Beck Mack & Oliver LLC Has $1.18 Million Holdings in Fastenal Company $FAST

Beck Mack & Oliver LLC raised its holdings in shares of Fastenal Company (NASDAQ:FAST) by 100.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,000 shares of the company’s stock after acquiring an additional 14,000 shares during the quarter. Beck Mack & Oliver LLC’s holdings in Fastenal were worth $1,176,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. 1248 Management LLC purchased a new position in Fastenal during the first quarter valued at approximately $36,000. Riverview Trust Co boosted its stake in shares of Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after buying an additional 292 shares during the period. Private Wealth Management Group LLC grew its holdings in shares of Fastenal by 111.9% during the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after acquiring an additional 339 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Fastenal in the second quarter worth $27,000. Finally, Hilltop National Bank purchased a new stake in shares of Fastenal during the second quarter worth $27,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Trading Up 0.6%

Shares of FAST stock opened at $42.01 on Friday. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63. The company has a market cap of $48.23 billion, a PE ratio of 39.26, a price-to-earnings-growth ratio of 3.34 and a beta of 0.89. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $41.80 and its two-hundred day moving average is $44.38.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.Fastenal’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. Equities analysts predict that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th were paid a $0.22 dividend. The ex-dividend date was Tuesday, October 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.1%. Fastenal’s payout ratio is presently 82.24%.

Insider Activity

In other Fastenal news, Director Sarah N. Nielsen acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average price of $39.60 per share, with a total value of $39,600.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $198,000. This trade represents a 25.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hsenghung Sam Hsu bought 1,000 shares of the stock in a transaction on Thursday, November 13th. The stock was acquired at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $495,800. The trade was a 11.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 3,000 shares of company stock valued at $131,630 in the last three months. 0.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays lowered their target price on Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 13th. Northcoast Research began coverage on Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating for the company. JPMorgan Chase & Co. lifted their target price on shares of Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, September 4th. Sanford C. Bernstein assumed coverage on shares of Fastenal in a research report on Tuesday, November 11th. They issued an “underperform” rating and a $38.00 target price for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $48.00.

About Fastenal

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.