Jupiter Topco LLC Acquires Shares of 127,984 Fastenal Company $FAST

Jupiter Topco LLC bought a new stake in Fastenal Company (NASDAQ:FAST) in the 2nd quarter, Holdings Channel.com reports. The fund bought 127,984 shares of the company’s stock, valued at approximately $6,146,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in Fastenal in the second quarter valued at about $26,000. Evergreen Advisors LLC acquired a new stake in Fastenal in the first quarter worth about $26,000. Palladiem LLC bought a new stake in Fastenal during the 4th quarter worth about $25,000. Elyxium Wealth LLC bought a new stake in Fastenal during the 4th quarter worth about $25,000. Finally, MV Capital Management Inc. acquired a new position in Fastenal during the 4th quarter valued at about $29,000. Institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Fastenal in a research report on Thursday, June 4th. Weiss Ratings upgraded shares of Fastenal from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 26th. Barclays reduced their price objective on shares of Fastenal from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 16th. DA Davidson reiterated a “neutral” rating and set a $46.00 target price on shares of Fastenal in a research report on Wednesday, July 15th. Finally, Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research note on Wednesday, July 15th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $49.17.

Fastenal Stock Performance

Shares of FAST stock opened at $49.31 on Tuesday. The stock has a market cap of $56.58 billion, a PE ratio of 41.79, a price-to-earnings-growth ratio of 3.11 and a beta of 0.72. The stock has a 50-day moving average of $48.52 and a 200-day moving average of $46.52. 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 Company has a one year low of $38.97 and a one year high of $52.92.

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

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th were given 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 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, July 28th. Fastenal’s payout ratio is 88.14%.

Insiders Place Their Bets

In related news, 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 transaction of $147,000.00. Following the sale, the director 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rita J. Heise sold 34,964 shares of Fastenal stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total value of $1,749,948.20. Following the transaction, the director owned 20,000 shares in the company, valued at approximately $1,001,000. This represents a 63.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.28% of the company’s stock.

Fastenal 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.