Apollon Wealth Management LLC Has $1.61 Million Holdings in Fastenal Company $FAST

Key Points

• Apollon Wealth Management LLC increased its holdings in Fastenal Company by 97.8%, owning now 38,317 shares valued at approximately $1.61 million.
• Fastenal reported a quarterly EPS of $0.29, missing the consensus estimate of $0.30, while its revenue increased 11.7% year-over-year to $2.13 billion.
• The company announced a quarterly dividend of $0.22 per share to be paid on November 25th, with an annualized yield of 2.1%.

Apollon Wealth Management LLC increased its position in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 97.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,317 shares of the company's stock after acquiring an additional 18,945 shares during the quarter. Apollon Wealth Management LLC's holdings in Fastenal were worth $1,609,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its holdings in shares of Fastenal by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company's stock valued at $3,817,000 after acquiring an additional 130 shares during the period. Welch & Forbes LLC raised its holdings in shares of Fastenal by 0.4% during the first quarter. Welch & Forbes LLC now owns 32,992 shares of the company's stock valued at $2,559,000 after acquiring an additional 135 shares during the period. Principal Securities Inc. raised its holdings in shares of Fastenal by 0.9% during the first quarter. Principal Securities Inc. now owns 15,886 shares of the company's stock valued at $1,142,000 after acquiring an additional 140 shares during the period. Essex Financial Services Inc. raised its holdings in shares of Fastenal by 1.7% during the first quarter. Essex Financial Services Inc. now owns 8,870 shares of the company's stock valued at $688,000 after acquiring an additional 147 shares during the period. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of Fastenal by 2.4% during the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company's stock valued at $487,000 after acquiring an additional 147 shares during the period. Institutional investors and hedge funds own 81.38% of the company's stock.

Fastenal Stock Performance

FAST stock opened at $42.33 on Tuesday. The company has a quick ratio of 2.12, a current ratio of 4.22 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $48.58 billion, a price-to-earnings ratio of 40.70, a P/E/G ratio of 4.15 and a beta of 0.94. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63. The firm has a 50 day moving average of $48.20 and a two-hundred day moving average of $43.97.

Fastenal (NASDAQ:FAST - Get Free Report) last posted its earnings results on Monday, October 13th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The business's revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, equities analysts anticipate that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, October 28th. Fastenal's dividend payout ratio is currently 84.62%.

Analyst Ratings Changes

A number of brokerages recently commented on FAST. Morgan Stanley set a $40.00 price objective on shares of Fastenal and gave the company an "equal weight" rating in a research report on Thursday, July 3rd. Barclays began coverage on shares of Fastenal in a research report on Tuesday, October 7th. They set a "positive" rating and a $49.00 price objective on the stock. Wolfe Research reaffirmed a "positive" rating on shares of Fastenal in a research report on Monday, July 14th. Baird R W raised shares of Fastenal from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Fastenal in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Fastenal presently has a consensus rating of "Hold" and a consensus price target of $47.41.

Insider Activity

In related news, insider Jeffery Michael Watts sold 48,724 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the completion of the sale, the insider directly owned 11,880 shares of the company's stock, valued at approximately $570,834. This represents a 80.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of the company's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $45.21, for a total transaction of $951,760.92. Following the sale, the chief financial officer directly owned 10,192 shares of the company's stock, valued at approximately $460,780.32. This represents a 67.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,230 shares of company stock valued at $5,288,364 in the last quarter. 0.37% of the stock is currently owned by corporate insiders.

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.

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