Callan Family Office LLC Takes $1.46 Million Position in Fastenal Company $FAST

Callan Family Office LLC bought a new stake in shares of Fastenal Company (NASDAQ:FAST - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 30,395 shares of the company's stock, valued at approximately $1,460,000.

Several other large investors have also added to or reduced their stakes in the business. G2 Capital Management LLC OH bought a new position in shares of Fastenal during the 2nd quarter worth approximately $376,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Fastenal during the 2nd quarter worth approximately $154,000. OneAscent Financial Services LLC acquired a new stake in shares of Fastenal during the 2nd quarter worth approximately $474,000. Allworth Financial LP bought a new stake in shares of Fastenal in the 2nd quarter valued at $764,000. Finally, Greenspring Advisors LLC bought a new stake in shares of Fastenal in the 2nd quarter valued at $383,000. Institutional investors and hedge funds own 81.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Barclays cut their target price on shares of Fastenal from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 16th. Weiss Ratings downgraded shares of Fastenal from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. Robert W. Baird set a $54.00 price objective on shares of Fastenal in a report on Friday, August 7th. Sanford C. Bernstein reissued an "underperform" rating on shares of Fastenal in a research report on Wednesday, July 15th. Finally, Wolfe Research restated an "underperform" rating and issued a $47.00 target price on shares of Fastenal in a research note on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $49.17.

Insider Buying and Selling

In other Fastenal news, Director Rita J. Heise sold 34,964 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total value of $1,749,948.20. Following the completion of the sale, the director owned 20,000 shares in the company, valued at approximately $1,001,000. This trade represents a 63.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael J. Ancius sold 3,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total value of $147,000.00. Following the sale, the director directly owned 58,690 shares of the company's stock, valued at $2,875,810. The trade was a 4.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.28% of the company's stock.

Fastenal Price Performance

Fastenal stock opened at $51.26 on Monday. The firm has a market capitalization of $58.82 billion, a price-to-earnings ratio of 43.44, a price-to-earnings-growth ratio of 3.20 and a beta of 0.72. The firm's fifty day moving average price is $47.96 and its two-hundred day moving average price is $46.38. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $52.92. The company has a current ratio of 4.18, a quick ratio of 2.21 and a debt-to-equity ratio of 0.01.

Fastenal (NASDAQ:FAST - Get Free Report) last posted its earnings results on Tuesday, July 14th. The company reported $0.33 EPS for the quarter, hitting the consensus estimate of $0.33. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. The firm's revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities research analysts predict that Fastenal Company will post 1.26 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. This is an increase from Fastenal's previous quarterly dividend of $0.24. Fastenal's dividend payout ratio is presently 88.14%.

Fastenal Company Profile

Fastenal NASDAQ: FAST is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.

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