UMB Bank n.a. Has $10.04 Million Stock Position in Fastenal Company $FAST

Key Points

• UMB Bank n.a. increased its stake in Fastenal Company by 99.7% during the second quarter, acquiring an additional 119,285 shares, bringing its total holdings to 238,960 shares valued at approximately $10 million.
• Insider selling was notable, with CFO Sheryl Ann Lisowski and EVP John Lewis Soderberg selling significant portions of their stocks, with total insider sales amounting to over $5.28 million in the last 90 days.
• Fastenal recently reported its quarterly earnings, exceeding expectations with $0.29 earnings per share, and had a revenue of $2.08 billion, up 8.6% year-over-year.

UMB Bank n.a. boosted its stake in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 99.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 238,960 shares of the company's stock after buying an additional 119,285 shares during the quarter. UMB Bank n.a.'s holdings in Fastenal were worth $10,036,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. lifted its holdings in shares of Fastenal by 100.0% in the second quarter. Pinnacle Bancorp Inc. now owns 2,002 shares of the company's stock valued at $84,000 after purchasing an additional 1,001 shares in the last quarter. Bridge Creek Capital Management LLC lifted its holdings in shares of Fastenal by 98.4% in the second quarter. Bridge Creek Capital Management LLC now owns 156,524 shares of the company's stock valued at $6,574,000 after purchasing an additional 77,637 shares in the last quarter. Lantz Financial LLC lifted its holdings in shares of Fastenal by 98.6% in the second quarter. Lantz Financial LLC now owns 44,594 shares of the company's stock valued at $1,873,000 after purchasing an additional 22,138 shares in the last quarter. LongView Wealth Management lifted its holdings in shares of Fastenal by 101.1% in the second quarter. LongView Wealth Management now owns 12,148 shares of the company's stock valued at $510,000 after purchasing an additional 6,107 shares in the last quarter. Finally, SeaCrest Wealth Management LLC boosted its position in Fastenal by 101.9% during the second quarter. SeaCrest Wealth Management LLC now owns 20,641 shares of the company's stock worth $867,000 after acquiring an additional 10,416 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Performance

Shares of Fastenal stock traded up $0.36 during trading hours on Friday, reaching $47.58. The company's stock had a trading volume of 13,747,553 shares, compared to its average volume of 5,858,801. The company's 50 day simple moving average is $47.84 and its 200 day simple moving average is $42.95. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.12 and a current ratio of 4.22. Fastenal Company has a one year low of $34.69 and a one year high of $50.63. The stock has a market cap of $54.60 billion, a P/E ratio of 45.75, a price-to-earnings-growth ratio of 4.33 and a beta of 0.97.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings data on Monday, July 14th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the firm posted $0.25 EPS. Fastenal's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts expect that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Cuts Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on FAST shares. Stifel Nicolaus set a $82.00 target price on shares of Fastenal in a research report on Thursday, July 3rd. Loop Capital restated a "hold" rating on shares of Fastenal in a research report on Tuesday, July 15th. JPMorgan Chase & Co. raised their target price on shares of Fastenal from $41.00 to $46.00 and gave the stock a "neutral" rating in a research report on Thursday, September 4th. Stephens raised their target price on shares of Fastenal from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Robert W. Baird upgraded shares of Fastenal from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $47.00 to $55.00 in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $46.82.

Insider Activity

In other Fastenal news, CFO Sheryl Ann Lisowski sold 21,052 shares of the company'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 value of $951,760.92. Following the transaction, the chief financial officer owned 10,192 shares in the company, valued at approximately $460,780.32. This represents a 67.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffery Michael Watts sold 48,724 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the completion of the transaction, the insider owned 11,880 shares in the company, valued at approximately $570,834. This represents a 80.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,230 shares of company stock worth $5,288,364 in the last quarter. 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.