Proficio Capital Partners LLC acquired a new stake in Fastenal Company (NASDAQ:FAST – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 13,824 shares of the company’s stock, valued at approximately $664,000.
Several other large investors have also recently modified their holdings of the stock. Pure Financial Advisors LLC grew its holdings in Fastenal by 3.4% during the 2nd quarter. Pure Financial Advisors LLC now owns 7,161 shares of the company’s stock valued at $344,000 after purchasing an additional 235 shares during the last quarter. Corient Private Wealth LP bought a new stake in shares of Fastenal during the 2nd quarter worth approximately $46,092,000. Ausdal Financial Partners Inc. lifted its stake in shares of Fastenal by 2.9% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 8,406 shares of the company’s stock worth $404,000 after acquiring an additional 239 shares during the last quarter. Windsor Advisory Group LLC bought a new position in Fastenal in the 2nd quarter valued at $224,000. Finally, Caisse de depot et placement du Quebec purchased a new stake in Fastenal in the second quarter worth $39,417,000. Institutional investors own 81.38% of the company’s stock.
Fastenal Price Performance
NASDAQ FAST opened at $51.15 on Thursday. The firm’s fifty day simple moving average is $48.27 and its two-hundred day simple moving average is $46.45. The firm has a market capitalization of $58.69 billion, a P/E ratio of 43.35, a P/E/G ratio of 3.14 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 Company has a 12-month low of $38.97 and a 12-month high of $52.92.
Fastenal Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th were paid a dividend of $0.26 per share. The ex-dividend date was 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 dividend yield of 2.0%. Fastenal’s payout ratio is presently 88.14%.
Insider Activity
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 transaction of $1,749,948.20. Following the transaction, the director 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Ancius sold 3,000 shares of the business’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 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. Corporate insiders own 0.28% of the company’s stock.
Analyst Ratings Changes
FAST has been the topic of a number of research analyst reports. Weiss Ratings cut shares of Fastenal from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Wolfe Research restated an “underperform” rating and set a $47.00 price objective on shares of Fastenal in a report on Thursday, July 9th. Jefferies Financial Group reiterated a “buy” rating on shares of Fastenal in a report on Thursday, June 4th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a research note on Wednesday, July 15th. Finally, Barclays reduced their price objective on shares of Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, July 16th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.17.
Check Out Our Latest Report on Fastenal
Fastenal Profile
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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