Koshinski Asset Management Inc. Has $711,000 Stake in Fastenal Company $FAST

Koshinski Asset Management Inc. grew its holdings in shares of Fastenal Company (NASDAQ:FAST) by 97.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,928 shares of the company’s stock after acquiring an additional 8,353 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Fastenal were worth $711,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FAST. Brighton Jones LLC acquired a new position in Fastenal during the fourth quarter worth about $496,000. GAMMA Investing LLC raised its stake in Fastenal by 11.4% during the first quarter. GAMMA Investing LLC now owns 21,847 shares of the company’s stock worth $1,694,000 after acquiring an additional 2,240 shares in the last quarter. Praxis Investment Management Inc. raised its stake in Fastenal by 15.1% during the first quarter. Praxis Investment Management Inc. now owns 7,690 shares of the company’s stock worth $596,000 after acquiring an additional 1,010 shares in the last quarter. Cullinan Associates Inc. raised its stake in Fastenal by 4.5% during the first quarter. Cullinan Associates Inc. now owns 55,777 shares of the company’s stock worth $4,326,000 after acquiring an additional 2,401 shares in the last quarter. Finally, Absher Wealth Management LLC raised its stake in Fastenal by 1.5% during the first quarter. Absher Wealth Management LLC now owns 337,874 shares of the company’s stock worth $26,202,000 after acquiring an additional 4,839 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

FAST has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, September 4th. Weiss Ratings restated a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. Barclays set a $45.00 price target on Fastenal and gave the stock an “equal weight” rating in a report on Tuesday, October 14th. Stifel Nicolaus set a $82.00 price target on Fastenal in a report on Thursday, July 3rd. Finally, Morgan Stanley set a $40.00 price target on Fastenal and gave the stock an “equal weight” rating in a report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Fastenal presently has an average rating of “Hold” and an average price target of $46.50.

Insider Buying and Selling

In other Fastenal news, Director Hsenghung Sam Hsu purchased 1,000 shares of the business’s stock in a transaction on Thursday, October 16th. The shares were purchased at an average cost of $42.45 per share, for a total transaction of $42,450.00. Following the acquisition, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffery Michael Watts sold 48,724 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was 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. The trade was a 80.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,178 shares of company stock valued at $4,336,603. Insiders own 0.37% of the company’s stock.

Fastenal Stock Performance

Shares of FAST stock opened at $42.46 on Monday. The business’s 50 day simple moving average is $47.83 and its 200 day simple moving average is $44.07. Fastenal Company has a one year low of $35.31 and a one year high of $50.63. The stock has a market capitalization of $48.75 billion, a PE ratio of 39.68, a PEG ratio of 3.87 and a beta of 0.94. 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 (NASDAQ:FAST) last announced its earnings results on Monday, October 13th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company earned $0.26 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. As a group, research analysts forecast that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Announces Dividend

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. The ex-dividend date is Tuesday, October 28th. This represents a $0.88 annualized dividend and a yield of 2.1%. Fastenal’s dividend payout ratio is presently 82.24%.

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.