TFG Advisers LLC Increases Stock Holdings in Fastenal Company $FAST

Key Points

• TFG Advisers LLC increased its holdings in Fastenal Company by 99.7% in Q2, owning 14,874 shares valued at $625,000 at the end of the reporting period.
• Fastenal's recent quarterly earnings report revealed an EPS of $0.29, surpassing analysts' expectations, alongside a revenue of $2.08 billion.
• Fastenal recently declared a quarterly dividend of $0.22, resulting in a yield of 1.8%; the company's dividend payout ratio stands at 84.62%.

TFG Advisers LLC raised its holdings in Fastenal Company (NASDAQ:FAST - Free Report) by 99.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,874 shares of the company's stock after buying an additional 7,426 shares during the quarter. TFG Advisers LLC's holdings in Fastenal were worth $625,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Oregon Public Employees Retirement Fund grew its stake in Fastenal by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company's stock valued at $3,817,000 after acquiring an additional 130 shares in the last quarter. Welch & Forbes LLC lifted its position in Fastenal by 0.4% during the first quarter. Welch & Forbes LLC now owns 32,992 shares of the company's stock worth $2,559,000 after buying an additional 135 shares in the last quarter. Principal Securities Inc. boosted its stake in Fastenal by 0.9% during the first quarter. Principal Securities Inc. now owns 15,886 shares of the company's stock worth $1,142,000 after buying an additional 140 shares during the last quarter. Salvus Wealth Management LLC grew its holdings in Fastenal by 1.6% in the 1st quarter. Salvus Wealth Management LLC now owns 9,000 shares of the company's stock valued at $698,000 after buying an additional 141 shares in the last quarter. Finally, Essex Financial Services Inc. increased its stake in shares of Fastenal by 1.7% in the 1st quarter. Essex Financial Services Inc. now owns 8,870 shares of the company's stock worth $688,000 after acquiring an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Fastenal Stock Down 2.7%

Shares of NASDAQ FAST opened at $47.72 on Thursday. The stock has a fifty day moving average price of $48.18 and a 200 day moving average price of $43.42. The company has a market cap of $54.77 billion, a P/E ratio of 45.89, a P/E/G ratio of 4.46 and a beta of 0.94. Fastenal Company has a 12-month low of $34.69 and a 12-month high of $50.63. The company has a current ratio of 4.22, a quick ratio of 2.12 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings data on Monday, July 14th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. The firm 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 EPS. Research analysts anticipate that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Northcoast Research started coverage on shares of Fastenal in a research report on Thursday, August 21st. They set a "neutral" rating on the stock. Baird R W raised shares of Fastenal from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Robert W. Baird upgraded shares of Fastenal from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $47.00 to $55.00 in a research note on Thursday, August 7th. Morgan Stanley set a $40.00 target price on Fastenal and gave the company an "equal weight" rating in a research report on Thursday, July 3rd. Finally, Wolfe Research restated a "positive" rating on shares of Fastenal in a research report on Monday, July 14th. 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 assigned a Sell rating to the stock. According to MarketBeat.com, Fastenal presently has a consensus rating of "Hold" and an average price target of $46.82.

Insider Buying and Selling

In other Fastenal news, EVP William Joseph Drazkowski sold 6,842 shares of the firm's stock in a transaction on 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 approximately $583,747.98. This trade represents 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 link. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of the company's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $45.21, for a total transaction of $951,760.92. Following the transaction, the chief financial officer owned 10,192 shares of the company's stock, valued at $460,780.32. This represents a 67.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,230 shares of company stock worth $5,288,364. Company insiders own 0.37% of the company's stock.

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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