Loudon Investment Management LLC Has $5.11 Million Stock Position in Fastenal (NASDAQ:FAST)

Loudon Investment Management LLC trimmed its stake in Fastenal (NASDAQ:FAST) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 81,366 shares of the company’s stock after selling 305 shares during the period. Fastenal makes up approximately 3.0% of Loudon Investment Management LLC’s portfolio, making the stock its 5th largest position. Loudon Investment Management LLC’s holdings in Fastenal were worth $5,113,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FAST. Gilbert & Cook Inc. boosted its stake in Fastenal by 4.9% in the fourth quarter. Gilbert & Cook Inc. now owns 6,684 shares of the company’s stock valued at $433,000 after acquiring an additional 312 shares during the last quarter. Montag A & Associates Inc. boosted its stake in Fastenal by 665.5% in the fourth quarter. Montag A & Associates Inc. now owns 1,286 shares of the company’s stock valued at $83,000 after acquiring an additional 1,118 shares during the last quarter. Principal Securities Inc. purchased a new position in Fastenal in the fourth quarter valued at about $919,000. Donoghue Forlines LLC lifted its stake in shares of Fastenal by 20.2% during the 4th quarter. Donoghue Forlines LLC now owns 11,214 shares of the company’s stock valued at $726,000 after buying an additional 1,884 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of Fastenal by 64.3% during the 4th quarter. Teacher Retirement System of Texas now owns 163,138 shares of the company’s stock valued at $10,566,000 after buying an additional 63,823 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fastenal

In other Fastenal news, Director Hsenghung Sam Hsu purchased 500 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was bought at an average cost of $63.28 per share, with a total value of $31,640.00. Following the transaction, the director now directly owns 3,500 shares in the company, valued at approximately $221,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fastenal news, Director Hsenghung Sam Hsu purchased 500 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was bought at an average cost of $63.28 per share, with a total value of $31,640.00. Following the transaction, the director now directly owns 3,500 shares in the company, valued at approximately $221,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel L. Florness sold 45,744 shares of Fastenal 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 directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Morgan Stanley started coverage on shares of Fastenal in a research note on Friday. They set an “equal weight” rating and a $72.00 price target on the stock. Stephens reissued an “equal weight” rating and issued a $56.00 price target on shares of Fastenal in a report on Monday, July 15th. Stifel Nicolaus reissued a “buy” rating and issued a $80.00 price target (down previously from $85.00) on shares of Fastenal in a report on Monday, July 15th. Finally, Jefferies Financial Group decreased their price target 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 investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Fastenal presently has an average rating of “Hold” and an average price target of $67.43.

Fastenal Trading Up 1.1 %

Shares of FAST stock traded up $0.71 on Friday, hitting $65.89. 3,199,589 shares of the company’s stock traded hands, compared to its average volume of 3,484,385. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39. Fastenal has a one year low of $53.83 and a one year high of $79.04. The company’s fifty day simple moving average is $66.71 and its 200 day simple moving average is $68.67. The stock has a market capitalization of $37.73 billion, a price-to-earnings ratio of 32.78, a P/E/G ratio of 3.72 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, July 12th. The company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the company posted $0.52 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts forecast that Fastenal will post 2.04 EPS for the current year.

Fastenal Announces Dividend

The firm also recently declared 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 of this dividend was Friday, July 26th. This represents a $1.56 dividend on an annualized basis and a yield of 2.37%. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

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.