IRON Financial LLC Acquires 6,331 Shares of Fastenal Company $FAST

Key Points

• IRON Financial LLC increased its holdings in Fastenal Company by 99.5% in Q2, acquiring an additional 6,331 shares to bring its total to 12,694 shares, valued at $533,000.
• Fastenal's CFO Sheryl Ann Lisowski and EVP William Joseph Drazkowski recently sold significant portions of their shares, with insider trading exceeding $5.2 million over the past 90 days.
• The company also announced a quarterly dividend of $0.22 per share, with a payout ratio of 84.62%, reflecting a 1.9% yield for shareholders.

IRON Financial LLC raised its holdings in Fastenal Company (NASDAQ:FAST - Free Report) by 99.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,694 shares of the company's stock after purchasing an additional 6,331 shares during the period. IRON Financial LLC's holdings in Fastenal were worth $533,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund boosted its holdings in Fastenal by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company's stock valued at $3,817,000 after purchasing an additional 130 shares during the period. Welch & Forbes LLC boosted its holdings in Fastenal by 0.4% in the 1st quarter. Welch & Forbes LLC now owns 32,992 shares of the company's stock valued at $2,559,000 after purchasing an additional 135 shares during the period. Principal Securities Inc. boosted its holdings in Fastenal by 0.9% in the 1st quarter. Principal Securities Inc. now owns 15,886 shares of the company's stock valued at $1,142,000 after purchasing an additional 140 shares during the period. Essex Financial Services Inc. boosted its holdings in Fastenal by 1.7% in the 1st quarter. Essex Financial Services Inc. now owns 8,870 shares of the company's stock valued at $688,000 after purchasing an additional 147 shares during the period. Finally, Integrated Wealth Concepts LLC raised its position in shares of Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company's stock valued at $487,000 after buying an additional 147 shares in the last quarter. Institutional investors own 81.38% of the company's stock.

Insider Buying and Selling at Fastenal

In other Fastenal news, CFO Sheryl Ann Lisowski sold 21,052 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $45.21, for a total transaction of $951,760.92. Following the sale, the chief financial officer directly owned 10,192 shares of the company's stock, valued at $460,780.32. The trade was a 67.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William Joseph Drazkowski sold 6,842 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was 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 in the company, valued at $583,747.98. The trade was a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,230 shares of company stock valued at $5,288,364. 0.37% of the stock is owned by insiders.

Fastenal Trading Down 2.0%

Shares of Fastenal stock opened at $45.78 on Friday. The firm has a market capitalization of $52.54 billion, a PE ratio of 44.02, a price-to-earnings-growth ratio of 4.23 and a beta of 0.94. The company has a current ratio of 4.22, a quick ratio of 2.12 and a debt-to-equity ratio of 0.03. The firm's 50 day moving average is $48.26 and its 200 day moving average is $43.87. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings results on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $2.08 billion for 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 firm's revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 EPS. Equities research analysts forecast that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.9%. Fastenal's payout ratio is 84.62%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FAST shares. JPMorgan Chase & Co. boosted their target price on shares of Fastenal from $41.00 to $46.00 and gave the company a "neutral" rating in a research report on Thursday, September 4th. Loop Capital restated a "hold" rating on shares of Fastenal in a research report on Tuesday, July 15th. Stifel Nicolaus set a $82.00 target price on shares of Fastenal in a research report on Thursday, July 3rd. Baird R W upgraded shares of Fastenal from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Finally, Morgan Stanley set a $40.00 target price on shares of Fastenal and gave the company an "equal weight" rating in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $47.41.

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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