Motley Fool Asset Management LLC Grows Holdings in Fastenal Company $FAST

Motley Fool Asset Management LLC increased its position in shares of Fastenal Company (NASDAQ:FAST) by 97.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 388,000 shares of the company’s stock after purchasing an additional 191,666 shares during the quarter. Fastenal makes up about 0.8% of Motley Fool Asset Management LLC’s holdings, making the stock its 25th biggest position. Motley Fool Asset Management LLC’s holdings in Fastenal were worth $16,296,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC purchased a new position in Fastenal during the first quarter worth about $36,000. Horizon Financial Services LLC boosted its holdings in Fastenal by 5,330.0% during the first quarter. Horizon Financial Services LLC now owns 543 shares of the company’s stock worth $42,000 after purchasing an additional 533 shares during the last quarter. Riverview Trust Co boosted its holdings in Fastenal by 100.0% during the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after purchasing an additional 292 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in Fastenal during the first quarter worth about $49,000. Finally, Private Wealth Management Group LLC boosted its holdings in Fastenal by 111.9% during the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after purchasing an additional 339 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Northcoast Research assumed coverage on shares of Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating on the stock. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Morgan Stanley set a $40.00 target price on shares of Fastenal and gave the company an “equal weight” rating in a research note on Thursday, July 3rd. Barclays set a $45.00 target price on shares of Fastenal and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.50.

Fastenal Stock Down 0.8%

Shares of NASDAQ FAST opened at $42.54 on Tuesday. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63. The firm has a market capitalization of $48.84 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 3.91 and a beta of 0.94. The firm has a fifty day simple moving average of $47.14 and a two-hundred day simple moving average of $44.32.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Monday, October 13th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 earnings per share. Equities analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, October 28th. Fastenal’s dividend payout ratio (DPR) is currently 82.24%.

Insider Activity

In other Fastenal news, EVP William Joseph Drazkowski sold 6,842 shares of the firm’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. This trade represents a 36.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 have sold a total of 90,178 shares of company stock valued at $4,336,603 in the last quarter. 0.37% of the stock is owned by company insiders.

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.