Fastenal Company $FAST Holdings Lifted by Midland Wealth Advisors LLC

Midland Wealth Advisors LLC increased its position in shares of Fastenal Company (NASDAQ:FAST) by 91.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,052 shares of the company’s stock after acquiring an additional 3,376 shares during the period. Midland Wealth Advisors LLC’s holdings in Fastenal were worth $296,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of FAST. Welch & Forbes LLC boosted its position in shares of Fastenal by 0.4% during the 1st quarter. Welch & Forbes LLC now owns 32,992 shares of the company’s stock valued at $2,559,000 after purchasing an additional 135 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in Fastenal by 2.4% during the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after purchasing an additional 147 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in Fastenal by 3.1% during the first quarter. Pinnacle Associates Ltd. now owns 5,057 shares of the company’s stock worth $392,000 after buying an additional 154 shares in the last quarter. Advisory Alpha LLC boosted its holdings in Fastenal by 5.8% during the first quarter. Advisory Alpha LLC now owns 3,407 shares of the company’s stock worth $264,000 after buying an additional 187 shares in the last quarter. Finally, Integrated Investment Consultants LLC grew its position in Fastenal by 3.5% in the first quarter. Integrated Investment Consultants LLC now owns 5,666 shares of the company’s stock worth $439,000 after buying an additional 190 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FAST has been the subject of a number of recent research reports. Stephens increased their price objective on Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. upped their target price on Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, September 4th. Loop Capital reiterated a “hold” rating on shares of Fastenal in a research report on Tuesday, July 15th. Robert W. Baird dropped their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. Finally, Barclays set a $45.00 price objective on shares of Fastenal and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. One investment 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.50.

Insider Activity at Fastenal

In related news, Director Hsenghung Sam Hsu bought 1,000 shares of the business’s stock in a transaction on Thursday, October 16th. The stock was bought at an average price of $42.45 per share, for a total transaction of $42,450.00. Following the transaction, the director directly owned 9,000 shares in the company, valued at $382,050. This represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Joseph Drazkowski sold 6,842 shares of Fastenal stock in a transaction on Friday, August 15th. The shares were sold at an average price of $48.67, for a total transaction of $333,000.14. Following the sale, the executive vice president directly owned 11,994 shares of the company’s stock, valued at $583,747.98. This trade represents a 36.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is currently owned by corporate insiders.

Fastenal Stock Performance

Shares of Fastenal stock opened at $41.35 on Tuesday. The stock has a market cap of $47.47 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 3.75 and a beta of 0.92. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $45.41 and a 200-day simple moving average of $44.42.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Monday, October 13th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the business posted $0.26 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, October 28th. This represents a $0.88 dividend on an annualized basis and a yield of 2.1%. Fastenal’s 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.