Fastenal Company $FAST Shares Purchased by Bontempo Ohly Capital Mgmt LLC

Bontempo Ohly Capital Mgmt LLC grew its holdings in Fastenal Company (NASDAQ:FAST) by 100.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,636 shares of the company’s stock after purchasing an additional 60,888 shares during the period. Fastenal comprises 2.3% of Bontempo Ohly Capital Mgmt LLC’s portfolio, making the stock its 5th largest holding. Bontempo Ohly Capital Mgmt LLC’s holdings in Fastenal were worth $5,109,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Riverview Trust Co increased its stake in Fastenal by 100.0% in 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. Hilltop National Bank acquired a new stake in shares of Fastenal during the 2nd quarter valued at $27,000. 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 purchased a new position in shares of Fastenal during the 2nd quarter valued at $27,000. Finally, Armstrong Advisory Group Inc. increased its stake in shares of Fastenal by 100.0% in the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after acquiring an additional 348 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FAST. Robert W. Baird reduced their price objective on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research report on Tuesday, October 14th. Sanford C. Bernstein started coverage on Fastenal in a research note on Tuesday, November 11th. They set an “underperform” rating and a $38.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, September 4th. Wolfe Research raised Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price target for the company in a research note on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Fastenal has an average rating of “Hold” and an average price target of $48.00.

Fastenal Stock Up 0.6%

Shares of FAST stock opened at $42.01 on Friday. The stock’s 50 day simple moving average is $41.80 and its 200 day simple moving average is $44.38. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. The company has a market capitalization of $48.23 billion, a price-to-earnings ratio of 39.26, a PEG ratio of 3.34 and a beta of 0.89.

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

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Investors 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 yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is presently 82.24%.

Insider Buying and Selling at Fastenal

In other news, Director Sarah N. Nielsen bought 1,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was purchased at an average price of $39.60 per share, with a total value of $39,600.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $198,000. The trade was a 25.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 10,000 shares of the company’s stock, valued at $495,800. The trade was a 11.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 3,000 shares of company stock worth $131,630 in the last quarter. Insiders own 0.37% of the company’s stock.

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.