Sentry Investment Management LLC Purchases 1,825 Shares of Fastenal Company $FAST

Sentry Investment Management LLC raised its position in Fastenal Company (NASDAQ:FAST) by 100.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,650 shares of the company’s stock after acquiring an additional 1,825 shares during the period. Sentry Investment Management LLC’s holdings in Fastenal were worth $156,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. 1248 Management LLC acquired a new position in Fastenal during the first quarter worth $36,000. Horizon Financial Services LLC raised its holdings in Fastenal by 5,330.0% during the first quarter. Horizon Financial Services LLC now owns 543 shares of the company’s stock worth $42,000 after acquiring an additional 533 shares in the last quarter. Riverview Trust Co boosted its position in Fastenal by 100.0% during the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Fastenal in the first quarter valued at approximately $49,000. Finally, Private Wealth Management Group LLC increased its position in shares of Fastenal by 111.9% during the 2nd 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. 81.38% of the stock is owned by institutional investors.

Fastenal Price Performance

Shares of FAST opened at $42.46 on Monday. The company’s 50-day moving average is $47.83 and its 200-day moving average is $44.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19. The firm has a market capitalization of $48.75 billion, a PE ratio of 39.68, a PEG ratio of 3.87 and a beta of 0.94. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63.

Fastenal (NASDAQ:FAST) last announced its 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). The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 EPS. Equities analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. Fastenal’s dividend payout ratio is presently 82.24%.

Insider Transactions at Fastenal

In related news, EVP John Lewis Soderberg sold 34,612 shares of Fastenal stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $48.03, for a total transaction of $1,662,414.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffery Michael Watts sold 48,724 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $48.05, for a total value of $2,341,188.20. Following the completion of the sale, the insider owned 11,880 shares of the company’s stock, valued at $570,834. This trade represents a 80.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,178 shares of company stock worth $4,336,603 in the last ninety days. 0.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stifel Nicolaus set a $82.00 price objective on Fastenal in a report on Thursday, July 3rd. Morgan Stanley set a $40.00 price target on shares of Fastenal and gave the company an “equal weight” rating in a research note on Thursday, July 3rd. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Robert W. Baird cut their target price on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Finally, Wolfe Research reiterated a “positive” rating on shares of Fastenal in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Fastenal presently has an average rating of “Hold” and a consensus price target of $46.50.

Fastenal Profile

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.