Ashton Thomas Private Wealth LLC Purchases 33,772 Shares of Fastenal Company $FAST

Ashton Thomas Private Wealth LLC lifted its stake in shares of Fastenal Company (NASDAQ:FAST) by 126.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 60,562 shares of the company’s stock after purchasing an additional 33,772 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Fastenal were worth $2,544,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FAST. Riverview Trust Co raised its stake in shares of Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares during the period. Hilltop National Bank bought a new stake in shares of Fastenal during the 2nd quarter valued at $27,000. Private Wealth Management Group LLC raised its stake in shares of Fastenal by 111.9% during the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after purchasing an additional 339 shares during the period. Armstrong Advisory Group Inc. raised its stake in shares of Fastenal by 100.0% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after purchasing an additional 348 shares during the period. Finally, AdvisorNet Financial Inc increased its stake in Fastenal by 95.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock worth $29,000 after acquiring an additional 342 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FAST shares. Weiss Ratings restated a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, October 8th. Morgan Stanley set a $40.00 target price on Fastenal and gave the stock an “equal weight” rating in a research note on Thursday, July 3rd. Loop Capital restated a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. Stephens upped their target price on Fastenal from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. upped their target price on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $46.50.

Insider Buying and Selling

In related news, EVP John Lewis Soderberg sold 34,612 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $48.03, for a total transaction of $1,662,414.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hsenghung Sam Hsu bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The shares were bought at an average price of $42.45 per share, with a total value of $42,450.00. Following the completion of the acquisition, the director directly owned 9,000 shares in the company, valued at $382,050. This trade represents a 12.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 90,178 shares of company stock valued at $4,336,603. 0.37% of the stock is owned by insiders.

Fastenal Price Performance

Shares of Fastenal stock opened at $41.63 on Wednesday. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $47.79 billion, a PE ratio of 38.91, a price-to-earnings-growth ratio of 3.88 and a beta of 0.94. The business’s 50-day moving average price is $46.97 and its 200-day moving average price is $44.35. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Monday, October 13th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. Fastenal’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 earnings per share. Sell-side analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, October 28th. This represents a $0.88 annualized dividend and a yield of 2.1%. Fastenal’s dividend payout ratio is currently 82.24%.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.