Semanteon Capital Management LP Buys 6,629 Shares of Fastenal (NASDAQ:FAST)

Semanteon Capital Management LP increased its stake in Fastenal (NASDAQ:FAST) by 65.9% during the third quarter, Holdings Channel.com reports. The fund owned 16,695 shares of the company’s stock after buying an additional 6,629 shares during the period. Fastenal makes up about 0.8% of Semanteon Capital Management LP’s portfolio, making the stock its 20th biggest position. Semanteon Capital Management LP’s holdings in Fastenal were worth $1,192,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC bought a new stake in shares of Fastenal in the 1st quarter valued at $226,000. Brookstone Capital Management acquired a new stake in Fastenal during the 1st quarter worth about $316,000. Wealthcare Advisory Partners LLC raised its position in shares of Fastenal by 137.3% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 9,476 shares of the company’s stock worth $731,000 after acquiring an additional 5,482 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Fastenal by 135.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 16,607 shares of the company’s stock valued at $1,281,000 after purchasing an additional 9,546 shares during the period. Finally, Founders Financial Securities LLC bought a new stake in shares of Fastenal during the 1st quarter valued at about $273,000. 81.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FAST shares. Stifel Nicolaus restated a “buy” rating and set a $86.00 price target (up from $80.00) on shares of Fastenal in a report on Monday, October 14th. 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 research note on Monday, October 14th. Bank of America initiated coverage on shares of Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley boosted their target price on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.33.

Fastenal Stock Performance

Shares of Fastenal stock traded up $0.85 during mid-day trading on Monday, hitting $76.70. 78,104 shares of the stock were exchanged, compared to its average volume of 3,333,261. Fastenal has a 12 month low of $57.56 and a 12 month high of $79.04. The company has a 50-day simple moving average of $70.91 and a 200 day simple moving average of $67.94. The company has a market capitalization of $43.94 billion, a P/E ratio of 37.74, a P/E/G ratio of 4.48 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. Fastenal’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share. 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 declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, October 25th. This represents a $1.56 annualized dividend and a yield of 2.03%. Fastenal’s payout ratio is currently 77.61%.

Insider Activity at Fastenal

In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of Fastenal stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total value of $52,944.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total value of $52,944.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sheryl Ann Lisowski sold 13,567 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $76.19, for a total value of $1,033,669.73. Following the completion of the sale, the chief accounting officer now owns 5,096 shares in the company, valued at approximately $388,264.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 179,373 shares of company stock worth $13,029,308. 0.41% of the stock is owned by company insiders.

About Fastenal

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.