JFS Wealth Advisors LLC Purchases 479 Shares of Fastenal Company $FAST

JFS Wealth Advisors LLC boosted its position in shares of Fastenal Company (NASDAQ:FAST) by 169.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 762 shares of the company’s stock after acquiring an additional 479 shares during the period. JFS Wealth Advisors LLC’s holdings in Fastenal were worth $32,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FAST. Riverview Trust Co raised its stake in Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after acquiring an additional 292 shares during the period. Hilltop National Bank bought a new stake in Fastenal during the 2nd quarter worth approximately $27,000. Armstrong Advisory Group Inc. raised its stake in Fastenal by 100.0% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after acquiring an additional 348 shares during the period. AdvisorNet Financial Inc raised its stake in Fastenal by 95.0% during 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 period. Finally, Clean Yield Group raised its position in shares of Fastenal by 100.0% during the second quarter. Clean Yield Group now owns 696 shares of the company’s stock valued at $29,000 after buying an additional 348 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Trading Down 2.0%

FAST stock opened at $45.78 on Monday. The firm has a fifty day moving average price of $48.26 and a 200 day moving average price of $43.94. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.12 and a current ratio of 4.22. The firm has a market cap of $52.54 billion, a PE ratio of 44.02, a price-to-earnings-growth ratio of 4.15 and a beta of 0.94.

Fastenal (NASDAQ:FAST) last posted its earnings results on Monday, July 14th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the firm posted $0.25 earnings per share. Fastenal’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts anticipate that Fastenal Company will post 2.15 earnings per share 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 issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.9%. Fastenal’s dividend payout ratio (DPR) is presently 84.62%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Loop Capital reiterated a “hold” rating on shares of Fastenal in a research report on Tuesday, July 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a research report on Wednesday, October 8th. Northcoast Research assumed coverage on shares of Fastenal in a research report on Thursday, August 21st. They set a “neutral” rating on the stock. Robert W. Baird upgraded shares of Fastenal from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $47.00 to $55.00 in a research report on Thursday, August 7th. Finally, Stephens lifted their price objective on shares of Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Fastenal presently has a consensus rating of “Hold” and an average target price of $47.41.

Insider Buying and Selling at Fastenal

In other Fastenal news, EVP William Joseph Drazkowski sold 6,842 shares of Fastenal stock in a transaction on Friday, August 15th. The shares were sold at an average price of $48.67, for a total transaction 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 $583,747.98. The trade was a 36.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of Fastenal stock in a transaction on 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 of the company’s stock, valued at $460,780.32. The trade was a 67.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,230 shares of company stock valued at $5,288,364. 0.37% of the stock is owned by company 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.