Fastenal Company $FAST Shares Bought by Smithfield Trust Co

Smithfield Trust Co lifted its holdings in Fastenal Company (NASDAQ:FAST) by 100.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,800 shares of the company’s stock after purchasing an additional 6,900 shares during the period. Smithfield Trust Co’s holdings in Fastenal were worth $579,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Riverview Trust Co grew 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 buying an additional 292 shares during the last quarter. Hilltop National Bank bought a new stake in shares of Fastenal during the 2nd quarter worth $27,000. Private Wealth Management Group LLC boosted 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 acquiring an additional 339 shares in the last quarter. Armstrong Advisory Group Inc. grew its holdings in shares of Fastenal by 100.0% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after acquiring an additional 348 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its position in shares of Fastenal by 95.0% during the second quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock worth $29,000 after purchasing an additional 342 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Down 0.5%

FAST opened at $40.75 on Friday. The company has a market capitalization of $46.78 billion, a PE ratio of 38.08, a price-to-earnings-growth ratio of 3.75 and a beta of 0.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The business has a 50-day moving average of $44.89 and a 200-day moving average of $44.37.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $2.13 billion during 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 company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 earnings per share. Equities research analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Announces Dividend

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 2.2%. Fastenal’s payout ratio is presently 82.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Barclays decreased their price target on Fastenal from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a research report on Wednesday, October 8th. Wolfe Research upgraded shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price target for the company in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, September 4th. Finally, Sanford C. Bernstein initiated coverage on shares of Fastenal in a research note on Tuesday. They set an “underperform” rating and a $38.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.32.

Insiders Place Their Bets

In other Fastenal news, Director Hsenghung Sam Hsu purchased 1,000 shares of the firm’s stock in a transaction on Thursday, October 16th. The shares were purchased at an average price of $42.45 per share, for a total transaction of $42,450.00. Following the completion of the purchase, the director directly owned 9,000 shares of the company’s stock, valued at approximately $382,050. This represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Fastenal Company 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.