ICW Investment Advisors LLC Boosts Stake in Fastenal (NASDAQ:FAST)

ICW Investment Advisors LLC lifted its holdings in shares of Fastenal (NASDAQ:FAST) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,145 shares of the company’s stock after purchasing an additional 747 shares during the quarter. ICW Investment Advisors LLC’s holdings in Fastenal were worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Valeo Financial Advisors LLC grew its holdings in Fastenal by 3.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 5,234 shares of the company’s stock worth $309,000 after acquiring an additional 184 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in Fastenal by 1.1% in the first quarter. Brown Brothers Harriman & Co. now owns 17,837 shares of the company’s stock valued at $962,000 after buying an additional 190 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in Fastenal by 2.4% in the second quarter. Contravisory Investment Management Inc. now owns 8,311 shares of the company’s stock valued at $490,000 after buying an additional 192 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in Fastenal by 0.4% during the 4th quarter. 1832 Asset Management L.P. now owns 48,972 shares of the company’s stock worth $2,317,000 after buying an additional 195 shares during the last quarter. Finally, Archford Capital Strategies LLC boosted its position in shares of Fastenal by 1.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 20,760 shares of the company’s stock worth $1,213,000 after acquiring an additional 196 shares in the last quarter. 78.47% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Performance

NASDAQ FAST traded down $0.34 on Monday, reaching $59.67. The stock had a trading volume of 534,809 shares, compared to its average volume of 3,262,197. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.45 and a current ratio of 4.71. The stock has a market cap of $34.10 billion, a P/E ratio of 30.16, a price-to-earnings-growth ratio of 3.33 and a beta of 1.13. The business’s 50-day moving average price is $56.73 and its 200 day moving average price is $56.54. Fastenal has a 12-month low of $45.70 and a 12-month high of $60.93.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Thursday, October 12th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Fastenal had a net margin of 15.57% and a return on equity of 34.16%. Fastenal’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. As a group, equities analysts expect that Fastenal will post 2 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Wednesday, October 25th. Fastenal’s dividend payout ratio is currently 70.35%.

Insider Activity at Fastenal

In other news, Director Reyne K. Wisecup sold 19,564 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $56.78, for a total transaction of $1,110,843.92. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at $1,135,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Fastenal news, COO Terry Modock Owen sold 63,332 shares of Fastenal stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $57.24, for a total value of $3,625,123.68. Following the sale, the chief operating officer now owns 7,000 shares of the company’s stock, valued at approximately $400,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reyne K. Wisecup sold 19,564 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $56.78, for a total value of $1,110,843.92. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $1,135,600. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com started coverage on Fastenal in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Stifel Nicolaus raised their price objective on shares of Fastenal from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Finally, HSBC started coverage on shares of Fastenal in a report on Friday, September 15th. They issued a “hold” rating and a $59.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and a consensus target price of $57.71.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, 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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.