Crew Capital Management Ltd. Boosts Stake in Fastenal (NASDAQ:FAST)

Crew Capital Management Ltd. grew its stake in Fastenal (NASDAQ:FAST) by 15.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,437 shares of the company’s stock after purchasing an additional 1,956 shares during the quarter. Crew Capital Management Ltd.’s holdings in Fastenal were worth $1,031,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of FAST. Central Valley Advisors LLC acquired a new stake in shares of Fastenal in the 2nd quarter valued at about $28,000. MCF Advisors LLC raised its stake in shares of Fastenal by 2,172.2% in the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after purchasing an additional 391 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of Fastenal in the 2nd quarter valued at about $32,000. Crewe Advisors LLC raised its stake in shares of Fastenal by 528.4% in the 2nd quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after purchasing an additional 428 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC raised its stake in shares of Fastenal by 1,019.0% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after purchasing an additional 428 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Down 0.7 %

FAST stock traded down $0.57 during midday trading on Monday, reaching $77.33. The company had a trading volume of 813,183 shares, compared to its average volume of 3,353,249. Fastenal has a 1 year low of $56.41 and a 1 year high of $79.04. 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 company has a market capitalization of $44.28 billion, a P/E ratio of 38.76, a PEG ratio of 4.13 and a beta of 1.01. The company has a 50 day moving average of $69.92 and a two-hundred day moving average of $67.91.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. Fastenal’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. On average, equities research analysts expect that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 2.02%. Fastenal’s payout ratio is presently 77.61%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FAST. Robert W. Baird increased their price objective on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Morgan Stanley upped their target price on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Bank of America assumed coverage on shares of Fastenal in a research report on Monday, October 7th. They issued a “buy” rating and a $85.00 target price for the company. Stephens raised their target price on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Finally, Stifel Nicolaus restated a “buy” rating and set a $86.00 target price (up from $80.00) on shares of Fastenal in a report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average target price of $73.33.

Insider Activity at Fastenal

In related news, EVP Anthony Paul Broersma sold 680 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total value of $52,944.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Anthony Paul Broersma sold 680 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total value of $52,944.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William Joseph Drazkowski sold 16,362 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.65, for a total transaction of $1,270,509.30. Following the completion of the sale, the insider now owns 5,997 shares in the company, valued at $465,667.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 179,373 shares of company stock worth $13,029,308. 0.41% of the stock is 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.