Fastenal Company $FAST Shares Purchased by Colonial Trust Advisors

by · The Markets Daily

Colonial Trust Advisors boosted its position in Fastenal Company (NASDAQ:FAST – Free Report) by 107.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,088 shares of the company’s stock after buying an additional 3,149 shares during the period. Colonial Trust Advisors’ holdings in Fastenal were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Riverview Trust Co boosted its holdings in shares of Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after acquiring an additional 292 shares during the last quarter. Hilltop National Bank purchased a new position in shares of Fastenal during the second quarter worth $27,000. Private Wealth Management Group LLC lifted its position in Fastenal by 111.9% during the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after purchasing an additional 339 shares during the period. Armstrong Advisory Group Inc. boosted its holdings in Fastenal by 100.0% in the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after purchasing an additional 348 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in Fastenal by 95.0% in the second quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock valued at $29,000 after purchasing an additional 342 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fastenal

In related news, Director Sarah N. Nielsen bought 1,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average cost of $39.60 per share, with a total value of $39,600.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $198,000. This trade represents a 25.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Hsenghung Sam Hsu acquired 1,000 shares of the stock in a transaction dated Thursday, November 13th. The shares were bought at an average cost of $49.58 per share, with a total value of $49,580.00. Following the completion of the transaction, the director owned 10,000 shares of the company’s stock, valued at approximately $495,800. This represents a 11.11% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 3,000 shares of company stock valued at $131,630. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Northcoast Research started coverage on Fastenal in a research note on Thursday, August 21st. They set a “neutral” rating for the company. Barclays reduced their price target on Fastenal from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, November 13th. Sanford C. Bernstein assumed coverage on shares of Fastenal in a report on Tuesday, November 11th. They issued an “underperform” rating and a $38.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, September 4th. Finally, Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $46.32.

Check Out Our Latest Analysis on FAST

Fastenal Stock Performance

Shares of Fastenal stock opened at $40.42 on Friday. The business’s fifty day simple moving average is $43.20 and its 200-day simple moving average is $44.36. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The firm has a market cap of $46.40 billion, a PE ratio of 37.77, a price-to-earnings-growth ratio of 3.75 and a beta of 0.92.

Fastenal (NASDAQ:FAST – Get Free Report) last announced its quarterly earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. Fastenal’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. Equities analysts forecast that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, October 28th. This represents a $0.88 annualized dividend and a yield of 2.2%. Fastenal’s dividend payout ratio is presently 82.24%.

About Fastenal

(Free Report)

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.

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