Fastenal (NASDAQ:FAST) Shares Purchased by Acadian Asset Management LLC

Acadian Asset Management LLC raised its stake in shares of Fastenal (NASDAQ:FAST) by 477.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,796 shares of the company’s stock after buying an additional 13,061 shares during the period. Acadian Asset Management LLC’s holdings in Fastenal were worth $992,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FAST. Gilbert & Cook Inc. grew its stake in shares of Fastenal by 4.9% in the 4th quarter. Gilbert & Cook Inc. now owns 6,684 shares of the company’s stock worth $433,000 after purchasing an additional 312 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Fastenal by 7.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 12,978 shares of the company’s stock worth $841,000 after purchasing an additional 924 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Fastenal by 0.8% in the 4th quarter. Panagora Asset Management Inc. now owns 19,095 shares of the company’s stock worth $1,237,000 after purchasing an additional 152 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of Fastenal in the 4th quarter worth approximately $207,000. Finally, Independent Advisor Alliance grew its stake in shares of Fastenal by 4.5% in the 4th quarter. Independent Advisor Alliance now owns 9,602 shares of the company’s stock worth $622,000 after purchasing an additional 410 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Fastenal

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

Fastenal Price Performance

Shares of FAST opened at $70.09 on Tuesday. The firm has a market cap of $40.14 billion, a PE ratio of 34.87, a PEG ratio of 3.78 and a beta of 1.01. The firm’s 50 day moving average price is $67.50 and its 200 day moving average price is $68.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39. Fastenal has a twelve month low of $53.83 and a twelve month high of $79.04.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. As a group, research analysts expect that Fastenal will post 2.04 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently disclosed 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. This represents a $1.56 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Friday, July 26th. Fastenal’s payout ratio is presently 77.61%.

Fastenal Company Profile

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.