Claro Advisors LLC Has $250,000 Stock Holdings in Fastenal Company $FAST

Claro Advisors LLC increased its stake in shares of Fastenal Company (NASDAQ:FAST) by 53.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,945 shares of the company’s stock after acquiring an additional 2,070 shares during the period. Claro Advisors LLC’s holdings in Fastenal were worth $250,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in Fastenal during the 4th quarter worth about $496,000. Brown Advisory Inc. grew its position in shares of Fastenal by 11.2% in the 1st quarter. Brown Advisory Inc. now owns 95,973 shares of the company’s stock valued at $7,443,000 after acquiring an additional 9,669 shares during the period. Stratos Investment Management LLC acquired a new position in shares of Fastenal during the 1st quarter worth about $201,000. Valeo Financial Advisors LLC lifted its stake in Fastenal by 1.5% in the 1st quarter. Valeo Financial Advisors LLC now owns 10,495 shares of the company’s stock valued at $814,000 after purchasing an additional 153 shares during the last quarter. Finally, Greenleaf Trust lifted its stake in Fastenal by 2.8% in the 1st quarter. Greenleaf Trust now owns 40,829 shares of the company’s stock valued at $3,166,000 after purchasing an additional 1,125 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Activity at Fastenal

In related news, EVP William Joseph Drazkowski sold 6,842 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $48.67, for a total transaction of $333,000.14. Following the sale, the executive vice president owned 11,994 shares of the company’s stock, valued at $583,747.98. This represents a 36.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Hsenghung Sam Hsu acquired 1,000 shares of the stock in a transaction on Thursday, October 16th. The shares were bought at an average price of $42.45 per share, for a total transaction of $42,450.00. Following the purchase, the director owned 9,000 shares in the company, valued at approximately $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. Insiders own 0.37% of the company’s stock.

Fastenal Trading Down 2.2%

Shares of Fastenal stock opened at $40.77 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. The firm has a 50-day moving average of $45.75 and a 200-day moving average of $44.35. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63. The stock has a market cap of $46.81 billion, a PE ratio of 38.10, a PEG ratio of 3.75 and a beta of 0.92.

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

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, October 28th. Fastenal’s payout ratio is 82.24%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FAST shares. Northcoast Research started coverage on Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, October 8th. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Wolfe Research reiterated a “positive” rating on shares of Fastenal in a report on Monday, July 14th. Finally, Robert W. Baird dropped their price objective on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Fastenal currently has an average rating of “Hold” and an average price target of $46.50.

Fastenal Company Profile

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.