Jacobson & Schmitt Advisors LLC Has $12.06 Million Stock Position in Fastenal Company $FAST

Jacobson & Schmitt Advisors LLC grew its position in Fastenal Company (NASDAQ:FAST) by 97.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 287,093 shares of the company’s stock after purchasing an additional 141,903 shares during the period. Fastenal comprises about 2.1% of Jacobson & Schmitt Advisors LLC’s holdings, making the stock its 25th largest position. Jacobson & Schmitt Advisors LLC’s holdings in Fastenal were worth $12,058,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Riverview Trust Co increased its holdings in Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after buying an additional 292 shares during the last quarter. Hilltop National Bank bought a new stake in Fastenal in the second quarter worth approximately $27,000. Private Wealth Management Group LLC increased its stake 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. Armstrong Advisory Group Inc. raised its holdings in shares of Fastenal by 100.0% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after purchasing an additional 348 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in shares of Fastenal by 95.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock valued at $29,000 after purchasing an additional 342 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FAST has been the subject of a number of recent research reports. Wolfe Research reiterated a “positive” rating on shares of Fastenal in a report on Monday, July 14th. Robert W. Baird decreased their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Northcoast Research assumed coverage on Fastenal in a report on Thursday, August 21st. They set a “neutral” rating on the stock. JPMorgan Chase & Co. raised their price objective on Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, September 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $46.50.

Fastenal Stock Performance

FAST opened at $41.30 on Wednesday. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $46.11 and its two-hundred day moving average price is $44.40. The firm has a market capitalization of $47.41 billion, a P/E ratio of 38.60, a price-to-earnings-growth ratio of 3.75 and a beta of 0.94. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Monday, October 13th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company posted $0.26 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year. On average, equities analysts forecast that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Dividend Announcement

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

Insider Activity at Fastenal

In other news, EVP William Joseph Drazkowski sold 6,842 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $48.67, for a total transaction of $333,000.14. Following the completion of the transaction, the executive vice president owned 11,994 shares of the company’s stock, valued at approximately $583,747.98. This represents a 36.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hsenghung Sam Hsu bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The shares were purchased at an average cost of $42.45 per share, for a total transaction of $42,450.00. Following the completion of the transaction, the director owned 9,000 shares of the company’s stock, valued at $382,050. This represents a 12.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have sold 90,178 shares of company stock worth $4,336,603. 0.37% of the stock is owned by company insiders.

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.