Brookstone Capital Management Increases Stake in Fastenal (NASDAQ:FAST)

Brookstone Capital Management increased its holdings in Fastenal (NASDAQ:FAST) by 10.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,530 shares of the company’s stock after purchasing an additional 436 shares during the quarter. Brookstone Capital Management’s holdings in Fastenal were worth $285,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in FAST. Central Valley Advisors LLC bought a new position in shares of Fastenal in the second quarter worth approximately $28,000. MCF Advisors LLC boosted its position in Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after buying an additional 391 shares during the period. Triad Wealth Partners LLC bought a new stake in Fastenal in the 2nd quarter worth $32,000. LRI Investments LLC purchased a new position in shares of Fastenal in the first quarter valued at about $39,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Fastenal by 283.2% during the fourth quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock valued at $49,000 after acquiring an additional 558 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on FAST shares. Stifel Nicolaus reissued a “buy” rating and issued a $80.00 target price (down from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Jefferies Financial Group reduced their target price on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Robert W. Baird dropped their price target on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Finally, Stephens reissued an “equal weight” rating and set a $56.00 price objective on shares of Fastenal in a research report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $66.67.

Insiders Place Their Bets

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

Fastenal Trading Up 0.5 %

FAST opened at $66.90 on Wednesday. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. Fastenal has a 52 week low of $53.83 and a 52 week high of $79.04. The stock has a market cap of $38.30 billion, a PE ratio of 33.28, a PEG ratio of 3.65 and a beta of 1.01. The business has a 50 day moving average of $65.93 and a 200-day moving average of $68.88.

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

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, July 26th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Friday, July 26th. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

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.