Fastenal Company $FAST Position Increased by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC raised its holdings in shares of Fastenal Company (NASDAQ:FAST) by 114.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,578 shares of the company’s stock after buying an additional 3,506 shares during the period. Quotient Wealth Partners LLC’s holdings in Fastenal were worth $276,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Albert D Mason Inc. boosted its holdings in Fastenal by 87.9% during the second quarter. Albert D Mason Inc. now owns 35,083 shares of the company’s stock worth $1,473,000 after buying an additional 16,409 shares in the last quarter. Progressive Investment Management Corp boosted its holdings in Fastenal by 98.2% during the second quarter. Progressive Investment Management Corp now owns 253,816 shares of the company’s stock worth $10,660,000 after buying an additional 125,767 shares in the last quarter. Koshinski Asset Management Inc. boosted its holdings in Fastenal by 97.4% during the second quarter. Koshinski Asset Management Inc. now owns 16,928 shares of the company’s stock worth $711,000 after buying an additional 8,353 shares in the last quarter. Private Wealth Management Group LLC boosted its stake in Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after purchasing an additional 339 shares during the period. Finally, Curbstone Financial Management Corp boosted its stake in Fastenal by 97.4% in the 2nd quarter. Curbstone Financial Management Corp now owns 26,814 shares of the company’s stock worth $1,126,000 after purchasing an additional 13,232 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on FAST shares. Northcoast Research started coverage on shares of Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, October 8th. Wolfe Research reaffirmed a “positive” rating on shares of Fastenal in a research note on Monday, July 14th. Baird R W raised shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Finally, Robert W. Baird decreased their price objective on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. One 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 stock. Based on data from MarketBeat, Fastenal has an average rating of “Hold” and an average price target of $46.50.

Fastenal Stock Up 1.2%

FAST stock opened at $42.46 on Monday. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The company has a market cap of $48.75 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 3.87 and a beta of 0.94. The company has a 50 day moving average of $47.83 and a two-hundred day moving average of $44.07.

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

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is currently 82.24%.

Insider Buying and Selling at Fastenal

In other news, EVP William Joseph Drazkowski sold 6,842 shares of the firm’s 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 transaction, the executive vice president owned 11,994 shares in the company, valued at approximately $583,747.98. This trade represents a 36.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Lewis Soderberg sold 34,612 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $48.03, for a total transaction of $1,662,414.36. The disclosure for this sale can be found here. Insiders have sold a total of 90,178 shares of company stock worth $4,336,603 over the last quarter. Company insiders own 0.37% of the company’s stock.

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.