Brown Advisory Inc. Buys 100,148 Shares of Fastenal Company $FAST

Brown Advisory Inc. lifted its stake in shares of Fastenal Company (NASDAQ:FAST) by 104.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 196,121 shares of the company’s stock after acquiring an additional 100,148 shares during the quarter. Brown Advisory Inc.’s holdings in Fastenal were worth $8,237,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Riverview Trust Co increased its holdings in Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after purchasing an additional 292 shares during the period. Hilltop National Bank bought a new position in shares of Fastenal during the 2nd quarter worth $27,000. Private Wealth Management Group LLC increased its stake in shares of Fastenal by 111.9% during the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after buying an additional 339 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Fastenal in the second quarter valued at about $27,000. Finally, Armstrong Advisory Group Inc. raised its holdings in shares of Fastenal by 100.0% in the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after acquiring an additional 348 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FAST shares. JPMorgan Chase & Co. raised their target price on shares of Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, September 4th. Robert W. Baird lowered their price target on shares of 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 shares of Fastenal in a report on Tuesday, November 11th. They set an “underperform” rating and a $38.00 price objective on the stock. Northcoast Research started coverage on shares of Fastenal in a research note on Thursday, August 21st. They issued a “neutral” rating for the company. Finally, Wolfe Research upgraded Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price for the company in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.70.

Fastenal Stock Performance

Shares of FAST opened at $40.80 on Tuesday. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. The firm has a market cap of $46.84 billion, a PE ratio of 38.13, a P/E/G ratio of 3.30 and a beta of 0.89. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63. The stock has a fifty day moving average price of $42.36 and a 200-day moving average price of $44.42.

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 the consensus estimate of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the company earned $0.26 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Equities research analysts predict that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.2%. Fastenal’s dividend payout ratio is 82.24%.

Insider Activity at Fastenal

In related news, Director Hsenghung Sam Hsu bought 1,000 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was bought at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately $495,800. This trade represents a 11.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sarah N. Nielsen purchased 1,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at $198,000. This represents a 25.00% 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 valued at $131,630 over the last ninety days. 0.37% of the stock is currently owned by insiders.

Fastenal 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.