Signaturefd LLC Acquires 2,171 Shares of Fastenal (NASDAQ:FAST)

Signaturefd LLC grew its holdings in Fastenal (NASDAQ:FAST) by 107.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,200 shares of the company’s stock after purchasing an additional 2,171 shares during the quarter. Signaturefd LLC’s holdings in Fastenal were worth $137,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Flagship Harbor Advisors LLC boosted its stake in shares of Fastenal by 176.8% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,362 shares of the company’s stock valued at $44,000 after purchasing an additional 870 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in shares of Fastenal by 90.0% in the 2nd quarter. DAVENPORT & Co LLC now owns 22,916 shares of the company’s stock valued at $747,000 after purchasing an additional 10,858 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Fastenal by 131.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,910 shares of the company’s stock valued at $193,000 after purchasing an additional 3,355 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Fastenal by 31.1% in the 1st quarter. SG Americas Securities LLC now owns 5,675 shares of the company’s stock valued at $365,000 after purchasing an additional 1,345 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in shares of Fastenal by 128.0% in the 2nd quarter. IFM Investors Pty Ltd now owns 43,818 shares of the company’s stock valued at $1,428,000 after purchasing an additional 24,602 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

Fastenal stock opened at $29.85 on Friday. The company’s 50 day simple moving average is $30.88 and its 200 day simple moving average is $50.24. Fastenal has a fifty-two week low of $24.00 and a fifty-two week high of $35.94. The firm has a market capitalization of $17.18 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 1.35 and a beta of 1.22. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.68 and a quick ratio of 2.13.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Thursday, July 11th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). Fastenal had a return on equity of 32.27% and a net margin of 14.74%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the business earned $0.37 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, analysts predict that Fastenal will post 1.38 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, July 25th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Wednesday, July 24th. Fastenal’s payout ratio is currently 66.67%.

In related news, Director Daniel L. Johnson purchased 2,500 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $30.49 per share, with a total value of $76,225.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Ancius purchased 1,104 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was bought at an average cost of $30.13 per share, for a total transaction of $33,263.52. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 4,604 shares of company stock worth $138,479. Insiders own 0.56% of the company’s stock.

Several research analysts recently weighed in on FAST shares. Wells Fargo & Co reduced their price objective on shares of Fastenal from $35.00 to $30.00 and set a “market perform” rating on the stock in a research note on Friday, July 12th. Raymond James reduced their price objective on shares of Fastenal from $39.00 to $37.00 and set a “strong-buy” rating on the stock in a research note on Friday, July 12th. Morgan Stanley reduced their price objective on shares of Fastenal from $31.50 to $29.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. ValuEngine lowered shares of Fastenal from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 23rd. Finally, William Blair lowered shares of Fastenal from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Fastenal presently has an average rating of “Hold” and a consensus price target of $31.36.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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