Empirical Finance LLC Boosts Holdings in Fastenal Company $FAST

Empirical Finance LLC grew its holdings in shares of Fastenal Company (NASDAQ:FAST) by 101.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,194 shares of the company’s stock after acquiring an additional 20,226 shares during the period. Empirical Finance LLC’s holdings in Fastenal were worth $1,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of FAST. 1248 Management LLC bought a new stake in Fastenal during the 1st quarter valued at approximately $36,000. Riverview Trust Co increased its position 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 purchasing an additional 292 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Fastenal during the first quarter valued at $49,000. Private Wealth Management Group LLC raised its stake in Fastenal by 111.9% during the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after purchasing an additional 339 shares in the last quarter. Finally, Hilltop National Bank bought a new position in Fastenal during the second quarter valued at $27,000. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Down 1.0%

Shares of NASDAQ FAST opened at $39.55 on Thursday. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63. The firm has a market capitalization of $45.40 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 3.75 and a beta of 0.92. The stock has a 50 day moving average price of $44.24 and a 200 day moving average price of $44.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26.

Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the firm earned $0.26 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Sell-side analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, October 28th. Fastenal’s dividend payout ratio is presently 82.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Sanford C. Bernstein initiated coverage on Fastenal in a research note on Tuesday, November 11th. They set an “underperform” rating and a $38.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a research report on Wednesday, October 8th. Baird R W raised shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Northcoast Research assumed coverage on shares of Fastenal in a report on Thursday, August 21st. They issued a “neutral” rating for the company. Finally, Wolfe Research raised Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price on the stock in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.32.

Insider Buying and Selling

In other Fastenal news, Director Hsenghung Sam Hsu purchased 1,000 shares of Fastenal stock in a transaction dated Thursday, November 13th. The stock was acquired at an average price of $49.58 per share, for a total transaction of $49,580.00. Following the acquisition, the director owned 10,000 shares in the company, valued at $495,800. This trade represents a 11.11% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.37% of the company’s stock.

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.