Fastenal Company $FAST Stock Holdings Increased by Kathmere Capital Management LLC

Key Points

• Kathmere Capital Management LLC increased its holdings in Fastenal Company by 101.7%, owning 22,180 shares worth approximately $932,000 as of the latest quarter.
• Fastenal recently beat earnings estimates with a reported $0.29 EPS, surpassing expectations of $0.28, and showing an 8.6% revenue increase compared to the same quarter last year.
• A significant amount of institutional investment exists in Fastenal, with 81.38% of the shares owned by institutional investors, indicating strong confidence in the company.

Kathmere Capital Management LLC boosted its position in Fastenal Company (NASDAQ:FAST - Free Report) by 101.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,180 shares of the company's stock after buying an additional 11,186 shares during the quarter. Kathmere Capital Management LLC's holdings in Fastenal were worth $932,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FAST. Armstrong Advisory Group Inc. boosted its stake in Fastenal by 100.0% in the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company's stock valued at $29,000 after acquiring an additional 348 shares during the period. AdvisorNet Financial Inc boosted its stake in Fastenal by 95.0% in the second quarter. AdvisorNet Financial Inc now owns 702 shares of the company's stock valued at $29,000 after acquiring an additional 342 shares during the period. Garde Capital Inc. boosted its stake in Fastenal by 4,900.0% in the second quarter. Garde Capital Inc. now owns 750 shares of the company's stock valued at $32,000 after acquiring an additional 735 shares during the period. SJS Investment Consulting Inc. boosted its stake in Fastenal by 86.3% in the second quarter. SJS Investment Consulting Inc. now owns 842 shares of the company's stock valued at $35,000 after acquiring an additional 390 shares during the period. Finally, 1248 Management LLC acquired a new position in Fastenal in the first quarter valued at approximately $36,000. 81.38% of the stock is owned by institutional investors.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $48.70 on Friday. Fastenal Company has a 12 month low of $34.69 and a 12 month high of $50.63. The stock has a market cap of $55.89 billion, a price-to-earnings ratio of 46.83, a PEG ratio of 4.43 and a beta of 0.97. The stock's 50 day moving average price is $48.07 and its 200 day moving average price is $43.23. 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 announced 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. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The firm had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter in the previous year, the company earned $0.25 earnings per share. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on FAST. Baird R W upgraded Fastenal from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their target price on Fastenal from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, September 4th. Stifel Nicolaus set a $82.00 target price on Fastenal in a research note on Thursday, July 3rd. Robert W. Baird raised Fastenal from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $47.00 to $55.00 in a report on Thursday, August 7th. Finally, Loop Capital reaffirmed a "hold" rating on shares of Fastenal in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $46.82.

Insider Buying and Selling at Fastenal

In other Fastenal news, EVP William Joseph Drazkowski sold 6,842 shares of Fastenal stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $48.67, for a total value of $333,000.14. Following the transaction, the executive vice president owned 11,994 shares in the company, valued at approximately $583,747.98. The trade was a 36.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John Lewis Soderberg sold 34,612 shares of Fastenal stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $48.03, for a total transaction of $1,662,414.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,230 shares of company stock worth $5,288,364. 0.37% of the stock is owned by corporate insiders.

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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