Lynx Investment Advisory Invests $77,000 in Fastenal (NASDAQ:FAST)

Lynx Investment Advisory bought a new stake in Fastenal (NASDAQ:FAST) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,221 shares of the company’s stock, valued at approximately $77,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System raised its holdings in shares of Fastenal by 0.7% in the 4th quarter. Arizona State Retirement System now owns 157,025 shares of the company’s stock valued at $10,171,000 after purchasing an additional 1,166 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Fastenal during the 4th quarter worth about $13,204,000. Fulton Bank N.A. boosted its position in shares of Fastenal by 3.8% during the 4th quarter. Fulton Bank N.A. now owns 29,438 shares of the company’s stock worth $1,907,000 after acquiring an additional 1,071 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Fastenal by 11.0% in the 4th quarter. Allworth Financial LP now owns 2,115 shares of the company’s stock valued at $137,000 after acquiring an additional 210 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC increased its holdings in shares of Fastenal by 6.6% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 75,927 shares of the company’s stock valued at $4,918,000 after acquiring an additional 4,716 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fastenal news, Director Hsenghung Sam Hsu bought 500 shares of the company’s stock in a transaction on Monday, June 10th. The stock was purchased at an average cost of $63.28 per share, for a total transaction of $31,640.00. Following the acquisition, the director now owns 3,500 shares of the company’s stock, valued at approximately $221,480. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP James C. Jansen sold 11,428 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total value of $732,191.96. Following the completion of the transaction, the executive vice president now owns 26,176 shares of the company’s stock, valued at approximately $1,677,096.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hsenghung Sam Hsu acquired 500 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was purchased at an average cost of $63.28 per share, with a total value of $31,640.00. Following the transaction, the director now owns 3,500 shares of the company’s stock, valued at $221,480. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by company insiders.

Fastenal Stock Performance

Fastenal stock traded down $0.83 during midday trading on Tuesday, hitting $65.57. 3,210,634 shares of the company’s stock were exchanged, compared to its average volume of 3,703,477. Fastenal has a 12-month low of $53.83 and a 12-month high of $79.04. The stock has a market cap of $37.55 billion, a price-to-earnings ratio of 32.62, a price-to-earnings-growth ratio of 3.65 and a beta of 1.01. The firm’s 50 day simple moving average is $65.52 and its 200 day simple moving average is $69.11. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Equities research analysts predict that Fastenal will post 2.05 EPS for the current year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, July 26th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, July 26th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.38%. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FAST shares. Stifel Nicolaus restated a “buy” rating and set a $80.00 target price (down previously from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Robert W. Baird lowered their target price on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Loop Capital cut their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. HSBC upped their price objective on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Finally, Stephens reiterated an “equal weight” rating and set a $56.00 target price on shares of Fastenal in a research report on Monday, July 15th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $66.67.

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.