Clear Rock Advisors LLC Grows Stock Holdings in Fastenal (NASDAQ:FAST)

Clear Rock Advisors LLC lifted its position in Fastenal (NASDAQ:FAST) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,149 shares of the company’s stock after buying an additional 650 shares during the period. Clear Rock Advisors LLC’s holdings in Fastenal were worth $2,711,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MCF Advisors LLC lifted its holdings in shares of Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after purchasing an additional 391 shares during the last quarter. Central Valley Advisors LLC acquired a new position in shares of Fastenal during the second quarter valued at about $28,000. LRI Investments LLC purchased a new position in shares of Fastenal in the 1st quarter valued at approximately $39,000. Triad Wealth Partners LLC acquired a new stake in Fastenal in the 2nd quarter worth approximately $32,000. Finally, Crewe Advisors LLC grew its position in Fastenal by 528.4% during the 2nd quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock worth $32,000 after purchasing an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Stock Down 0.5 %

Shares of FAST opened at $71.09 on Wednesday. Fastenal has a 52-week low of $53.94 and a 52-week high of $79.04. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $68.45 and a two-hundred day simple moving average of $68.22. The company has a market capitalization of $40.70 billion, a PE ratio of 35.37, a price-to-earnings-growth ratio of 3.92 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. Fastenal’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.52 earnings per share. As a group, equities analysts forecast 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. Investors of record on Friday, July 26th were given a $0.39 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.56 annualized dividend and a yield of 2.19%. Fastenal’s payout ratio is 77.61%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

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

Fastenal 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.