Jacobson & Schmitt Advisors LLC Increases Stock Position in Fastenal (NASDAQ:FAST)

Jacobson & Schmitt Advisors LLC increased its position in Fastenal (NASDAQ:FAST) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 168,365 shares of the company’s stock after purchasing an additional 5,292 shares during the quarter. Fastenal accounts for 2.5% of Jacobson & Schmitt Advisors LLC’s portfolio, making the stock its 20th largest position. Jacobson & Schmitt Advisors LLC’s holdings in Fastenal were worth $12,025,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FAST. First Trust Direct Indexing L.P. raised its holdings in Fastenal by 8.7% in the first quarter. First Trust Direct Indexing L.P. now owns 15,439 shares of the company’s stock valued at $1,191,000 after acquiring an additional 1,240 shares in the last quarter. Van ECK Associates Corp raised its holdings in Fastenal by 6.9% in the first quarter. Van ECK Associates Corp now owns 108,726 shares of the company’s stock valued at $8,387,000 after acquiring an additional 7,013 shares in the last quarter. Norden Group LLC raised its holdings in Fastenal by 57.9% in the first quarter. Norden Group LLC now owns 7,399 shares of the company’s stock valued at $571,000 after acquiring an additional 2,712 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Fastenal by 0.3% during the first quarter. Retirement Systems of Alabama now owns 126,299 shares of the company’s stock worth $9,743,000 after purchasing an additional 366 shares during the period. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Fastenal during the first quarter worth $328,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP John Lewis Soderberg sold 488 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $76.32, for a total transaction of $37,244.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Anthony Paul Broersma sold 680 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John Lewis Soderberg sold 488 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 190,261 shares of company stock worth $13,874,979. Corporate insiders own 0.41% of the company’s stock.

Fastenal Stock Performance

Shares of FAST opened at $78.18 on Friday. The firm has a 50-day moving average price of $71.74 and a 200 day moving average price of $68.18. The firm has a market capitalization of $44.79 billion, a PE ratio of 38.90, a P/E/G ratio of 4.59 and a beta of 1.01. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. Fastenal has a 52-week low of $58.04 and a 52-week high of $79.04.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. Fastenal’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. On average, sell-side analysts anticipate that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given 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 2.00%. Fastenal’s dividend payout ratio is presently 77.61%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Bank of America assumed coverage on shares of Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 target price on the stock. Morgan Stanley increased their target price on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. increased their target price on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Stephens increased 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, Jefferies Financial Group dropped their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $73.33.

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.