GAMMA Investing LLC Increases Stock Holdings in Fastenal (NASDAQ:FAST)

GAMMA Investing LLC boosted its position in Fastenal (NASDAQ:FAST) by 7.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,119 shares of the company’s stock after purchasing an additional 829 shares during the period. GAMMA Investing LLC’s holdings in Fastenal were worth $762,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. SRN Advisors LLC lifted its holdings in Fastenal by 5.3% in the 1st quarter. SRN Advisors LLC now owns 13,397 shares of the company’s stock worth $1,033,000 after purchasing an additional 678 shares in the last quarter. Clear Rock Advisors LLC boosted its holdings in Fastenal by 1.4% during the 1st quarter. Clear Rock Advisors LLC now owns 42,499 shares of the company’s stock valued at $3,278,000 after acquiring an additional 571 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Fastenal by 1.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,067,889 shares of the company’s stock valued at $82,178,000 after acquiring an additional 16,366 shares during the period. Cetera Advisors LLC lifted its holdings in shares of Fastenal by 36.6% in the 1st quarter. Cetera Advisors LLC now owns 29,797 shares of the company’s stock worth $2,299,000 after buying an additional 7,988 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of Fastenal by 499.7% in the 1st quarter. Cetera Investment Advisers now owns 132,046 shares of the company’s stock worth $10,186,000 after buying an additional 110,027 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Hsenghung Sam Hsu acquired 500 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the acquisition, the director now owns 3,500 shares of the company’s stock, valued at approximately $221,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Hsenghung Sam Hsu purchased 500 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average cost of $63.28 per share, with a total value of $31,640.00. Following the completion of the purchase, the director now directly owns 3,500 shares of the company’s stock, valued at $221,480. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total transaction of $732,191.96. Following the sale, the executive vice president now owns 26,176 shares in the company, valued at $1,677,096.32. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Fastenal Trading Down 1.0 %

FAST stock traded down $0.68 during midday trading on Monday, hitting $66.62. 2,107,720 shares of the company’s stock were exchanged, compared to its average volume of 3,692,705. Fastenal has a 1-year low of $53.83 and a 1-year high of $79.04. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $65.51 and a two-hundred day simple moving average of $69.12. The stock has a market capitalization of $38.15 billion, a PE ratio of 33.34, a P/E/G ratio of 3.65 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, July 12th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. Fastenal’s quarterly revenue was up 1.8% on a year-over-year basis. On average, sell-side analysts predict that Fastenal will post 2.05 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, July 26th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, July 26th. This represents a $1.56 annualized dividend and a yield of 2.34%. Fastenal’s payout ratio is 77.61%.

Analyst Ratings Changes

FAST has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Loop Capital cut their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Stephens reissued an “equal weight” rating and issued a $56.00 price objective on shares of Fastenal in a report on Monday, July 15th. Jefferies Financial Group lowered their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, HSBC increased their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $66.67.

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.