Brighton Jones LLC Has $223,000 Stock Holdings in Fastenal (NASDAQ:FAST)

Brighton Jones LLC lifted its holdings in Fastenal (NASDAQ:FAST) by 20.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,543 shares of the company’s stock after buying an additional 612 shares during the quarter. Brighton Jones LLC’s holdings in Fastenal were worth $223,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. grew its stake in shares of Fastenal by 4.9% during the fourth quarter. Gilbert & Cook Inc. now owns 6,684 shares of the company’s stock valued at $433,000 after purchasing an additional 312 shares during the last quarter. D.A. Davidson & CO. boosted its position in Fastenal by 7.3% in the 4th quarter. D.A. Davidson & CO. now owns 19,740 shares of the company’s stock valued at $1,279,000 after buying an additional 1,341 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of Fastenal by 5.4% in the 4th quarter. Corient Private Wealth LLC now owns 104,348 shares of the company’s stock valued at $6,759,000 after buying an additional 5,324 shares during the period. Assetmark Inc. raised its position in shares of Fastenal by 35.9% during the fourth quarter. Assetmark Inc. now owns 2,651 shares of the company’s stock worth $172,000 after acquiring an additional 700 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Fastenal by 2.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 78,825 shares of the company’s stock valued at $5,105,000 after acquiring an additional 1,677 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Activity at Fastenal

In other news, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at $19,929,734.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Fastenal news, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,489,266.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Morgan Stanley began coverage on Fastenal in a research report on Friday, September 6th. They issued an “equal weight” rating and a $72.00 price objective for the company. Stephens reiterated an “equal weight” rating and set a $56.00 price target on shares of Fastenal in a research report on Monday, July 15th. Jefferies Financial Group cut their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 price objective (down from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.43.

Fastenal Stock Down 0.9 %

Fastenal stock opened at $70.75 on Monday. Fastenal has a fifty-two week low of $53.83 and a fifty-two week high of $79.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. The firm has a market capitalization of $40.51 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 3.78 and a beta of 1.01. The company’s 50 day simple moving average is $68.05 and its 200 day simple moving average is $68.41.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. As a group, sell-side analysts anticipate that Fastenal will post 2.04 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Friday, July 26th. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

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.