Thurston Springer Miller Herd & Titak Inc. Makes New $155,000 Investment in Fastenal (NASDAQ:FAST)

Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Fastenal (NASDAQ:FAST) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,464 shares of the company’s stock, valued at approximately $155,000.

Other institutional investors also recently bought and sold shares of the company. Baird Financial Group Inc. boosted its stake in Fastenal by 15.2% during the 4th quarter. Baird Financial Group Inc. now owns 7,928,209 shares of the company’s stock valued at $513,510,000 after acquiring an additional 1,043,529 shares during the last quarter. Norges Bank bought a new position in shares of Fastenal in the 4th quarter worth about $405,513,000. Envestnet Asset Management Inc. lifted its position in shares of Fastenal by 2.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 4,800,534 shares of the company’s stock worth $310,931,000 after buying an additional 109,028 shares during the last quarter. TD Asset Management Inc lifted its position in shares of Fastenal by 21.2% in the 1st quarter. TD Asset Management Inc now owns 3,248,853 shares of the company’s stock worth $250,617,000 after buying an additional 569,118 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Fastenal by 46.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 3,185,855 shares of the company’s stock worth $245,757,000 after acquiring an additional 1,006,402 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Price Performance

Shares of FAST traded down $0.83 during mid-day trading on Tuesday, hitting $65.57. The company’s stock had a trading volume of 3,210,634 shares, compared to its average volume of 3,703,477. The firm has a 50-day moving average price of $65.52 and a 200 day moving average price of $69.11. The stock has a market capitalization of $37.55 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 3.65 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. Fastenal has a fifty-two week low of $53.83 and a fifty-two week high of $79.04.

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

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, July 26th will be paid a $0.39 dividend. The ex-dividend date is Friday, July 26th. This represents a $1.56 annualized dividend and a dividend yield of 2.38%. Fastenal’s dividend payout ratio is currently 77.61%.

Analyst Ratings Changes

A number of analysts recently weighed in on FAST shares. Jefferies Financial Group dropped their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Stephens reaffirmed an “equal weight” rating and issued a $56.00 price objective on shares of Fastenal in a report on Monday, July 15th. Stifel Nicolaus reissued 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. Loop Capital lowered their target price 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. Finally, HSBC raised their target price 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. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $66.67.

Insider Transactions at Fastenal

In other news, Director Hsenghung Sam Hsu bought 500 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was bought 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 directly owns 3,500 shares in the company, valued at approximately $221,480. The purchase was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total transaction of $732,191.96. Following the completion of the sale, the executive vice president now directly owns 26,176 shares in the company, valued at $1,677,096.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Hsenghung Sam Hsu purchased 500 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were bought at an average price of $63.28 per share, with a total value of $31,640.00. Following the completion of the acquisition, the director now owns 3,500 shares of the company’s stock, 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 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.