Guggenheim Capital LLC Has $20.90 Million Stock Position in Fastenal Company $FAST

Guggenheim Capital LLC boosted its position in Fastenal Company (NASDAQ:FAST) by 139.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 497,601 shares of the company’s stock after acquiring an additional 289,793 shares during the period. Guggenheim Capital LLC’s holdings in Fastenal were worth $20,899,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC grew its position in Fastenal by 2.4% in the 1st 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 period. Advisory Alpha LLC raised 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 during the last quarter. Riverview Trust Co lifted its stake in shares of Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after buying an additional 292 shares in the last quarter. Financial Network Wealth Advisors LLC grew its holdings in shares of Fastenal by 19.4% during the first quarter. Financial Network Wealth Advisors LLC now owns 1,980 shares of the company’s stock valued at $154,000 after buying an additional 322 shares during the last quarter. Finally, Private Wealth Management Group LLC increased its position in shares of 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 acquiring an additional 339 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Sarah N. Nielsen bought 1,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was purchased at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $198,000. This trade represents a 25.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Hsenghung Sam Hsu bought 1,000 shares of Fastenal stock in a transaction dated Thursday, November 13th. The stock was acquired at an average price of $49.58 per share, with a total value of $49,580.00. Following the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately $495,800. This represents a 11.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 3,000 shares of company stock valued at $131,630 in the last quarter. 0.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FAST has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fastenal in a research report 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. Northcoast Research assumed coverage on Fastenal in a research report on Thursday, August 21st. They set a “neutral” rating on the stock. JPMorgan Chase & Co. upped their price target on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, September 4th. Finally, Sanford C. Bernstein started coverage on Fastenal in a research note on Tuesday, November 11th. They set an “underperform” rating and a $38.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Fastenal presently has an average rating of “Hold” and a consensus price target of $46.32.

Fastenal Stock Performance

Shares of FAST stock opened at $41.75 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. The firm has a market cap of $47.93 billion, a price-to-earnings ratio of 39.02, a P/E/G ratio of 3.45 and a beta of 0.89. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. The firm’s 50-day simple moving average is $42.66 and its two-hundred day simple moving average is $44.37.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business earned $0.26 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts forecast that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, October 28th. Fastenal’s dividend payout ratio is currently 82.24%.

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.