Compass Ion Advisors LLC Has $755,000 Stake in Fastenal Company $FAST

Key Points

• Compass Ion Advisors LLC has increased its holdings in Fastenal Company by 85.1%, acquiring an additional 8,271 shares, bringing their total to 17,988 shares valued at approximately $755,000.
• Fastenal's recent quarterly earnings showed an EPS of $0.29, exceeding analyst expectations, with revenue amounting to $2.08 billion, a year-over-year increase of 8.6%.
• Institutional investors own 81.38% of Fastenal's stock, with several firms significantly increasing their stakes during the past quarters, indicating strong institutional interest in the company.

Compass Ion Advisors LLC boosted its holdings in Fastenal Company (NASDAQ:FAST - Free Report) by 85.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,988 shares of the company's stock after buying an additional 8,271 shares during the quarter. Compass Ion Advisors LLC's holdings in Fastenal were worth $755,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in Fastenal by 8.9% during 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. Picton Mahoney Asset Management grew its position in Fastenal by 7.5% during the 1st quarter. Picton Mahoney Asset Management now owns 181,482 shares of the company's stock worth $14,074,000 after purchasing an additional 12,721 shares in the last quarter. KLP Kapitalforvaltning AS grew its position in Fastenal by 3.9% during the 1st quarter. KLP Kapitalforvaltning AS now owns 195,748 shares of the company's stock worth $15,180,000 after purchasing an additional 7,400 shares in the last quarter. Raiffeisen Bank International AG grew its position in Fastenal by 21.5% during the 1st quarter. Raiffeisen Bank International AG now owns 35,606 shares of the company's stock worth $2,712,000 after purchasing an additional 6,303 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Fastenal by 23.9% during the 1st quarter. Deutsche Bank AG now owns 2,459,124 shares of the company's stock worth $190,705,000 after purchasing an additional 473,987 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Wall Street Analysts Forecast Growth

FAST has been the topic of several research analyst reports. Morgan Stanley set a $40.00 price objective on shares of Fastenal and gave the stock an "equal weight" rating in a research report on Thursday, July 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Fastenal from $41.00 to $46.00 and gave the stock a "neutral" rating in a research report on Thursday, September 4th. Baird R W upgraded shares of Fastenal from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Wolfe Research restated a "positive" rating on shares of Fastenal in a report on Monday, July 14th. Finally, Stifel Nicolaus set a $82.00 price target on shares of Fastenal in a report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $46.82.

Fastenal Stock Down 1.0%

Shares of FAST stock traded down $0.46 on Monday, hitting $47.12. The company's stock had a trading volume of 5,785,110 shares, compared to its average volume of 6,551,939. 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 Company has a fifty-two week low of $34.69 and a fifty-two week high of $50.63. The firm's fifty day moving average price is $47.89 and its 200-day moving average price is $43.00. The stock has a market capitalization of $54.08 billion, a price-to-earnings ratio of 45.31, a P/E/G ratio of 4.33 and a beta of 0.97.

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

Fastenal Cuts Dividend

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

Insider Buying and Selling at Fastenal

In other Fastenal news, EVP William Joseph Drazkowski sold 6,842 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $48.67, for a total transaction of $333,000.14. Following the completion of the transaction, the executive vice president owned 11,994 shares of the company's stock, valued at $583,747.98. The trade was a 36.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffery Michael Watts sold 48,724 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 111,230 shares of company stock worth $5,288,364 in the last 90 days. 0.37% of the stock is currently 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.