Baldwin Wealth Partners LLC MA Buys 16,134 Shares of Fastenal Company $FAST

Key Points

• Baldwin Wealth Partners LLC MA increased its stake in Fastenal Company by 72.8%, purchasing an additional 16,134 shares during the second quarter, bringing its total holdings to 38,292 shares valued at $1,608,000.
• Fastenal reported a $0.29 EPS for the last quarter, exceeding analysts' expectations of $0.28, with revenue of $2.08 billion, reflecting an 8.6% year-over-year increase.
• Several analysts upgraded their ratings for Fastenal, including Robert W. Baird, which changed its rating from "neutral" to "outperform" and raised the price target from $47 to $55.

Baldwin Wealth Partners LLC MA boosted its stake in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 72.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,292 shares of the company's stock after purchasing an additional 16,134 shares during the quarter. Baldwin Wealth Partners LLC MA's holdings in Fastenal were worth $1,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Patton Fund Management Inc. bought a new stake in Fastenal during the second quarter valued at about $229,000. Charles Schwab Investment Management Inc. boosted its position in Fastenal by 8.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company's stock valued at $1,753,864,000 after purchasing an additional 1,850,871 shares in the last quarter. Picton Mahoney Asset Management boosted its position in Fastenal by 7.5% during the first quarter. Picton Mahoney Asset Management now owns 181,482 shares of the company's stock valued at $14,074,000 after purchasing an additional 12,721 shares in the last quarter. KLP Kapitalforvaltning AS boosted its holdings in Fastenal by 3.9% in the first quarter. KLP Kapitalforvaltning AS now owns 195,748 shares of the company's stock worth $15,180,000 after acquiring an additional 7,400 shares in the last quarter. Finally, Raiffeisen Bank International AG boosted its holdings in Fastenal by 21.5% in the first quarter. Raiffeisen Bank International AG now owns 35,606 shares of the company's stock worth $2,712,000 after acquiring an additional 6,303 shares in the last quarter. Institutional investors own 81.38% of the company's stock.

Fastenal Trading Down 1.8%

Fastenal stock opened at $46.71 on Friday. The company has a quick ratio of 2.12, a current ratio of 4.22 and a debt-to-equity ratio of 0.03. Fastenal Company has a 52 week low of $34.94 and a 52 week high of $50.63. The company has a market capitalization of $53.61 billion, a price-to-earnings ratio of 44.91, a price-to-earnings-growth ratio of 4.31 and a beta of 0.94. The stock has a 50-day moving average price of $48.25 and a 200 day moving average price of $43.82.

Fastenal (NASDAQ:FAST - Get Free Report) last released its earnings results on Monday, July 14th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company's revenue was up 8.6% compared to the same quarter last year. Sell-side analysts anticipate that Fastenal Company will post 2.15 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Robert W. Baird raised Fastenal from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $47.00 to $55.00 in a report on Thursday, August 7th. Baird R W raised Fastenal from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Morgan Stanley set a $40.00 price target on Fastenal and gave the stock an "equal weight" rating in a report on Thursday, July 3rd. Stephens raised their price target on Fastenal from $40.00 to $45.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Fastenal in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $47.41.

Insider Transactions at Fastenal

In related news, CFO Sheryl Ann Lisowski sold 21,052 shares of Fastenal stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 10,192 shares in the company, valued at approximately $460,780.32. This trade represents a 67.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffery Michael Watts sold 48,724 shares of Fastenal stock in a transaction that occurred on Friday, August 8th. The shares were 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 of the company's stock, valued at approximately $570,834. This represents a 80.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,230 shares of company stock worth $5,288,364. 0.37% of the stock is owned by company insiders.

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.

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