Natixis Advisors L.P. increased its stake in Fastenal (NASDAQ:FAST) by 105.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 201,663 shares of the company’s stock after purchasing an additional 103,358 shares during the quarter. Natixis Advisors L.P.’s holdings in Fastenal were worth $6,572,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of FAST. Comerica Securities Inc. lifted its stake in shares of Fastenal by 4.6% in the fourth quarter. Comerica Securities Inc. now owns 10,742 shares of the company’s stock worth $562,000 after buying an additional 475 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Fastenal by 17.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,282,850 shares of the company’s stock worth $67,081,000 after acquiring an additional 192,809 shares during the period. Geode Capital Management LLC lifted its position in Fastenal by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 4,165,575 shares of the company’s stock worth $217,478,000 after acquiring an additional 225,481 shares during the last quarter. SG Americas Securities LLC lifted its position in Fastenal by 31.1% during the 1st quarter. SG Americas Securities LLC now owns 5,675 shares of the company’s stock worth $365,000 after acquiring an additional 1,345 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its position in Fastenal by 3.7% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 27,012 shares of the company’s stock worth $1,737,000 after acquiring an additional 966 shares during the last quarter. Hedge funds and other institutional investors own 84.90% of the company’s stock.
Several brokerages have recently issued reports on FAST. Buckingham Research lowered their price target on Fastenal from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. ValuEngine lowered Fastenal from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 23rd. Zacks Investment Research raised Fastenal from a “sell” rating to a “hold” rating and set a $34.00 price objective for the company in a research report on Tuesday. Wells Fargo & Co decreased their target price on Fastenal from $35.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, July 12th. Finally, BidaskClub raised Fastenal from a “sell” rating to a “hold” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $31.50.
Fastenal stock traded up $0.45 during mid-day trading on Wednesday, reaching $33.24. The company had a trading volume of 148,265 shares, compared to its average volume of 3,381,574. The company has a quick ratio of 2.13, a current ratio of 4.68 and a debt-to-equity ratio of 0.25. The firm has a market cap of $18.39 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.46 and a beta of 1.23. The company has a 50 day moving average of $30.40 and a 200-day moving average of $46.41. Fastenal has a 52 week low of $24.00 and a 52 week high of $35.94.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Thursday, July 11th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. Fastenal had a return on equity of 32.27% and a net margin of 14.74%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 EPS. On average, analysts predict that Fastenal will post 1.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, July 25th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Wednesday, July 24th. Fastenal’s dividend payout ratio (DPR) is presently 66.67%.
In other news, Director Michael J. Ancius purchased 1,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $28.99 per share, with a total value of $28,990.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel L. Johnson acquired 2,500 shares of Fastenal stock in a transaction on Thursday, August 1st. The stock was purchased at an average price of $30.49 per share, with a total value of $76,225.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 4,604 shares of company stock worth $138,479. 0.62% of the stock is owned by company insiders.
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.
Further Reading: Rule of 72
Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal (NASDAQ:FAST).
Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.