Fastenal Company $FAST Shares Bought by Court Place Advisors LLC

Key Points

• Court Place Advisors LLC increased its holdings in Fastenal by 92.6%, owning 25,912 shares valued at approximately $1,088,000 as of the latest disclosure.
• A significant portion of Fastenal's stock, 81.38%, is currently owned by institutional investors and hedge funds.
• Recent earnings reports show Fastenal beat EPS estimates with $0.29, leading to an expected EPS of 2.15 for the current year.

Court Place Advisors LLC grew its holdings in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 92.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,912 shares of the company's stock after acquiring an additional 12,456 shares during the period. Court Place Advisors LLC's holdings in Fastenal were worth $1,088,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FAST. Oregon Public Employees Retirement Fund grew its position in Fastenal by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company's stock worth $3,817,000 after buying an additional 130 shares during the last quarter. Welch & Forbes LLC grew its position in Fastenal by 0.4% in the first quarter. Welch & Forbes LLC now owns 32,992 shares of the company's stock worth $2,559,000 after buying an additional 135 shares during the last quarter. Principal Securities Inc. grew its position in Fastenal by 0.9% in the first quarter. Principal Securities Inc. now owns 15,886 shares of the company's stock worth $1,142,000 after buying an additional 140 shares during the last quarter. Essex Financial Services Inc. grew its position in Fastenal by 1.7% in the first quarter. Essex Financial Services Inc. now owns 8,870 shares of the company's stock worth $688,000 after buying an additional 147 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company's stock worth $487,000 after buying an additional 147 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wolfe Research restated a "positive" rating on shares of Fastenal in a research report on Monday, July 14th. JPMorgan Chase & Co. lifted their price target 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. Barclays assumed coverage on shares of Fastenal in a research report on Tuesday. They set a "positive" rating and a $49.00 price objective on the stock. Loop Capital reiterated a "hold" rating on shares of Fastenal in a research report on Tuesday, July 15th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Fastenal in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Fastenal presently has an average rating of "Hold" and a consensus target price of $47.41.

Insider Activity at Fastenal

In other Fastenal news, EVP John Lewis Soderberg sold 34,612 shares of Fastenal stock in a transaction on Friday, August 8th. The shares were sold at an average price of $48.03, for a total transaction of $1,662,414.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William Joseph Drazkowski sold 6,842 shares of Fastenal 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 sale, the executive vice president directly owned 11,994 shares of the company's stock, valued at $583,747.98. This trade represents a 36.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,230 shares of company stock worth $5,288,364. Corporate insiders own 0.37% of the company's stock.

Fastenal Trading Down 1.8%

NASDAQ FAST opened at $46.71 on Friday. The firm's 50 day moving average price is $48.25 and its two-hundred day moving average price is $43.82. The stock has a market cap of $53.61 billion, a price-to-earnings ratio of 44.91, a PEG ratio of 4.31 and a beta of 0.94. Fastenal Company has a twelve month low of $34.94 and a twelve month high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.12 and a current ratio of 4.22.

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

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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