Bryn Mawr Trust Advisors LLC Makes New $6.03 Million Investment in Fastenal Company $FAST

Bryn Mawr Trust Advisors LLC purchased a new position in shares of Fastenal Company (NASDAQ:FAST) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 125,462 shares of the company’s stock, valued at approximately $6,026,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Elyxium Wealth LLC acquired a new stake in shares of Fastenal in the fourth quarter worth about $25,000. Palladiem LLC bought a new stake in shares of Fastenal during the 4th quarter worth about $25,000. Evergreen Advisors LLC acquired a new position in shares of Fastenal during the 1st quarter valued at about $26,000. MV Capital Management Inc. bought a new position in shares of Fastenal in the 4th quarter valued at approximately $29,000. Finally, Field & Main Bank bought a new position in shares of Fastenal in the 4th quarter valued at approximately $30,000. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Rita J. Heise sold 34,964 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total value of $1,749,948.20. Following the completion of the sale, the director directly owned 20,000 shares of the company’s stock, valued at $1,001,000. This represents a 63.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Ancius sold 3,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the completion of the sale, the director owned 58,690 shares in the company, valued at $2,875,810. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FAST shares. Robert W. Baird set a $54.00 target price on Fastenal in a research report on Friday, August 7th. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research report on Wednesday, July 15th. Morgan Stanley boosted their price objective on shares of Fastenal from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. DA Davidson reaffirmed a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a report on Wednesday, July 15th. Finally, Wolfe Research reiterated an “underperform” rating and issued a $47.00 target price on shares of Fastenal in a research note on Thursday, July 9th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $49.17.

Fastenal Price Performance

NASDAQ FAST opened at $51.02 on Friday. The stock has a 50-day simple moving average of $47.47 and a 200 day simple moving average of $46.10. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $52.92. The stock has a market capitalization of $58.55 billion, a PE ratio of 43.24, a P/E/G ratio of 3.20 and a beta of 0.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 4.18.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. Research analysts anticipate that Fastenal Company will post 1.26 EPS for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, July 28th. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. Fastenal’s dividend payout ratio is 88.14%.

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.