Fastenal (NASDAQ:FAST) is Oak Asset Management LLC’s 7th Largest Position

Oak Asset Management LLC lowered its holdings in shares of Fastenal (NASDAQ:FAST) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,431 shares of the company’s stock after selling 785 shares during the quarter. Fastenal makes up 2.8% of Oak Asset Management LLC’s portfolio, making the stock its 7th biggest holding. Oak Asset Management LLC’s holdings in Fastenal were worth $7,516,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in Fastenal by 5.7% during the 4th quarter. Van ECK Associates Corp now owns 101,713 shares of the company’s stock valued at $6,588,000 after buying an additional 5,509 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of Fastenal in the 4th quarter valued at approximately $747,000. Raymond James & Associates lifted its stake in shares of Fastenal by 3.7% in the 4th quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock valued at $58,304,000 after purchasing an additional 31,814 shares during the last quarter. Focus Financial Network Inc. ADV bought a new stake in shares of Fastenal in the 4th quarter valued at approximately $1,282,000. Finally, ICW Investment Advisors LLC lifted its stake in shares of Fastenal by 2.0% in the 4th quarter. ICW Investment Advisors LLC now owns 36,090 shares of the company’s stock valued at $2,338,000 after purchasing an additional 694 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other news, Director Daniel L. Johnson bought 3,350 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was acquired at an average cost of $68.38 per share, with a total value of $229,073.00. Following the transaction, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Daniel L. Johnson bought 3,350 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was acquired at an average cost of $68.38 per share, with a total value of $229,073.00. Following the transaction, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James C. Jansen sold 11,428 shares of Fastenal stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total value of $732,191.96. Following the completion of the transaction, the executive vice president now owns 26,176 shares in the company, valued at $1,677,096.32. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FAST has been the subject of several analyst reports. Robert W. Baird lowered their price objective on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Loop Capital lowered their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. HSBC raised their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Finally, Stifel Nicolaus raised their price target on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $68.80.

Fastenal Price Performance

Shares of FAST stock opened at $62.84 on Monday. Fastenal has a 52-week low of $53.83 and a 52-week high of $79.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. The firm has a market capitalization of $35.98 billion, a P/E ratio of 31.11, a P/E/G ratio of 3.36 and a beta of 1.01. The stock has a 50 day moving average price of $65.84 and a 200 day moving average price of $68.65.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. Fastenal’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, sell-side analysts predict that Fastenal will post 2.08 earnings per share for the current year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

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.