Argonautica Private Wealth Management Inc. Buys 2,905 Shares of Fastenal Company $FAST

Argonautica Private Wealth Management Inc. grew its stake in shares of Fastenal Company (NASDAQ:FAST) by 72.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,905 shares of the company’s stock after buying an additional 2,905 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in Fastenal were worth $290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. 1248 Management LLC bought a new stake in Fastenal in the first quarter worth $36,000. Horizon Financial Services LLC increased its position in Fastenal by 5,330.0% in the first quarter. Horizon Financial Services LLC now owns 543 shares of the company’s stock worth $42,000 after purchasing an additional 533 shares during the last quarter. Riverview Trust Co increased its position in Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after purchasing an additional 292 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in Fastenal in the first quarter worth $49,000. Finally, Private Wealth Management Group LLC increased its position in Fastenal by 111.9% in the second 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 last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Activity at Fastenal

In related news, Director Hsenghung Sam Hsu acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was bought at an average price of $42.45 per share, for a total transaction of $42,450.00. Following the acquisition, the director directly owned 9,000 shares of the company’s stock, valued at $382,050. This represents a 12.50% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffery Michael Watts sold 48,724 shares of Fastenal stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the sale, the insider owned 11,880 shares of the company’s stock, valued at $570,834. The trade was a 80.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,178 shares of company stock worth $4,336,603. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on FAST shares. Robert W. Baird reduced their price target 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. Morgan Stanley set a $40.00 price objective on shares of Fastenal and gave the stock an “equal weight” rating in a research note on Thursday, July 3rd. Northcoast Research initiated coverage on shares of Fastenal in a research note on Thursday, August 21st. They set a “neutral” rating for the company. 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, Barclays set a $45.00 price objective on shares of Fastenal and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $46.50.

Fastenal Stock Up 0.8%

NASDAQ FAST opened at $43.32 on Wednesday. The firm has a market capitalization of $49.73 billion, a price-to-earnings ratio of 40.49, a PEG ratio of 3.92 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 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 fifty day moving average of $47.63 and a two-hundred day moving average of $44.10.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Monday, October 13th. The company reported $0.29 EPS for the quarter, missing the consensus estimate 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 period in the prior year, the business earned $0.26 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts predict that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors 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 yield of 2.0%. Fastenal’s dividend payout ratio (DPR) is presently 82.24%.

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.