WoodTrust Financial Corp Has $2.89 Million Holdings in Fastenal Company $FAST

WoodTrust Financial Corp lifted its holdings in Fastenal Company (NASDAQ:FAST) by 100.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,800 shares of the company’s stock after purchasing an additional 34,400 shares during the period. WoodTrust Financial Corp’s holdings in Fastenal were worth $2,890,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Riverview Trust Co lifted its stake in shares of Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. Hilltop National Bank acquired a new stake in shares of Fastenal in the 2nd quarter valued at $27,000. Armstrong Advisory Group Inc. lifted its stake in shares of Fastenal by 100.0% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after purchasing an additional 348 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in shares of Fastenal by 95.0% in the 2nd 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 last quarter. Finally, Clean Yield Group lifted its stake in shares of Fastenal by 100.0% in the 2nd quarter. Clean Yield Group now owns 696 shares of the company’s stock valued at $29,000 after purchasing an additional 348 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Ratings Changes

FAST has been the subject of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fastenal in a research note on Saturday, September 27th. Wolfe Research reissued a “positive” rating on shares of Fastenal in a research report on Monday, July 14th. JPMorgan Chase & Co. boosted their target price on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. Morgan Stanley set a $40.00 target price on shares of Fastenal and gave the stock an “equal weight” rating in a research report on Thursday, July 3rd. Finally, Baird R W raised shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. One research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.41.

Insider Activity at Fastenal

In other news, CFO Sheryl Ann Lisowski sold 21,052 shares of the business’s stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $45.21, for a total transaction of $951,760.92. Following the transaction, the chief financial officer owned 10,192 shares in the company, valued at approximately $460,780.32. The trade was a 67.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP William Joseph Drazkowski sold 6,842 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $48.67, for a total transaction of $333,000.14. Following the completion of the sale, the executive vice president directly owned 11,994 shares in the company, valued at approximately $583,747.98. The trade was a 36.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,230 shares of company stock worth $5,288,364. 0.37% of the stock is owned by company insiders.

Fastenal Stock Performance

NASDAQ:FAST opened at $47.45 on Wednesday. The firm’s 50-day moving average is $48.22 and its 200-day moving average is $43.74. Fastenal Company has a 52-week low of $34.69 and a 52-week high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.12 and a current ratio of 4.22. The company has a market cap of $54.46 billion, a price-to-earnings ratio of 45.63, a PEG ratio of 4.34 and a beta of 0.94.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the firm posted $0.25 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, July 29th were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, July 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.9%. Fastenal’s payout ratio is presently 84.62%.

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.