Fastenal Company $FAST Position Increased by Frazier Financial Advisors LLC

Frazier Financial Advisors LLC increased its stake in shares of Fastenal Company (NASDAQ:FAST) by 100.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 800 shares of the company’s stock after buying an additional 400 shares during the quarter. Frazier Financial Advisors LLC’s holdings in Fastenal were worth $34,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in FAST. Blair William & Co. IL increased its stake in shares of Fastenal by 107.2% in the second quarter. Blair William & Co. IL now owns 6,822,973 shares of the company’s stock valued at $286,565,000 after purchasing an additional 3,530,339 shares during the period. Fenimore Asset Management Inc raised its stake in shares of Fastenal by 101.0% during the second quarter. Fenimore Asset Management Inc now owns 3,747,704 shares of the company’s stock valued at $157,404,000 after purchasing an additional 1,883,419 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Fastenal by 8.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock valued at $1,753,864,000 after buying an additional 1,850,871 shares in the last quarter. Congress Asset Management Co. bought a new stake in shares of Fastenal during the 2nd quarter worth about $73,733,000. Finally, Confluence Investment Management LLC lifted its stake in shares of Fastenal by 97.5% in the 2nd quarter. Confluence Investment Management LLC now owns 3,280,009 shares of the company’s stock worth $137,760,000 after acquiring an additional 1,619,507 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Jeffery Michael Watts sold 48,724 shares of Fastenal 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 transaction, the insider owned 11,880 shares in the company, valued at $570,834. This trade represents a 80.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of the firm’s stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $45.21, for a total value of $951,760.92. Following the completion of the sale, the chief financial officer directly owned 10,192 shares in the company, valued at approximately $460,780.32. This represents a 67.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,230 shares of company stock worth $5,288,364 over the last ninety days. Company insiders own 0.37% of the company’s stock.

Fastenal Price Performance

NASDAQ FAST opened at $42.33 on Tuesday. The company has a 50 day simple moving average of $48.20 and a 200-day simple moving average of $43.97. 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 $48.58 billion, a price-to-earnings ratio of 40.70, a price-to-earnings-growth ratio of 4.15 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.22 and a quick ratio of 2.12.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Monday, October 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. Fastenal’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 EPS. Equities research analysts predict that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, October 28th. Fastenal’s payout ratio is 84.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wolfe Research reissued a “positive” rating on shares of Fastenal in a report on Monday, July 14th. Loop Capital restated a “hold” rating on shares of Fastenal in a report on Tuesday, July 15th. Stifel Nicolaus set a $82.00 target price on Fastenal in a report on Thursday, July 3rd. Stephens raised their price objective on shares of Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Northcoast Research assumed coverage on shares of Fastenal in a report on Thursday, August 21st. They issued a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $47.05.

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.