Huntleigh Advisors Inc. Has $2.90 Million Holdings in Fastenal Company $FAST

Key Points

• Huntleigh Advisors Inc. increased its stake in Fastenal Company by 153.4% during Q2, owning 68,953 shares valued at approximately $2.90 million.
• Fastenal reported a Q3 EPS of $0.29, falling short of estimates by $0.01, but its revenue rose 11.7% year-over-year, reaching $2.13 billion.
• Fastenal declared a quarterly dividend of $0.22 per share, set to be paid on November 25, impacting the stock's dividend yield at approximately 2.1%.

Huntleigh Advisors Inc. increased its stake in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 153.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 68,953 shares of the company's stock after acquiring an additional 41,743 shares during the period. Huntleigh Advisors Inc.'s holdings in Fastenal were worth $2,896,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Riverview Trust Co increased its holdings in shares of Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company's stock valued at $25,000 after acquiring an additional 292 shares during the last quarter. Hilltop National Bank acquired a new position in shares of Fastenal during the 2nd quarter valued at about $27,000. Armstrong Advisory Group Inc. increased its holdings in shares of Fastenal by 100.0% during the 2nd 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 last quarter. AdvisorNet Financial Inc increased its holdings in shares of Fastenal by 95.0% during the 2nd 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 last quarter. Finally, Clean Yield Group increased its holdings in shares of Fastenal by 100.0% during the 2nd quarter. Clean Yield Group now owns 696 shares of the company's stock valued at $29,000 after acquiring an additional 348 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Fastenal Stock Performance

FAST opened at $42.46 on Friday. The firm has a market capitalization of $48.73 billion, a P/E ratio of 39.68, a price-to-earnings-growth ratio of 3.83 and a beta of 0.94. The stock's 50 day moving average price is $47.83 and its two-hundred day moving average price is $44.00. 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 quarterly earnings data on Monday, October 13th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the business posted $0.26 EPS. Fastenal's revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts forecast that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, October 28th. Fastenal's dividend payout ratio (DPR) is presently 82.24%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FAST. Stephens increased their price objective on Fastenal from $40.00 to $45.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Northcoast Research assumed coverage on Fastenal in a report on Thursday, August 21st. They issued a "neutral" rating on the stock. Robert W. Baird lowered their target price on Fastenal from $53.00 to $49.00 and set an "outperform" rating on the stock in a report on Tuesday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Fastenal in a report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $82.00 target price on Fastenal in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $46.50.

Insider Transactions at Fastenal

In other news, Director Hsenghung Sam Hsu acquired 1,000 shares of the firm's stock in a transaction dated Thursday, October 16th. The shares were bought at an average price of $42.45 per share, with a total value of $42,450.00. Following the acquisition, the director owned 9,000 shares of the company's stock, valued at $382,050. This trade represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $1,662,414.36. The disclosure for this sale can be found here. Insiders sold a total of 90,178 shares of company stock worth $4,336,603 over the last quarter. 0.37% of the stock is owned by company 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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