Czech National Bank Acquires 14,073 Shares of Fastenal Company $FAST

Czech National Bank raised its holdings in Fastenal Company (NASDAQ:FAST) by 4.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 326,775 shares of the company’s stock after acquiring an additional 14,073 shares during the quarter. Czech National Bank’s holdings in Fastenal were worth $15,695,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FAST. Integrated Wealth Concepts LLC boosted its holdings in shares of Fastenal by 2.4% during the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after acquiring an additional 147 shares during the period. Tandem Investment Advisors Inc. increased its stake in shares of Fastenal by 1.8% in the first quarter. Tandem Investment Advisors Inc. now owns 12,356 shares of the company’s stock valued at $573,000 after purchasing an additional 224 shares during the period. Sittner & Nelson LLC raised its holdings in shares of Fastenal by 0.3% during the fourth quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock valued at $2,749,000 after buying an additional 226 shares during the last quarter. Founders Capital Management LLC boosted its position in shares of Fastenal by 2.2% during the fourth quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock worth $418,000 after buying an additional 228 shares during the period. Finally, Sound Income Strategies LLC grew its holdings in Fastenal by 12.9% in the 1st quarter. Sound Income Strategies LLC now owns 2,025 shares of the company’s stock worth $94,000 after buying an additional 232 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Rita J. Heise sold 34,964 shares of Fastenal stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total value of $1,749,948.20. Following the transaction, the director directly owned 20,000 shares of the company’s stock, valued at $1,001,000. This trade represents a 63.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael J. Ancius sold 3,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total value of $147,000.00. Following the completion of the sale, the director directly owned 58,690 shares of the company’s stock, valued at approximately $2,875,810. This trade represents a 4.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Robert W. Baird set a $54.00 price target on Fastenal in a research note on Friday. Wolfe Research restated an “underperform” rating and set a $47.00 price target on shares of Fastenal in a research report on Thursday, July 9th. Bank of America upped their price target on shares of Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Jefferies Financial Group restated a “buy” rating on shares of Fastenal in a research report on Thursday, June 4th. Finally, Weiss Ratings cut Fastenal from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and an average target price of $49.17.

Fastenal Stock Up 2.0%

FAST stock opened at $51.84 on Friday. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $51.90. The firm has a market cap of $59.49 billion, a PE ratio of 43.93, a P/E/G ratio of 3.17 and a beta of 0.72. The firm has a 50 day simple moving average of $46.87 and a 200 day simple moving average of $45.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.33. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the previous year, the business posted $0.29 earnings per share. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities research analysts forecast that Fastenal Company will post 1.26 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be issued a dividend of $0.26 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, July 28th. Fastenal’s dividend payout ratio (DPR) is currently 88.14%.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.