YHB Investment Advisors Inc. Grows Stock Holdings in Fastenal Company $FAST

Key Points

• YHB Investment Advisors Inc. significantly increased its stake in Fastenal, acquiring an additional 31,745 shares, bringing their total holdings to 59,977 shares valued at approximately $2.52 million.
• Fastenal reported a Q2 EPS of $0.29, slightly above analysts' expectations, and revenue of $2.08 billion, which was an 8.6% increase compared to the same quarter last year.
• Despite a recent dividend cut, Fastenal maintains a strong market presence with 81.38% of its stock owned by institutional investors.

YHB Investment Advisors Inc. lifted its position in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 112.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,977 shares of the company's stock after purchasing an additional 31,745 shares during the period. YHB Investment Advisors Inc.'s holdings in Fastenal were worth $2,519,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Garde Capital Inc. grew its position in Fastenal by 4,900.0% during the second quarter. Garde Capital Inc. now owns 750 shares of the company's stock worth $32,000 after buying an additional 735 shares in the last quarter. 1248 Management LLC bought a new position in shares of Fastenal in the 1st quarter valued at $36,000. Horizon Financial Services LLC lifted its stake in shares of Fastenal by 5,330.0% in the 1st quarter. Horizon Financial Services LLC now owns 543 shares of the company's stock valued at $42,000 after acquiring an additional 533 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Fastenal during the 1st quarter worth $49,000. Finally, TruNorth Capital Management LLC bought a new position in Fastenal during the 1st quarter worth $57,000. Institutional investors own 81.38% of the company's stock.

Insider Activity at Fastenal

In other news, CFO Sheryl Ann Lisowski sold 21,052 shares of the business'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 sale, the chief financial officer directly owned 10,192 shares in the company, valued at $460,780.32. The trade was a 67.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffery Michael Watts sold 48,724 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $48.05, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,230 shares of company stock valued at $5,288,364. 0.37% of the stock is currently owned by insiders.

Fastenal Stock Performance

Shares of Fastenal stock traded up $0.36 on Friday, hitting $47.58. 13,747,553 shares of the company's stock were exchanged, compared to its average volume of 5,443,559. The company has a 50-day simple moving average of $47.84 and a 200-day simple moving average of $42.93. The stock has a market capitalization of $54.60 billion, a PE ratio of 45.75, a PEG ratio of 4.33 and a beta of 0.97. Fastenal Company has a 1 year low of $34.69 and a 1 year 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.

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

Fastenal Cuts Dividend

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

Analyst Upgrades and Downgrades

FAST has been the subject of several research analyst reports. Loop Capital reissued a "hold" rating on shares of Fastenal in a research report on Tuesday, July 15th. Stephens lifted their price target on Fastenal from $40.00 to $45.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Stifel Nicolaus set a $82.00 target price on Fastenal in a research note on Thursday, July 3rd. JPMorgan Chase & Co. lifted their price target on shares of Fastenal from $41.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday, September 4th. Finally, Baird R W raised shares of Fastenal from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. One equities 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's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $46.82.

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.