Fastenal Company $FAST Shares Bought by Cwm LLC

Key Points

• Cwm LLC significantly increased its holdings in Fastenal Company by 96.6% during the second quarter, now owning 55,731 shares valued at $2.34 million.
• Fastenal's stock is currently priced at $42.46, with a market capitalization of $48.73 billion, a PE ratio of 39.68, and a quick ratio of 2.12.
• Insider Jeffery Michael Watts sold 48,724 shares at an average price of $48.05, reducing his ownership by 80.40% to 11,880 shares.

Cwm LLC grew its holdings in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 96.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 55,731 shares of the company's stock after acquiring an additional 27,379 shares during the quarter. Cwm LLC's holdings in Fastenal were worth $2,341,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in Fastenal during the 1st quarter worth $36,000. Horizon Financial Services LLC boosted its position in Fastenal by 5,330.0% during the 1st quarter. Horizon Financial Services LLC now owns 543 shares of the company's stock worth $42,000 after acquiring an additional 533 shares during the period. Riverview Trust Co boosted its position in Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company's stock worth $25,000 after acquiring an additional 292 shares during the period. Zions Bancorporation National Association UT acquired a new position in Fastenal during the 1st quarter worth $49,000. Finally, Hilltop National Bank acquired a new position in Fastenal during the 2nd quarter worth $27,000. Institutional investors and hedge funds own 81.38% of the company's stock.

Insider Buying and Selling

In other news, insider Jeffery Michael Watts sold 48,724 shares of Fastenal 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 owned 11,880 shares in the company, valued at approximately $570,834. The trade was a 80.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $1,662,414.36. The disclosure for this sale can be found here. Insiders sold 90,178 shares of company stock valued at $4,336,603 over the last ninety days. 0.37% of the stock is currently owned by company insiders.

Fastenal Stock Up 1.2%

Shares of Fastenal stock opened at $42.46 on Friday. The stock's fifty day moving average is $47.83 and its 200-day moving average is $44.03. The firm has a market capitalization of $48.73 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 3.87 and a beta of 0.94. The company has a quick ratio of 2.12, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its earnings results on Monday, October 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The firm's revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. Equities analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, October 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.1%. Fastenal's payout ratio is 82.24%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FAST. Stephens boosted their price objective on Fastenal from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Robert W. Baird dropped their price objective on Fastenal from $53.00 to $49.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 14th. Northcoast Research began coverage on Fastenal in a research note on Thursday, August 21st. They issued a "neutral" rating on the stock. Barclays set a $45.00 price objective on Fastenal and gave the stock an "equal weight" rating in a research note on Tuesday. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Fastenal in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Fastenal currently has a consensus rating of "Hold" and an average target price of $46.50.

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.

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