Albert D Mason Inc. Purchases 16,409 Shares of Fastenal Company $FAST

Key Points

• Albert D Mason Inc. increased its stake in Fastenal Company by 87.9%, now owning 35,083 shares worth approximately $1.47 million after purchasing an additional 16,409 shares.
• Fastenal recently reported earnings of $0.29 per share, missing estimates by $0.01, with revenue matching expectations at $2.13 billion.
• The company declared a quarterly dividend of $0.22 per share set to be paid on November 25th, representing an annualized yield of 2.1%.

Albert D Mason Inc. grew its position in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 87.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,083 shares of the company's stock after purchasing an additional 16,409 shares during the period. Albert D Mason Inc.'s holdings in Fastenal were worth $1,473,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 1248 Management LLC bought a new stake in shares of Fastenal in the 1st quarter valued at about $36,000. Horizon Financial Services LLC lifted its stake in shares of Fastenal by 5,330.0% in the 1st quarter. Horizon Financial Services LLC now owns 543 shares of the company's stock valued at $42,000 after acquiring an additional 533 shares during the last quarter. Riverview Trust Co lifted its stake 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. Zions Bancorporation National Association UT bought a new stake in shares of Fastenal in the 1st quarter valued at about $49,000. Finally, Private Wealth Management Group LLC lifted its stake in shares of Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company's stock valued at $27,000 after acquiring an additional 339 shares during the last quarter. Institutional investors own 81.38% of the company's stock.

Fastenal Stock Up 1.2%

FAST stock opened at $42.46 on Friday. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The business's 50 day moving average price is $47.83 and its two-hundred day moving average price is $44.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.12 and a current ratio of 4.26. The company has a market capitalization of $48.73 billion, a price-to-earnings ratio of 39.68, a price-to-earnings-growth ratio of 3.83 and a beta of 0.94.

Fastenal (NASDAQ:FAST - Get Free Report) last posted its earnings results on Monday, October 13th. The company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The firm had revenue of $2.13 billion for the quarter, compared to analysts' expectations of $2.13 billion. During the same quarter last year, the company posted $0.26 EPS. The firm's revenue was up 11.7% on a year-over-year basis. As a group, analysts forecast that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, October 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.1%. Fastenal's dividend payout ratio is 82.24%.

Analysts Set New Price Targets

FAST has been the subject of a number of recent research reports. Weiss Ratings reissued a "buy (b)" rating on shares of Fastenal in a research note on Wednesday, October 8th. Stephens upped their price target on Fastenal from $40.00 to $45.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Loop Capital reaffirmed a "hold" rating on shares of Fastenal in a research report on Tuesday, July 15th. Northcoast Research initiated coverage on Fastenal in a research report on Thursday, August 21st. They set a "neutral" rating for the company. Finally, Barclays set a $45.00 price target on Fastenal and gave the company an "equal weight" rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $46.50.

Insider Transactions at Fastenal

In other Fastenal news, EVP William Joseph Drazkowski sold 6,842 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $48.67, for a total transaction of $333,000.14. Following the transaction, the executive vice president owned 11,994 shares in the company, valued at approximately $583,747.98. This represents a 36.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffery Michael Watts sold 48,724 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $48.05, for a total value of $2,341,188.20. Following the transaction, the insider owned 11,880 shares in the company, valued at $570,834. This trade represents a 80.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,178 shares of company stock worth $4,336,603 over the last quarter. Insiders own 0.37% of the company's stock.

Fastenal Company 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.

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