Fastenal Company $FAST Shares Acquired by Drucker Wealth 3.0 LLC

Key Points

• Drucker Wealth 3.0 LLC increased its stake in Fastenal Company by 653.9% in Q2, owning 27,119 shares valued at approximately $1.18 million.
• Fastenal recently reported a Q2 earnings per share of $0.29, surpassing estimates and achieving a revenue of $2.08 billion, up 8.6% from the previous year.
• The company announced a quarterly dividend of $0.22 per share, with a dividend yield of 1.9%, set to be paid on November 25th.

Drucker Wealth 3.0 LLC lifted its stake in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 653.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,119 shares of the company's stock after acquiring an additional 23,522 shares during the period. Drucker Wealth 3.0 LLC's holdings in Fastenal were worth $1,177,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Eastern Bank grew its position in Fastenal by 100.1% during the second quarter. Eastern Bank now owns 1,969 shares of the company's stock valued at $83,000 after acquiring an additional 985 shares during the period. Aberdeen Group plc boosted its position in Fastenal by 107.5% in the 2nd quarter. Aberdeen Group plc now owns 1,590,537 shares of the company's stock valued at $66,580,000 after buying an additional 823,859 shares during the last quarter. Pinnacle West Asset Management Inc. increased its position in shares of Fastenal by 102.8% in the 2nd quarter. Pinnacle West Asset Management Inc. now owns 7,350 shares of the company's stock worth $309,000 after purchasing an additional 3,725 shares during the last quarter. JFS Wealth Advisors LLC increased its position in shares of Fastenal by 169.3% in the 2nd quarter. JFS Wealth Advisors LLC now owns 762 shares of the company's stock worth $32,000 after purchasing an additional 479 shares during the last quarter. Finally, PDS Planning Inc lifted its position in shares of Fastenal by 122.3% in the 2nd quarter. PDS Planning Inc now owns 7,790 shares of the company's stock worth $327,000 after buying an additional 4,286 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Insider Transactions at Fastenal

In other news, CFO Sheryl Ann Lisowski sold 21,052 shares of the firm's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $45.21, for a total value of $951,760.92. Following the transaction, the chief financial officer directly owned 10,192 shares in the company, valued at $460,780.32. This trade represents a 67.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Lewis Soderberg sold 34,612 shares of Fastenal stock in a transaction 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. Insiders sold a total of 111,230 shares of company stock valued at $5,288,364 over the last quarter. Corporate insiders own 0.37% of the company's stock.

Fastenal Price Performance

Shares of Fastenal stock opened at $45.78 on Friday. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. 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 firm has a fifty day moving average price of $48.26 and a two-hundred day moving average price of $43.87. The company has a market cap of $52.54 billion, a PE ratio of 44.02, a price-to-earnings-growth ratio of 4.23 and a beta of 0.94.

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

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.9%. Fastenal's dividend payout ratio (DPR) is currently 84.62%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FAST shares. JPMorgan Chase & Co. lifted their price objective on shares of Fastenal from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, September 4th. Robert W. Baird raised Fastenal from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $47.00 to $55.00 in a research report on Thursday, August 7th. Baird R W raised Fastenal from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Stephens raised their target price on Fastenal from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Wolfe Research reaffirmed a "positive" rating on shares of Fastenal in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $47.41.

About Fastenal

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.

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