EP Wealth Advisors LLC Buys New Shares in Fastenal Company $FAST

EP Wealth Advisors LLC acquired a new stake in shares of Fastenal Company (NASDAQ:FAST - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 24,916 shares of the company's stock, valued at approximately $1,197,000.

Several other hedge funds also recently bought and sold shares of the company. Elyxium Wealth LLC bought a new position in shares of Fastenal in the fourth quarter worth about $25,000. Palladiem LLC purchased a new stake in Fastenal during the fourth quarter valued at approximately $25,000. Evergreen Advisors LLC purchased a new position in shares of Fastenal in the 1st quarter worth approximately $26,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Fastenal during the 2nd quarter valued at approximately $26,000. Finally, MV Capital Management Inc. purchased a new stake in Fastenal during the 4th quarter valued at $29,000. Institutional investors own 81.38% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Sanford C. Bernstein reiterated an "underperform" rating on shares of Fastenal in a research report on Wednesday, July 15th. Wolfe Research reissued an "underperform" rating and issued a $47.00 price objective on shares of Fastenal in a research note on Thursday, July 9th. Weiss Ratings cut Fastenal from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. Morgan Stanley increased their price target on Fastenal from $48.00 to $52.00 and gave the stock an "equal weight" rating in a report on Thursday, July 16th. Finally, Robert W. Baird set a $54.00 price objective on Fastenal in a report on Friday, August 7th. Five investment 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $49.17.

Fastenal Price Performance

NASDAQ:FAST opened at $51.26 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21. The company has a 50-day moving average of $47.96 and a 200 day moving average of $46.38. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $52.92. The firm has a market cap of $58.82 billion, a PE ratio of 43.44, a price-to-earnings-growth ratio of 3.20 and a beta of 0.72.

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

Fastenal Increases Dividend

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

Insider Activity

In other Fastenal news, Director Rita J. Heise sold 34,964 shares of Fastenal stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total value of $1,749,948.20. Following the transaction, the director owned 20,000 shares in the company, valued at $1,001,000. The trade was a 63.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Ancius sold 3,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the sale, the director directly owned 58,690 shares of the company's stock, valued at approximately $2,875,810. The trade was a 4.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is owned by insiders.

Fastenal 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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