Fastenal Company $FAST Shares Purchased by CENTRAL TRUST Co

CENTRAL TRUST Co grew its position in shares of Fastenal Company (NASDAQ:FAST) by 99.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,148 shares of the company’s stock after purchasing an additional 6,554 shares during the period. CENTRAL TRUST Co’s holdings in Fastenal were worth $552,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Riverview Trust Co boosted its position in Fastenal by 100.0% during the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after acquiring an additional 292 shares during the last quarter. Hilltop National Bank purchased a new position in shares of Fastenal during the 2nd quarter worth $27,000. Private Wealth Management Group LLC boosted its holdings in shares of Fastenal by 111.9% during the second 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. boosted its holdings in shares of Fastenal by 100.0% during the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after purchasing an additional 348 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its position in shares of Fastenal by 95.0% in the second quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock valued at $29,000 after purchasing an additional 342 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Hsenghung Sam Hsu purchased 1,000 shares of the firm’s stock in a transaction on Thursday, October 16th. The stock was purchased at an average price of $42.45 per share, for a total transaction of $42,450.00. Following the acquisition, the director directly owned 9,000 shares in the company, valued at $382,050. The trade was a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.37% of the company’s stock.

Fastenal Stock Performance

NASDAQ:FAST opened at $40.75 on Friday. The firm’s fifty day simple moving average is $44.89 and its 200 day simple moving average is $44.37. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The firm has a market capitalization of $46.78 billion, a price-to-earnings ratio of 38.08, a PEG ratio of 3.75 and a beta of 0.92.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the business earned $0.26 earnings per share. As a group, equities research analysts expect that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Barclays decreased their price target on Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday. Baird R W raised shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Weiss Ratings restated a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target 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, Northcoast Research assumed coverage on shares of Fastenal in a research note on Thursday, August 21st. They set a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fastenal presently has an average rating of “Hold” and a consensus price target of $46.32.

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.