49,629 Shares in Fastenal Company $FAST Purchased by Commerzbank Aktiengesellschaft FI

Key Points

• Commerzbank Aktiengesellschaft FI purchased 49,629 Fastenal shares worth approximately $2.38 million during the second quarter. Institutional investors and hedge funds collectively own 81.38% of FAST.
• Fastenal reported quarterly revenue of $2.39 billion, up 14.7% year over year, while earnings per share of $0.33 matched analyst estimates. Shares opened at $51.23, near the company’s 52-week high of $52.92.
• The company raised its quarterly dividend from $0.24 to $0.26 per share, implying a 2.0% annual yield. Analysts maintain a consensus “Hold” rating with an average price target of $49.17, while two directors recently sold shares.

Commerzbank Aktiengesellschaft FI bought a new position in shares of Fastenal Company (NASDAQ:FAST - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 49,629 shares of the company's stock, valued at approximately $2,384,000.

Several other institutional investors and hedge funds also recently bought and sold shares of FAST. Brighton Jones LLC acquired a new stake in Fastenal during the fourth quarter worth $496,000. Integrated Wealth Concepts LLC lifted its stake in shares of Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company's stock valued at $487,000 after purchasing an additional 147 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Fastenal during the 2nd quarter worth $158,000. Jump Financial LLC purchased a new position in shares of Fastenal during the 2nd quarter worth $2,199,000. Finally, Cary Street Partners Financial LLC grew its holdings in shares of Fastenal by 111.0% during the 2nd quarter. Cary Street Partners Financial LLC now owns 3,367 shares of the company's stock worth $141,000 after purchasing an additional 1,771 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fastenal news, Director Rita J. Heise sold 34,964 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total value of $1,749,948.20. Following the sale, the director directly owned 20,000 shares of the company's stock, valued at approximately $1,001,000. This represents a 63.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael J. Ancius sold 3,000 shares of the firm's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the completion of the sale, the director owned 58,690 shares in the company, valued at $2,875,810. The trade was a 4.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.28% of the company's stock.

Fastenal Stock Performance

Shares of FAST opened at $51.23 on Tuesday. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $52.92. The stock has a market capitalization of $58.79 billion, a PE ratio of 43.42, a PEG ratio of 3.18 and a beta of 0.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 4.18. The stock has a 50-day simple moving average of $47.58 and a 200-day simple moving average of $46.17.

Fastenal (NASDAQ:FAST - Get Free Report) last released its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, hitting analysts' consensus estimates of $0.33. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The business's quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. On average, analysts predict that Fastenal Company will post 1.26 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th will be issued a dividend of $0.26 per share. This is a boost from Fastenal's previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, July 28th. This represents a $1.04 annualized dividend and a yield of 2.0%. Fastenal's dividend payout ratio (DPR) is presently 88.14%.

Analyst Ratings Changes

Several brokerages recently issued reports on FAST. Morgan Stanley boosted their price objective on shares of Fastenal from $48.00 to $52.00 and gave the company an "equal weight" rating in a report on Thursday, July 16th. Wolfe Research reiterated an "underperform" rating and set a $47.00 price target on shares of Fastenal in a research report on Thursday, July 9th. Jefferies Financial Group reissued a "buy" rating on shares of Fastenal in a research note on Thursday, June 4th. Rothschild & Co Redburn set a $55.00 price objective on shares of Fastenal and gave the stock a "buy" rating in a research report on Monday, July 13th. Finally, Sanford C. Bernstein reiterated an "underperform" rating on shares of Fastenal in a report on Wednesday, July 15th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Fastenal has a consensus rating of "Hold" and a consensus price target of $49.17.

Fastenal Company Profile

Fastenal NASDAQ: FAST is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.

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