Madison Wealth Partners Inc bought a new stake in shares of Fastenal Company (NASDAQ:FAST – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,331 shares of the company’s stock, valued at approximately $688,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elyxium Wealth LLC purchased a new stake in Fastenal in the fourth quarter worth $25,000. Palladiem LLC purchased a new position in Fastenal during the 4th quarter valued at $25,000. Evergreen Advisors LLC bought a new position in Fastenal in the 1st quarter worth $26,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Fastenal in the 2nd quarter worth about $26,000. Finally, MV Capital Management Inc. bought a new stake in shares of Fastenal during the 4th quarter valued at about $29,000. Institutional investors own 81.38% of the company’s stock.
Insider Buying and Selling at Fastenal
In other news, Director Rita J. Heise sold 34,964 shares of Fastenal stock in a transaction dated Wednesday, August 5th. The stock was 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 owned 20,000 shares of the company’s stock, valued at $1,001,000. The trade was a 63.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Ancius sold 3,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the sale, the director directly owned 58,690 shares in the company, valued at $2,875,810. This trade represents a 4.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.28% of the company’s stock.
Analysts Set New Price Targets
Get Our Latest Analysis on Fastenal
Fastenal Trading Up 1.2%
Shares of NASDAQ FAST opened at $51.26 on Friday. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $52.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21. The firm has a 50-day moving average of $47.96 and a 200 day moving average of $46.37. The stock has a market cap of $58.82 billion, a P/E ratio of 43.44, a price-to-earnings-growth ratio of 3.20 and a beta of 0.72.
Fastenal (NASDAQ:FAST – Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the prior year, the company earned $0.29 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts expect that Fastenal Company will post 1.26 EPS for the current fiscal year.
Fastenal Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, July 28th. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. Fastenal’s dividend payout ratio (DPR) is presently 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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