Noble Family Wealth LLC Invests $203,000 in Fastenal Company $FAST

Noble Family Wealth LLC bought a new position in Fastenal Company (NASDAQ:FAST) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 4,826 shares of the company’s stock, valued at approximately $203,000.

Several other institutional investors have also recently made changes to their positions in the company. Clarius Group LLC raised its position in shares of Fastenal by 87.2% in the 2nd quarter. Clarius Group LLC now owns 8,943 shares of the company’s stock worth $376,000 after acquiring an additional 4,165 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of Fastenal by 95.0% in the 2nd quarter. Checchi Capital Advisers LLC now owns 13,557 shares of the company’s stock worth $569,000 after acquiring an additional 6,603 shares in the last quarter. Penobscot Investment Management Company Inc. raised its position in shares of Fastenal by 100.0% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 23,180 shares of the company’s stock worth $974,000 after acquiring an additional 11,590 shares in the last quarter. Windward Private Wealth Management Inc. raised its position in shares of Fastenal by 100.0% in the 2nd quarter. Windward Private Wealth Management Inc. now owns 6,000 shares of the company’s stock worth $252,000 after acquiring an additional 3,000 shares in the last quarter. Finally, AMF Tjanstepension AB raised its position in shares of Fastenal by 100.0% in the 2nd quarter. AMF Tjanstepension AB now owns 678,006 shares of the company’s stock worth $28,489,000 after acquiring an additional 339,003 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

FAST stock opened at $47.88 on Friday. The company has a market cap of $54.95 billion, a P/E ratio of 46.04, a price-to-earnings-growth ratio of 4.34 and a beta of 0.94. Fastenal Company has a 1 year low of $34.69 and a 1 year high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.22 and a quick ratio of 2.12. The stock’s fifty day moving average price is $48.18 and its 200-day moving average price is $43.60.

Fastenal (NASDAQ:FAST) last released its earnings results on Monday, July 14th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.07 billion. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.Fastenal’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. On average, equities analysts forecast that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, July 29th were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, July 29th. This represents a $0.88 annualized dividend and a yield of 1.8%. Fastenal’s payout ratio is 84.62%.

Wall Street Analyst Weigh In

FAST has been the topic of several recent research reports. Loop Capital restated a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. Stifel Nicolaus set a $82.00 price target on Fastenal in a research note on Thursday, July 3rd. Morgan Stanley set a $40.00 price target on Fastenal and gave the stock an “equal weight” rating in a research note on Thursday, July 3rd. Northcoast Research initiated coverage on Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating on the stock. Finally, Wolfe Research restated a “positive” rating on shares of Fastenal in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.82.

Insider Buying and Selling

In related news, EVP William Joseph Drazkowski sold 6,842 shares of Fastenal stock in a transaction on Friday, August 15th. The stock was sold at an average price of $48.67, for a total transaction of $333,000.14. Following the transaction, the executive vice president directly owned 11,994 shares in the company, valued at approximately $583,747.98. The trade was a 36.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Lewis Soderberg sold 34,612 shares of Fastenal stock in a transaction on Friday, August 8th. The shares were sold at an average price of $48.03, for a total value of $1,662,414.36. The disclosure for this sale can be found here. Insiders have sold a total of 111,230 shares of company stock valued at $5,288,364 over the last three months. 0.37% of the stock is currently owned by company insiders.

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.