Commerzbank Aktiengesellschaft FI Invests $2.38 Million in Fastenal Company $FAST

Commerzbank Aktiengesellschaft FI bought a new position in shares of Fastenal Company (NASDAQ:FAST) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 49,629 shares of the company’s stock, valued at approximately $2,384,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Trust Co. of Vermont purchased a new position in Fastenal in the second quarter valued at approximately $219,000. Principle Wealth Partners LLC acquired a new stake in Fastenal during the second quarter worth approximately $363,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Fastenal during the 2nd quarter worth approximately $143,708,000. Beverly Hills Private Wealth LLC purchased a new stake in shares of Fastenal during the 2nd quarter worth approximately $763,000. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of Fastenal in the 2nd quarter valued at $1,503,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Michael J. Ancius sold 3,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total value of $147,000.00. Following the completion of the sale, the director directly owned 58,690 shares of the company’s stock, valued at approximately $2,875,810. This represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rita J. Heise sold 34,964 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total transaction of $1,749,948.20. Following the sale, the director owned 20,000 shares of the company’s stock, valued at $1,001,000. This trade represents a 63.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.28% of the company’s stock.

Fastenal Price Performance

FAST stock opened at $51.23 on Tuesday. The company has a current ratio of 4.18, a quick ratio of 2.21 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $58.79 billion, a P/E ratio of 43.42, a PEG ratio of 3.18 and a beta of 0.72. The business has a 50 day simple moving average of $47.58 and a 200-day simple moving average of $46.17. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $52.92.

Fastenal (NASDAQ:FAST) last announced its earnings results on Tuesday, July 14th. The company reported $0.33 EPS for the quarter, meeting analysts’ consensus estimates of $0.33. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the company posted $0.29 EPS. The company’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, equities analysts anticipate that Fastenal Company will post 1.26 EPS for the current year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th will be paid a $0.26 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, July 28th. Fastenal’s dividend payout ratio (DPR) is presently 88.14%.

Analyst Ratings Changes

A number of research analysts recently commented on FAST shares. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a research report on Wednesday, July 15th. Weiss Ratings cut shares of Fastenal from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Wolfe Research restated an “underperform” rating and issued a $47.00 price objective on shares of Fastenal in a research note on Thursday, July 9th. Morgan Stanley raised their price objective on Fastenal from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Finally, Barclays cut their target price on Fastenal from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 16th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $49.17.

About Fastenal

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.