Wealthcare Advisory Partners LLC trimmed its position in shares of Fastenal Company (NASDAQ:FAST – Free Report) by 43.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 12,664 shares of the company’s stock after selling 9,806 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Fastenal were worth $608,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Focus Financial Network Inc. raised its position in shares of Fastenal by 5.1% in the 2nd quarter. Focus Financial Network Inc. now owns 67,730 shares of the company’s stock valued at $3,253,000 after buying an additional 3,275 shares in the last quarter. Dudley & Shanley Inc. boosted its position in shares of Fastenal by 160.7% during the 2nd quarter. Dudley & Shanley Inc. now owns 472,440 shares of the company’s stock worth $22,691,000 after acquiring an additional 291,190 shares in the last quarter. Sax Wealth Advisors LLC boosted its position in shares of Fastenal by 65.4% during the 2nd quarter. Sax Wealth Advisors LLC now owns 9,262 shares of the company’s stock worth $430,000 after acquiring an additional 3,663 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Fastenal by 8.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 14,291 shares of the company’s stock worth $686,000 after acquiring an additional 1,155 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Fastenal by 19.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,050 shares of the company’s stock valued at $387,000 after acquiring an additional 1,302 shares during the last quarter. 81.38% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Fastenal news, Director Rita J. Heise sold 34,964 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total value of $1,749,948.20. Following the completion of the transaction, the director directly owned 20,000 shares in the company, valued at approximately $1,001,000. This represents a 63.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael J. Ancius sold 3,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the transaction, the director directly owned 58,690 shares of the company’s stock, valued at $2,875,810. The trade was a 4.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.28% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Analysis on Fastenal
Fastenal Price Performance
Fastenal stock opened at $51.02 on Friday. The stock has a 50-day moving average price of $47.47 and a two-hundred day moving average price of $46.10. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $52.92. The company has a market capitalization of $58.55 billion, a PE ratio of 43.24, a P/E/G ratio of 3.18 and a beta of 0.72. The company has a current ratio of 4.18, a quick ratio of 2.21 and a debt-to-equity ratio of 0.01.
Fastenal (NASDAQ:FAST – Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the business posted $0.29 earnings per share. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. Analysts expect that Fastenal Company will post 1.26 EPS for the current year.
Fastenal Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, July 28th. This represents a $1.04 annualized dividend and a yield of 2.0%. This is a boost from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s dividend payout ratio is 88.14%.
About Fastenal
Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.
Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.
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