Intelligent Financial Strategies Purchases 1,261 Shares of Fastenal Company $FAST

Intelligent Financial Strategies grew its holdings in shares of Fastenal Company (NASDAQ:FAST) by 100.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,522 shares of the company’s stock after purchasing an additional 1,261 shares during the period. Intelligent Financial Strategies’ holdings in Fastenal were worth $106,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Patton Fund Management Inc. acquired a new position in Fastenal in the 2nd quarter valued at about $229,000. Values First Advisors Inc. grew its stake in Fastenal by 183.0% in the 2nd quarter. Values First Advisors Inc. now owns 9,378 shares of the company’s stock valued at $394,000 after buying an additional 6,064 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Fastenal by 8.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock worth $1,753,864,000 after purchasing an additional 1,850,871 shares in the last quarter. Picton Mahoney Asset Management grew its position in shares of Fastenal by 7.5% during the 1st quarter. Picton Mahoney Asset Management now owns 181,482 shares of the company’s stock worth $14,074,000 after purchasing an additional 12,721 shares in the last quarter. Finally, KLP Kapitalforvaltning AS grew its position in shares of Fastenal by 3.9% during the 1st quarter. KLP Kapitalforvaltning AS now owns 195,748 shares of the company’s stock worth $15,180,000 after purchasing an additional 7,400 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Trading Up 0.9%

FAST opened at $42.99 on Friday. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average of $47.39 and a 200-day moving average of $44.14. The stock has a market cap of $49.35 billion, a PE ratio of 40.18, a price-to-earnings-growth ratio of 3.88 and a beta of 0.94.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Monday, October 13th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The company had revenue of $2.13 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 earnings per share. On average, sell-side analysts predict that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The company 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, October 28th. Fastenal’s dividend payout ratio (DPR) is presently 82.24%.

Insider Activity

In other news, Director Hsenghung Sam Hsu purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The shares were bought at an average cost of $42.45 per share, with a total value of $42,450.00. Following the completion of the transaction, the director directly owned 9,000 shares of the company’s stock, valued at approximately $382,050. This trade represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Lewis Soderberg sold 34,612 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $48.03, for a total transaction of $1,662,414.36. The disclosure for this sale can be found here. Insiders sold 90,178 shares of company stock valued at $4,336,603 over the last ninety days. Company insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

FAST has been the topic of a number of analyst reports. Northcoast Research initiated coverage on shares of Fastenal in a research report on Thursday, August 21st. They set a “neutral” rating on the stock. Stephens increased their target price on shares of Fastenal from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Barclays set a $45.00 price target on shares of Fastenal and gave the stock an “equal weight” rating in a report on Tuesday, October 14th. Morgan Stanley set a $40.00 price target on shares of Fastenal and gave the stock an “equal weight” rating in a report on Thursday, July 3rd. Finally, Loop Capital reaffirmed a “hold” rating on shares of Fastenal in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $46.50.

About Fastenal

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.