Angeles Wealth Management LLC Buys 3,305 Shares of Fastenal Company $FAST

Angeles Wealth Management LLC boosted its stake in Fastenal Company (NASDAQ:FAST) by 117.5% in the second quarter, Holdings Channel reports. The firm owned 6,118 shares of the company’s stock after purchasing an additional 3,305 shares during the quarter. Angeles Wealth Management LLC’s holdings in Fastenal were worth $257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FAST. Brighton Jones LLC acquired a new position in Fastenal in the fourth quarter valued at about $496,000. GAMMA Investing LLC raised its stake in Fastenal by 11.4% in the first quarter. GAMMA Investing LLC now owns 21,847 shares of the company’s stock valued at $1,694,000 after purchasing an additional 2,240 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Fastenal by 55.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 364,694 shares of the company’s stock valued at $28,282,000 after purchasing an additional 130,071 shares in the last quarter. Premier Path Wealth Partners LLC raised its stake in Fastenal by 10.9% in the first quarter. Premier Path Wealth Partners LLC now owns 4,175 shares of the company’s stock valued at $324,000 after purchasing an additional 409 shares in the last quarter. Finally, Boston Trust Walden Corp raised its stake in Fastenal by 17.6% in the first quarter. Boston Trust Walden Corp now owns 3,336 shares of the company’s stock valued at $259,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Price Performance

Fastenal stock opened at $42.46 on Friday. The company has a current ratio of 4.26, a quick ratio of 2.12 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $48.73 billion, a PE ratio of 39.68, a P/E/G ratio of 3.87 and a beta of 0.94. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63. The stock has a 50-day moving average price of $47.83 and a two-hundred day moving average price of $44.03.

Fastenal (NASDAQ:FAST) last posted 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). The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. Fastenal’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.26 earnings per share. Analysts expect that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be given 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 (DPR) is currently 82.24%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FAST shares. Morgan Stanley set a $40.00 price target on Fastenal and gave the company an “equal weight” rating in a research note on Thursday, July 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, October 8th. Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Barclays set a $45.00 price objective on Fastenal and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Stifel Nicolaus set a $82.00 price objective on Fastenal in a research note on Thursday, July 3rd. One 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $46.50.

Insider Transactions at Fastenal

In other Fastenal news, EVP John Lewis Soderberg sold 34,612 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $48.03, for a total value of $1,662,414.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffery Michael Watts sold 48,724 shares of Fastenal 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 completion of the transaction, the insider directly owned 11,880 shares in the company, valued at approximately $570,834. This represents a 80.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,178 shares of company stock valued at $4,336,603 over the last three months. Company insiders own 0.37% of the company’s stock.

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.