Shine Investment Advisory Services Inc. lifted its position in shares of Fastenal (NASDAQ:FAST) by 100.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,016 shares of the company’s stock after purchasing an additional 508 shares during the period. Shine Investment Advisory Services Inc.’s holdings in Fastenal were worth $33,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. boosted its holdings in shares of Fastenal by 94.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 774 shares of the company’s stock worth $25,000 after buying an additional 375 shares during the period. Investors Research Corp bought a new stake in shares of Fastenal during the 1st quarter worth about $26,000. Clarus Wealth Advisors boosted its holdings in shares of Fastenal by 101.2% during the 2nd quarter. Clarus Wealth Advisors now owns 845 shares of the company’s stock worth $28,000 after buying an additional 425 shares during the period. Strategy Asset Managers LLC bought a new stake in shares of Fastenal during the 1st quarter worth about $32,000. Finally, Trustcore Financial Services LLC bought a new stake in shares of Fastenal during the 1st quarter worth about $43,000. Institutional investors own 85.36% of the company’s stock.
Several brokerages recently commented on FAST. Wells Fargo & Co reduced their target price on shares of Fastenal from $35.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, July 12th. Raymond James reduced their target price on shares of Fastenal from $39.00 to $37.00 and set a “strong-buy” rating for the company in a report on Friday, July 12th. BidaskClub raised shares of Fastenal from a “strong sell” rating to a “sell” rating in a report on Friday, July 26th. William Blair downgraded shares of Fastenal from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 7th. Finally, Buckingham Research reduced their target price on shares of Fastenal from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Fastenal presently has a consensus rating of “Hold” and an average price target of $31.36.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Thursday, July 11th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.01). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. Fastenal had a net margin of 14.74% and a return on equity of 32.27%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. As a group, research analysts anticipate that Fastenal will post 1.38 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, July 25th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Wednesday, July 24th. Fastenal’s dividend payout ratio is currently 66.67%.
In other Fastenal news, CAO Sheryl Ann Lisowski sold 9,166 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $64.22, for a total value of $588,640.52. Following the completion of the sale, the chief accounting officer now owns 9,466 shares of the company’s stock, valued at approximately $607,906.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Ancius acquired 1,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $28.99 per share, with a total value of $28,990.00. The disclosure for this purchase can be found here. Insiders acquired a total of 4,604 shares of company stock valued at $138,479 in the last three months. Insiders own 0.62% of the company’s stock.
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as 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.
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