Fastenal Company $FAST Shares Acquired by Check Capital Management Inc. CA

Check Capital Management Inc. CA lifted its stake in shares of Fastenal Company (NASDAQ:FAST) by 100.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,920 shares of the company’s stock after purchasing an additional 3,960 shares during the period. Check Capital Management Inc. CA’s holdings in Fastenal were worth $333,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FAST. Blair William & Co. IL lifted its stake in Fastenal by 107.2% during the second quarter. Blair William & Co. IL now owns 6,822,973 shares of the company’s stock worth $286,565,000 after purchasing an additional 3,530,339 shares during the last quarter. Fenimore Asset Management Inc grew its holdings in Fastenal by 101.0% during the second quarter. Fenimore Asset Management Inc now owns 3,747,704 shares of the company’s stock worth $157,404,000 after acquiring an additional 1,883,419 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Fastenal by 8.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock worth $1,753,864,000 after acquiring an additional 1,850,871 shares during the period. Congress Asset Management Co. acquired a new position in Fastenal during the second quarter worth $73,733,000. Finally, Confluence Investment Management LLC grew its holdings in Fastenal by 97.5% during the second quarter. Confluence Investment Management LLC now owns 3,280,009 shares of the company’s stock worth $137,760,000 after acquiring an additional 1,619,507 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wolfe Research reaffirmed a “positive” rating on shares of Fastenal in a report on Monday, July 14th. Barclays initiated coverage on Fastenal in a report on Tuesday. They issued a “positive” rating and a $49.00 target price on the stock. Northcoast Research initiated coverage on Fastenal in a report on Thursday, August 21st. They issued a “neutral” rating on the stock. Loop Capital reissued a “hold” rating on shares of Fastenal in a report on Tuesday, July 15th. Finally, Stephens upped their target price on Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $47.41.

Fastenal Stock Down 2.0%

FAST opened at $45.78 on Friday. The company has a quick ratio of 2.12, a current ratio of 4.22 and a debt-to-equity ratio of 0.03. The firm has a market cap of $52.54 billion, a P/E ratio of 44.02, a PEG ratio of 4.15 and a beta of 0.94. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. The business’s fifty day simple moving average is $48.26 and its 200 day simple moving average is $43.91.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Monday, July 14th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.9%. Fastenal’s dividend payout ratio (DPR) is presently 84.62%.

Insiders Place Their Bets

In related news, CFO Sheryl Ann Lisowski sold 21,052 shares of the stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $45.21, for a total transaction of $951,760.92. Following the transaction, the chief financial officer directly owned 10,192 shares in the company, valued at approximately $460,780.32. This represents a 67.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffery Michael Watts sold 48,724 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $48.05, for a total value of $2,341,188.20. Following the transaction, the insider owned 11,880 shares in the company, valued at $570,834. This trade represents a 80.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,230 shares of company stock valued at $5,288,364. 0.37% of the stock is owned by corporate insiders.

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.