Fastenal (NASDAQ:FAST) Shares Purchased by Armstrong Henry H Associates Inc.

Armstrong Henry H Associates Inc. increased its stake in shares of Fastenal (NASDAQ:FAST) by 2.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 27,987 shares of the company’s stock after purchasing an additional 630 shares during the period. Fastenal makes up approximately 0.2% of Armstrong Henry H Associates Inc.’s investment portfolio, making the stock its 25th largest position. Armstrong Henry H Associates Inc.’s holdings in Fastenal were worth $1,999,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Central Valley Advisors LLC acquired a new stake in shares of Fastenal in the second quarter valued at $28,000. MCF Advisors LLC grew its position in Fastenal by 2,172.2% in the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after acquiring an additional 391 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in Fastenal during the second quarter worth about $32,000. Crewe Advisors LLC lifted its position in shares of Fastenal by 528.4% during the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock worth $32,000 after purchasing an additional 428 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of Fastenal in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of FAST opened at $71.38 on Thursday. The company’s 50 day simple moving average is $68.54 and its 200-day simple moving average is $68.24. The firm has a market cap of $40.87 billion, a PE ratio of 35.51, a price-to-earnings-growth ratio of 3.92 and a beta of 1.01. Fastenal has a 12-month low of $53.94 and a 12-month high of $79.04. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, July 12th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the business posted $0.52 earnings per share. Fastenal’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities analysts predict that Fastenal will post 2.04 EPS for the current year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.56 dividend on an annualized basis and a yield of 2.19%. Fastenal’s payout ratio is 77.61%.

Insider Buying and Selling at Fastenal

In related news, CEO Daniel L. Florness sold 45,744 shares of the 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 completion of the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,489,266.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

FAST has been the topic of a number of research reports. Stephens reiterated an “equal weight” rating and set a $56.00 target price on shares of Fastenal in a report on Monday, July 15th. Stifel Nicolaus reiterated a “buy” rating and issued a $80.00 price objective (down from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Jefferies Financial Group lowered their target price on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Finally, Morgan Stanley began coverage on shares of Fastenal in a research report on Friday, September 6th. They issued an “equal weight” rating and a $72.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.43.

Fastenal 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.