ORG Wealth Partners LLC Purchases 9,515 Shares of Fastenal Company $FAST

Key Points

• ORG Wealth Partners LLC increased its holdings in Fastenal Company by 818.1%, purchasing 9,515 shares and bringing total shares owned to 10,678, valued at approximately $458,000.
• Several other institutional investors also significantly boosted their positions in Fastenal, with Armstrong Advisory Group Inc. and AdvisorNet Financial Inc. each increasing their stake by nearly 100%.
• Fastenal reported a better-than-expected quarterly earnings with an EPS of $0.29, surpassing the consensus estimate of $0.28, and showing an 8.6% increase in revenue year-over-year.

ORG Wealth Partners LLC lifted its position in Fastenal Company (NASDAQ:FAST - Free Report) by 818.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,678 shares of the company's stock after buying an additional 9,515 shares during the period. ORG Wealth Partners LLC's holdings in Fastenal were worth $458,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FAST. Armstrong Advisory Group Inc. increased its position in shares of Fastenal by 100.0% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company's stock valued at $29,000 after buying an additional 348 shares in the last quarter. AdvisorNet Financial Inc increased its position in shares of Fastenal by 95.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 702 shares of the company's stock valued at $29,000 after buying an additional 342 shares in the last quarter. Garde Capital Inc. increased its position in shares of Fastenal by 4,900.0% in the 2nd quarter. Garde Capital Inc. now owns 750 shares of the company's stock valued at $32,000 after buying an additional 735 shares in the last quarter. SJS Investment Consulting Inc. increased its position in shares of Fastenal by 86.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 842 shares of the company's stock valued at $35,000 after buying an additional 390 shares in the last quarter. Finally, 1248 Management LLC bought a new stake in shares of Fastenal in the 1st quarter valued at $36,000. Institutional investors own 81.38% of the company's stock.

Insider Activity

In related news, CFO Sheryl Ann Lisowski sold 21,052 shares of the firm's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $45.21, for a total value of $951,760.92. Following the completion of the sale, the chief financial officer directly owned 10,192 shares in the company, valued at approximately $460,780.32. This trade represents a 67.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William Joseph Drazkowski sold 6,842 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $48.67, for a total transaction of $333,000.14. Following the completion of the sale, the executive vice president owned 11,994 shares of the company's stock, valued at $583,747.98. This trade represents a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,230 shares of company stock valued at $5,288,364. Company insiders own 0.37% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FAST shares. Baird R W raised shares of Fastenal from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Stifel Nicolaus set a $82.00 target price on shares of Fastenal in a research note on Thursday, July 3rd. Morgan Stanley set a $40.00 target price on shares of Fastenal and gave the stock an "equal weight" rating in a research note on Thursday, July 3rd. Northcoast Research started coverage on shares of Fastenal in a research note on Thursday, August 21st. They issued a "neutral" rating for the company. Finally, Robert W. Baird raised shares of Fastenal from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $47.00 to $55.00 in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Fastenal currently has an average rating of "Hold" and a consensus price target of $46.82.

Fastenal Stock Performance

Shares of NASDAQ FAST opened at $48.70 on Friday. The stock has a 50 day moving average price of $48.07 and a 200 day moving average price of $43.19. Fastenal Company has a 52 week low of $34.69 and a 52 week high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.12 and a current ratio of 4.22. The stock has a market capitalization of $55.89 billion, a PE ratio of 46.83, a price-to-earnings-growth ratio of 4.35 and a beta of 0.97.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings results on Monday, July 14th. The company reported $0.29 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $2.07 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The business's quarterly revenue was up 8.6% compared to the same quarter last year. Analysts predict that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Cuts Dividend

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

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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