Shares of Fastenal (NASDAQ:FAST) were boosted by Marshfield Associates

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Marshfield Associates boosted its holdings in Fastenal (NASDAQ:FAST – Free Report) by 0.6% during the second quarter, according to the company in its most recent SEC disclosure. The fund owned 2,000,973 shares of the company’s stock after buying an additional 11,118 shares during the quarter. Fastenal makes up approximately 2.8% of Marshfield Associates’ investment portfolio, making the stock its 16th largest position. Marshfield Associates owned about 0.35% of Fastenal worth $125,741,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FAST. MCF Advisors LLC grew its position in shares of Fastenal by 2,172.2% in the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after purchasing an additional 391 shares during the period. Central Valley Advisors LLC acquired a new position in Fastenal in the second quarter valued at about $28,000. LRI Investments LLC purchased a new stake in shares of Fastenal in the first quarter worth $39,000. Triad Wealth Partners LLC purchased a new stake in Fastenal in the second quarter valued at approximately $32,000. Finally, Crewe Advisors LLC boosted its position in Fastenal by 528.4% during the 2nd quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock worth $32,000 after acquiring an additional 428 shares in the period time. Institutional investors and hedge funds own 81.38% of the company’s shares.

The Wall Street analyst weighs in

A number of brokerages have recently commented on FAST. Morgan Stanley initiated coverage on shares of Fastenal in a research report on Friday, September 6th. They set an “equal weight” rating and a $72.00 price objective on the stock. Jefferies Financial Group reduced their price objective on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Stephens reaffirmed an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a research report on Monday, July 15th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $80.00 target price (down from $85.00) on shares of Fastenal in a report on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $67.43, according to MarketBeat.

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Read our latest report on FAST

Internal activity at Fastenal

In other Fastenal news, CEO Daniel L. Florness sold 45,744 shares of Fastenal 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 transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,489,266.52. The sale was disclosed in a filing with the SEC, which is accessible via this link. In other news, CEO Daniel L. Florness sold 45,744 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,489,266.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. Also, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,929,734.24. The disclosure for this sale can be found here. 0.41% of shares are held by corporate insiders.

Fastenal stock performance

FAST opened at $71.65 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29, and a current ratio of 4.39. The company has a market cap of $41.02 billion, a PE ratio of 35.65, a price-to-earnings-growth ratio of 3.92 and a beta of 1.01. The stock has a 50-day moving average of $68.20 and a 200-day moving average of $68.37. Fastenal has a 52-week low of $53.94 and a 52-week high of $79.04.

Fastenal (NASDAQ:FAST – Get Your Free Report ) last released its quarterly earnings results on Friday, July 12th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. In the same quarter last year, the company posted earnings of $0.52 per share. As a group, equities research analysts forecast that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal announces dividends

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were given a dividend of $0.39 per share. The ex-dividend date was Friday, July 26. This represents an annualized dividend of $1.56 and a dividend yield of 2.18%. Fastenal’s dividend payout ratio is currently 77.61%.

Fixing profile

(Free Report)

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, screws, nuts, bolts, studs and related washers that are used in manufactured products and construction projects, as well as in machine maintenance and repair.