Kathmere Capital Management LLC Purchases 1,972 Shares of Fastenal (NASDAQ:FAST)

Kathmere Capital Management LLC raised its position in Fastenal (NASDAQ:FAST) by 35.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,606 shares of the company’s stock after purchasing an additional 1,972 shares during the period. Kathmere Capital Management LLC’s holdings in Fastenal were worth $587,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in Fastenal by 5.7% in the fourth quarter. Van ECK Associates Corp now owns 101,713 shares of the company’s stock worth $6,588,000 after acquiring an additional 5,509 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Fastenal in the fourth quarter worth $747,000. Raymond James & Associates lifted its stake in Fastenal by 3.7% in the fourth quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock worth $58,304,000 after purchasing an additional 31,814 shares during the last quarter. Focus Financial Network Inc. ADV bought a new stake in Fastenal in the fourth quarter worth $1,282,000. Finally, ICW Investment Advisors LLC raised its stake in shares of Fastenal by 2.0% during the fourth quarter. ICW Investment Advisors LLC now owns 36,090 shares of the company’s stock valued at $2,338,000 after acquiring an additional 694 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP James C. Jansen sold 11,428 shares of the 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 sale, the executive vice president now 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 available at this link. In other news, EVP James C. Jansen sold 11,428 shares of the 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 sale, the executive vice president now 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 available at this link. Also, Director Hsenghung Sam Hsu purchased 500 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were purchased 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 of the company’s stock, valued at $221,480. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.

Fastenal Price Performance

Shares of FAST opened at $62.84 on Friday. The stock has a market cap of $35.98 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 3.38 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. Fastenal has a fifty-two week low of $53.83 and a fifty-two week high of $79.04. The firm’s 50-day simple moving average is $65.84 and its two-hundred day simple moving average is $68.62.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. Fastenal’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. Analysts anticipate that Fastenal will post 2.08 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Loop Capital lowered their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. HSBC increased their price target on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Finally, Robert W. Baird decreased their price target on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.80.

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.