TLW Wealth Management LLC Invests $699,000 in Fastenal Company $FAST

Key Points

• TLW Wealth Management LLC invested approximately $699,000 in Fastenal Company, acquiring 16,635 shares, making it the firm's 16th largest position.
• Fastenal recently reported a missed earnings estimate with an EPS of $0.29, compared to the consensus estimate of $0.30, while revenues were in line at $2.13 billion.
• The company announced a $0.22 quarterly dividend for stockholders of record on October 28th, representing a 2.0% yield on an annualized basis.

TLW Wealth Management LLC bought a new position in Fastenal Company (NASDAQ:FAST - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,635 shares of the company's stock, valued at approximately $699,000. Fastenal makes up about 0.4% of TLW Wealth Management LLC's holdings, making the stock its 16th largest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FAST. 1248 Management LLC purchased a new position in shares of Fastenal during the first quarter valued at approximately $36,000. Horizon Financial Services LLC raised its holdings in shares of Fastenal by 5,330.0% during the first quarter. Horizon Financial Services LLC now owns 543 shares of the company's stock valued at $42,000 after purchasing an additional 533 shares during the last quarter. Riverview Trust Co raised its holdings in shares of Fastenal by 100.0% during the second quarter. Riverview Trust Co now owns 584 shares of the company's stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Fastenal during the first quarter valued at approximately $49,000. Finally, Private Wealth Management Group LLC raised its holdings in shares of Fastenal by 111.9% during the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company's stock valued at $27,000 after purchasing an additional 339 shares during the last quarter. Institutional investors own 81.38% of the company's stock.

Insider Activity

In other news, insider Jeffery Michael Watts sold 48,724 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $48.05, for a total value of $2,341,188.20. Following the completion of the sale, the insider owned 11,880 shares in the company, valued at approximately $570,834. This trade represents a 80.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 90,178 shares of company stock worth $4,336,603 over the last 90 days. Insiders own 0.37% of the company's stock.

Fastenal Price Performance

Fastenal stock opened at $42.99 on Tuesday. The firm has a 50-day moving average price of $47.74 and a 200-day moving average price of $44.11. The firm has a market capitalization of $49.35 billion, a PE ratio of 40.18, a price-to-earnings-growth ratio of 3.87 and a beta of 0.94. The company has a current ratio of 4.26, a quick ratio of 2.19 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 released its earnings results on Monday, October 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.Fastenal's revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. As a group, equities research analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, October 28th. Fastenal's dividend payout ratio (DPR) is 82.24%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wolfe Research reissued a "positive" rating on shares of Fastenal in a report on Monday, July 14th. Northcoast Research initiated coverage on shares of Fastenal in a report on Thursday, August 21st. They set a "neutral" rating for the company. JPMorgan Chase & Co. upped their target price on shares of Fastenal from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Thursday, September 4th. Robert W. Baird reduced their target price on shares of Fastenal from $53.00 to $49.00 and set an "outperform" rating for the company in a report on Tuesday, October 14th. Finally, Baird R W raised shares of Fastenal from a "hold" rating to a "strong-buy" rating 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, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $46.50.

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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