Blair William & Co. IL Acquires 35,867 Shares of Fastenal Company (NASDAQ:FAST)

Key Points

• Blair William & Co. IL increased its stake in Fastenal Company by 1.1%, owning a total of 3,292,634 shares valued at approximately $255 million after acquiring 35,867 shares in the first quarter.
• Fastenal's recent quarterly earnings showed an EPS of $0.29, surpassing estimates, with a revenue of $2.08 billion marking an 8.6% increase year-over-year.
• Insider selling activity was noted, with executives like EVP John Lewis Soderberg and CFO Sheryl Ann Lisowski selling a combined total of 53,776 shares of Fastenal stock.

Blair William & Co. IL raised its holdings in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,292,634 shares of the company's stock after buying an additional 35,867 shares during the quarter. Blair William & Co. IL owned about 0.57% of Fastenal worth $255,344,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of FAST. Horizon Financial Services LLC raised its position in 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 buying an additional 533 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in Fastenal by 481.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 611 shares of the company's stock valued at $44,000 after purchasing an additional 506 shares during the period. TruNorth Capital Management LLC acquired a new position in Fastenal in the 1st quarter valued at $57,000. Golden State Wealth Management LLC raised its holdings in Fastenal by 5,661.5% in the 1st quarter. Golden State Wealth Management LLC now owns 749 shares of the company's stock valued at $58,000 after acquiring an additional 736 shares in the last quarter. Finally, Close Asset Management Ltd raised its holdings in Fastenal by 156.4% in the 1st quarter. Close Asset Management Ltd now owns 800 shares of the company's stock valued at $62,000 after acquiring an additional 488 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP John Lewis Soderberg sold 32,724 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $41.23, for a total transaction of $1,349,046.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of Fastenal stock in a transaction that occurred on Thursday, July 17th. The shares were 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 represents a 67.38% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.37% of the company's stock.

Fastenal Price Performance

FAST traded up $0.32 during midday trading on Thursday, reaching $47.10. 2,328,352 shares of the company's stock were exchanged, compared to its average volume of 6,648,997. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.22 and a quick ratio of 2.12. The stock has a market capitalization of $54.05 billion, a PE ratio of 45.25, a P/E/G ratio of 4.14 and a beta of 0.95. The business's 50-day moving average price is $43.56 and its 200 day moving average price is $40.37. Fastenal Company has a 1-year low of $32.04 and a 1-year high of $48.10.

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

Fastenal Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, July 29th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, July 29th. Fastenal's dividend payout ratio (DPR) is presently 84.62%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Stifel Nicolaus set a $82.00 price target on Fastenal in a research report on Thursday, July 3rd. Stephens increased 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 report on Tuesday, July 15th. Morgan Stanley set a $40.00 price objective on Fastenal and gave the company an "equal weight" rating in a research note on Thursday, July 3rd. Finally, Robert W. Baird raised Fastenal from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $47.00 to $55.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $46.36.

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.