Brady Martz Wealth Solutions LLC Purchases 9,635 Shares of Fastenal Company $FAST

Key Points

• Brady Martz Wealth Solutions LLC increased its stake in Fastenal Company by 98.8%, acquiring an additional 9,635 shares to reach a total of 19,383 shares valued at approximately $814,000.
• Institutional investors collectively hold 81.38% of Fastenal's stock, with numerous firms significantly increasing their stakes in recent quarters.
• Fastenal reported earnings of $0.29 per share for the last quarter, surpassing analyst estimates and reflecting an 8.6% year-on-year revenue growth to $2.08 billion.

Brady Martz Wealth Solutions LLC lifted its holdings in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 98.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,383 shares of the company's stock after buying an additional 9,635 shares during the period. Brady Martz Wealth Solutions LLC's holdings in Fastenal were worth $814,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Fastenal by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 73,317,271 shares of the company's stock worth $5,685,754,000 after purchasing an additional 1,016,479 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Fastenal by 8.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company's stock worth $1,753,864,000 after purchasing an additional 1,850,871 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Fastenal by 1.7% in the 1st quarter. Baird Financial Group Inc. now owns 8,418,765 shares of the company's stock worth $652,875,000 after purchasing an additional 142,972 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Fastenal by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 6,591,850 shares of the company's stock worth $511,198,000 after purchasing an additional 168,830 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Fastenal by 11.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,933,636 shares of the company's stock worth $460,153,000 after purchasing an additional 613,254 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Loop Capital reaffirmed a "hold" rating on shares of Fastenal in a report on Tuesday, July 15th. Stifel Nicolaus set a $82.00 target price on Fastenal in a report on Thursday, July 3rd. Baird R W raised Fastenal from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Northcoast Research initiated coverage on Fastenal in a research note on Thursday, August 21st. They issued a "neutral" rating for the company. Finally, Stephens increased their price target on Fastenal from $40.00 to $45.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $46.82.

Fastenal Trading Down 1.0%

Shares of Fastenal stock traded down $0.46 on Monday, hitting $47.12. 5,785,110 shares of the company's stock traded hands, compared to its average volume of 5,858,801. The company has a fifty day moving average of $47.89 and a two-hundred day moving average of $43.00. Fastenal Company has a one year low of $34.69 and a one year high of $50.63. The company has a market capitalization of $54.08 billion, a price-to-earnings ratio of 45.31, a price-to-earnings-growth ratio of 4.33 and a beta of 0.97. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.22 and a quick ratio of 2.12.

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 the consensus estimate of $0.28 by $0.01. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The business had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The firm's revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, July 29th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, July 29th. This represents a $0.88 annualized dividend and a yield of 1.9%. Fastenal's dividend payout ratio (DPR) is currently 84.62%.

Insiders Place Their Bets

In related news, EVP William Joseph Drazkowski sold 6,842 shares of the firm'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 completion of the sale, the executive vice president owned 11,994 shares of the company's stock, valued at $583,747.98. This trade represents a 36.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John Lewis Soderberg sold 34,612 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $48.03, for a total value of $1,662,414.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,230 shares of company stock worth $5,288,364. Company insiders own 0.37% of the company's stock.

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.