HB Wealth Management LLC Buys 875 Shares of Fastenal (NASDAQ:FAST)

HB Wealth Management LLC lifted its position in Fastenal (NASDAQ:FAST) by 9.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,343 shares of the company’s stock after purchasing an additional 875 shares during the period. HB Wealth Management LLC’s holdings in Fastenal were worth $650,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FAST. Central Valley Advisors LLC bought a new position in Fastenal in the second quarter worth approximately $28,000. MCF Advisors LLC raised its position in shares of Fastenal by 2,172.2% in the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after acquiring an additional 391 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Fastenal during the 2nd quarter worth $32,000. OFI Invest Asset Management bought a new stake in Fastenal during the second quarter valued at about $35,000. Finally, LRI Investments LLC purchased a new position in Fastenal in the first quarter valued at about $39,000. Institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

FAST has been the subject of several recent analyst reports. Stifel Nicolaus restated 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. Robert W. Baird cut their price target on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Stephens reaffirmed an “equal weight” rating and issued a $56.00 price target on shares of Fastenal in a report on Monday, July 15th. Finally, 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. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.67.

Fastenal Trading Up 0.3 %

FAST stock traded up $0.17 during mid-day trading on Thursday, hitting $67.58. 164,397 shares of the company were exchanged, compared to its average volume of 3,498,181. Fastenal has a 12-month low of $53.83 and a 12-month high of $79.04. The firm has a market capitalization of $38.69 billion, a P/E ratio of 33.54, a PEG ratio of 3.65 and a beta of 1.01. The business has a fifty day simple moving average of $66.34 and a 200-day simple moving average of $68.82. 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 (NASDAQ:FAST) last released 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 company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. Fastenal’s revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. On average, equities research analysts predict that Fastenal will post 2.05 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.31%. The ex-dividend date was Friday, July 26th. Fastenal’s payout ratio is 77.61%.

Insider Activity at Fastenal

In related news, Director Hsenghung Sam Hsu bought 500 shares of the stock in a transaction dated Monday, June 10th. The stock was acquired at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the acquisition, the director now owns 3,500 shares in the company, valued at approximately $221,480. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Fastenal news, Director Hsenghung Sam Hsu bought 500 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average cost of $63.28 per share, with a total value of $31,640.00. Following the acquisition, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $221,480. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,489,266.52. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

About Fastenal

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.