Sanctuary Advisors LLC Makes New $6.41 Million Investment in Fastenal (NASDAQ:FAST)

Sanctuary Advisors LLC purchased a new stake in shares of Fastenal (NASDAQ:FAST) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 94,014 shares of the company’s stock, valued at approximately $6,409,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FAST. J. W. Coons Advisors LLC increased its holdings in shares of Fastenal by 0.9% in the 4th quarter. J. W. Coons Advisors LLC now owns 64,197 shares of the company’s stock worth $4,158,000 after purchasing an additional 582 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in Fastenal by 5.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 41,769 shares of the company’s stock worth $2,705,000 after buying an additional 2,050 shares during the last quarter. Cetera Advisor Networks LLC lifted its stake in Fastenal by 4.8% during the 4th quarter. Cetera Advisor Networks LLC now owns 87,495 shares of the company’s stock valued at $5,667,000 after acquiring an additional 4,028 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in Fastenal by 1,349.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 65,290 shares of the company’s stock valued at $4,229,000 after acquiring an additional 60,784 shares during the period. Finally, American International Group Inc. boosted its holdings in shares of Fastenal by 0.4% during the 4th quarter. American International Group Inc. now owns 196,683 shares of the company’s stock valued at $12,739,000 after acquiring an additional 743 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other news, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $19,929,734.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel L. Florness sold 45,744 shares of the company’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 owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Fastenal Trading Down 0.7 %

Shares of FAST stock opened at $70.18 on Friday. Fastenal has a 1 year low of $54.69 and a 1 year high of $79.04. The firm has a fifty day moving average price of $68.57 and a 200-day moving average price of $68.22. The company has a market cap of $40.18 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 3.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29.

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

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Friday, July 26th. Fastenal’s payout ratio is 77.61%.

Analyst Upgrades and Downgrades

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

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.