ORG Partners LLC Raises Stock Holdings in Fastenal (NASDAQ:FAST)

ORG Partners LLC increased its position in Fastenal (NASDAQ:FAST) by 3,788.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,310 shares of the company’s stock after purchasing an additional 7,122 shares during the period. ORG Partners LLC’s holdings in Fastenal were worth $454,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. grew its stake in shares of Fastenal by 8.4% in the second quarter. Great Valley Advisor Group Inc. now owns 63,752 shares of the company’s stock worth $4,007,000 after acquiring an additional 4,949 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Fastenal by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 210,998 shares of the company’s stock worth $13,259,000 after acquiring an additional 11,436 shares during the last quarter. Apeiron RIA LLC grew its stake in shares of Fastenal by 14.3% in the second quarter. Apeiron RIA LLC now owns 4,302 shares of the company’s stock worth $270,000 after acquiring an additional 537 shares during the last quarter. Voisard Asset Management Group Inc. purchased a new stake in shares of Fastenal in the second quarter worth $50,000. Finally, Emerald Advisors LLC grew its stake in shares of Fastenal by 59.9% in the second quarter. Emerald Advisors LLC now owns 4,891 shares of the company’s stock worth $307,000 after acquiring an additional 1,833 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FAST shares. Stephens reissued an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a research note on Monday, July 15th. Stifel Nicolaus reaffirmed a “buy” rating and set a $80.00 price target (down from $85.00) on shares of Fastenal in a report on Monday, July 15th. Jefferies Financial Group lowered their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Finally, Robert W. Baird lowered their price target on Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $66.67.

Fastenal Stock Performance

FAST stock traded up $0.54 during trading on Thursday, reaching $66.81. The stock had a trading volume of 161,234 shares, compared to its average volume of 3,609,570. Fastenal has a 52 week low of $53.83 and a 52 week high of $79.04. The stock’s 50 day moving average is $65.67 and its two-hundred day moving average is $68.95. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The firm has a market cap of $38.25 billion, a PE ratio of 32.97, a PEG ratio of 3.65 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Friday, July 12th. The company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.52 earnings per share. As a group, equities analysts anticipate that Fastenal will post 2.05 earnings per share for the current year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, July 26th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Friday, July 26th. Fastenal’s payout ratio is 77.61%.

Insiders Place Their Bets

In related news, Director Hsenghung Sam Hsu purchased 500 shares of Fastenal stock in a transaction on Monday, June 10th. The stock was acquired at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the transaction, the director now directly owns 3,500 shares in the company, valued at approximately $221,480. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other Fastenal news, Director Hsenghung Sam Hsu bought 500 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the transaction, the director now owns 3,500 shares of the company’s stock, valued at approximately $221,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James C. Jansen sold 11,428 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total value of $732,191.96. Following the sale, the executive vice president now owns 26,176 shares of the company’s stock, valued at approximately $1,677,096.32. The disclosure for this sale can be found here. Company insiders own 0.41% 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.