New York State Teachers Retirement System Has $29.84 Million Stock Position in Fastenal (NASDAQ:FAST)

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New York State Teachers Retirement System increased its stake in Fastenal (NASDAQ:FAST) by 144.6% during the second quarter, Holdings reports. The fund owned 915,546 shares of the company’s stock after buying an additional 541,173 shares during the period. New York State Teachers Retirement System’s holdings in Fastenal were worth $29,838,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FAST. Investors Research Corp acquired a new position in Fastenal in the first quarter valued at approximately $26,000. Strategy Asset Managers LLC acquired a new position in Fastenal in the first quarter valued at approximately $32,000. Trustcore Financial Services LLC acquired a new position in Fastenal in the first quarter valued at approximately $43,000. AdvisorNet Financial Inc increased its holdings in shares of Fastenal by 483.9% during the second quarter. AdvisorNet Financial Inc now owns 1,524 shares of the company’s stock valued at $50,000 after acquiring an additional 1,263 shares in the last quarter. Finally, Bremer Bank National Association bought a new stake in Fastenal during the first quarter worth $53,000. 85.36% of the stock is currently owned by institutional investors.

FAST has been the subject of several recent research reports. Buckingham Research decreased their price target on Fastenal from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, July 12th. William Blair reiterated a “market perform” rating on shares of Luminex in a report on Tuesday, May 7th. Northcoast Research downgraded Fastenal from a “buy” rating to a “neutral” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Wells Fargo & Co set a $29.00 price objective on Establishment Labs and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Fastenal presently has a consensus rating of “Hold” and a consensus price target of $31.31.

NASDAQ:FAST traded up $1.04 during trading on Tuesday, reaching $31.68. The company’s stock had a trading volume of 167,526 shares, compared to its average volume of 4,732,057. The company has a market capitalization of $17.68 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.25. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 4.68. The company has a 50 day simple moving average of $31.78. Fastenal has a 12 month low of $24.00 and a 12 month high of $35.94.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, July 11th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Fastenal had a net margin of 14.74% and a return on equity of 32.27%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the company earned $0.37 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts forecast that Fastenal will post 1.38 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, July 25th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.78%. Fastenal’s dividend payout ratio is presently 65.15%.

In other news, Director Michael J. Ancius purchased 1,104 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were purchased at an average price of $30.13 per share, with a total value of $33,263.52. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Sheryl Ann Lisowski sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $71.38, for a total value of $713,800.00. Following the transaction, the chief accounting officer now directly owns 10,300 shares in the company, valued at approximately $735,214. The disclosure for this sale can be found here. Insiders have sold a total of 108,541 shares of company stock worth $7,611,453 in the last ninety days. Insiders own 0.62% of the company’s stock.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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