Fastenal Company $FAST Shares Bought by Marino Stram & Associates LLC

Key Points

• Marino Stram & Associates LLC increased its holdings in Fastenal Company by 102.2% in the second quarter, owning 29,456 shares valued at approximately $1.24 million.
• Insider selling occurred with Jeffery Michael Watts and William Joseph Drazkowski selling shares, reducing their ownership by 80.4% and 36.32% respectively in recent transactions.
• Fastenal reported a quarterly EPS of $0.29, surpassing estimates, with a year-over-year revenue growth of 8.6%, highlighting solid financial performance amidst potential tariff risks.

Marino Stram & Associates LLC lifted its holdings in Fastenal Company (NASDAQ:FAST - Free Report) by 102.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,456 shares of the company's stock after buying an additional 14,887 shares during the quarter. Marino Stram & Associates LLC's holdings in Fastenal were worth $1,237,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Fastenal by 1.4% during the first quarter. Vanguard Group Inc. now owns 73,317,271 shares of the company's stock worth $5,685,754,000 after purchasing an additional 1,016,479 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake 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 buying an additional 1,850,871 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of Fastenal by 1.7% in the first quarter. Baird Financial Group Inc. now owns 8,418,765 shares of the company's stock valued at $652,875,000 after purchasing an additional 142,972 shares during the period. Principal Financial Group Inc. raised its stake in shares of Fastenal by 2.6% during the first quarter. Principal Financial Group Inc. now owns 6,591,850 shares of the company's stock valued at $511,198,000 after purchasing an additional 168,830 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Fastenal by 11.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,933,636 shares of the company's stock valued at $460,153,000 after purchasing an additional 613,254 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jeffery Michael Watts sold 48,724 shares of the company's stock in a transaction dated 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 $570,834. This represents a 80.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP William Joseph Drazkowski sold 6,842 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $48.67, for a total value of $333,000.14. Following the sale, the executive vice president directly owned 11,994 shares in the company, valued at $583,747.98. This represents a 36.32% decrease in their ownership of the stock. 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 in the last 90 days. 0.37% of the stock is owned by company insiders.

Fastenal Stock Performance

NASDAQ:FAST opened at $49.04 on Wednesday. The company has a market capitalization of $56.28 billion, a P/E ratio of 47.15, a P/E/G ratio of 4.44 and a beta of 0.97. The business has a fifty day simple moving average of $48.17 and a two-hundred day simple moving average of $43.39. Fastenal Company has a 1 year low of $34.69 and a 1 year 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.

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

Fastenal Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, July 29th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Tuesday, July 29th. Fastenal's dividend payout ratio (DPR) is 84.62%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FAST. Robert W. Baird upgraded shares of Fastenal from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $47.00 to $55.00 in a report on Thursday, August 7th. 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. Loop Capital restated a "hold" rating on shares of Fastenal in a research note on Tuesday, July 15th. Morgan Stanley set a $40.00 target price on Fastenal and gave the stock an "equal weight" rating in a report on Thursday, July 3rd. Finally, Wolfe Research reaffirmed a "positive" rating on shares of Fastenal in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Fastenal has an average rating of "Hold" and a consensus price target of $46.82.

Fastenal Company 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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