Kathmere Capital Management LLC Has $342,000 Stake in Fastenal (NASDAQ:FAST)

Kathmere Capital Management LLC decreased its stake in shares of Fastenal (NASDAQ:FAST) by 28.5% during the second quarter, HoldingsChannel.com reports. The fund owned 5,440 shares of the company’s stock after selling 2,166 shares during the period. Kathmere Capital Management LLC’s holdings in Fastenal were worth $342,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Central Valley Advisors LLC acquired a new position in shares of Fastenal during the 2nd quarter valued at about $28,000. MCF Advisors LLC grew its holdings in 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 buying an additional 391 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in Fastenal in the 2nd quarter valued at approximately $32,000. Crewe Advisors LLC grew its holdings in 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 buying an additional 428 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Fastenal in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of FAST stock opened at $71.52 on Friday. The stock has a 50 day moving average of $68.33 and a two-hundred day moving average of $68.32. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. Fastenal has a 12 month low of $53.94 and a 12 month high of $79.04. The company has a market capitalization of $40.95 billion, a P/E ratio of 35.58, a P/E/G ratio of 3.92 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. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. Fastenal’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.52 EPS. As a group, equities analysts expect that Fastenal will post 2.04 EPS for the current year.

Fastenal Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 2.18%. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Wall Street Analyst Weigh In

FAST has been the topic of a number of research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 target price (down previously from $85.00) on shares of Fastenal in a report on Monday, July 15th. Stephens reaffirmed an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a report on Monday, July 15th. Morgan Stanley began coverage on Fastenal in a report on Friday, September 6th. They issued an “equal weight” rating and a $72.00 target price on the stock. Finally, Jefferies Financial Group reduced their price objective on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Fastenal has an average rating of “Hold” and an average target price of $67.43.

Insider Buying and Selling

In related news, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,929,734.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Fastenal news, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,489,266.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Daniel L. Florness sold 50,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,929,734.24. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate 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.