eCIO Inc. Has $203,000 Holdings in Fastenal Company $FAST

eCIO Inc. raised its holdings in Fastenal Company (NASDAQ:FAST) by 98.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,824 shares of the company’s stock after acquiring an additional 2,397 shares during the period. eCIO Inc.’s holdings in Fastenal were worth $203,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in shares of Fastenal by 87.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock valued at $1,463,743,000 after purchasing an additional 16,308,254 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Fastenal by 103.5% during the second quarter. Envestnet Asset Management Inc. now owns 9,734,500 shares of the company’s stock worth $408,849,000 after buying an additional 4,950,503 shares during the last quarter. Cantillon Capital Management LLC increased its holdings in shares of Fastenal by 94.4% during the second quarter. Cantillon Capital Management LLC now owns 9,298,033 shares of the company’s stock worth $390,517,000 after buying an additional 4,513,985 shares in the last quarter. Blair William & Co. IL lifted its stake in shares of Fastenal by 107.2% in the 2nd quarter. Blair William & Co. IL now owns 6,822,973 shares of the company’s stock valued at $286,565,000 after acquiring an additional 3,530,339 shares during the last quarter. Finally, Provident Trust Co. boosted its holdings in shares of Fastenal by 98.9% during the 2nd quarter. Provident Trust Co. now owns 5,379,291 shares of the company’s stock valued at $225,930,000 after acquiring an additional 2,674,765 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other news, EVP William Joseph Drazkowski sold 6,842 shares of Fastenal stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $48.67, for a total value of $333,000.14. Following the completion of the transaction, the executive vice president directly owned 11,994 shares of the company’s stock, valued at approximately $583,747.98. This trade represents a 36.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Hsenghung Sam Hsu acquired 1,000 shares of the company’s stock in a transaction dated Thursday, October 16th. The stock was acquired at an average cost of $42.45 per share, for a total transaction of $42,450.00. Following the completion of the purchase, 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. Additional details regarding this purchase are available in the official SEC disclosure. 0.37% of the stock is owned by insiders.

Analysts Set New Price Targets

FAST has been the subject of a number of recent research reports. Barclays set a $45.00 target price on Fastenal and gave the stock an “equal weight” rating in a report on Tuesday, October 14th. Wolfe Research restated a “positive” rating on shares of Fastenal in a report on Monday, July 14th. Loop Capital reaffirmed a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. JPMorgan Chase & Co. lifted their target price on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. Finally, Northcoast Research started coverage on shares of Fastenal in a report on Thursday, August 21st. They set a “neutral” rating on the stock. One 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’s stock. According to data from MarketBeat, Fastenal presently has an average rating of “Hold” and an average price target of $46.50.

Fastenal Price Performance

Shares of FAST opened at $41.35 on Tuesday. The business has a 50-day moving average of $45.41 and a 200-day moving average of $44.42. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19. The company has a market capitalization of $47.47 billion, a price-to-earnings ratio of 38.65, a price-to-earnings-growth ratio of 3.75 and a beta of 0.92. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63.

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

Fastenal Dividend Announcement

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

Fastenal 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.