Ensign Peak Advisors Inc Buys 135,480 Shares of Fastenal (NASDAQ:FAST)

Ensign Peak Advisors Inc grew its stake in shares of Fastenal (NASDAQ:FAST) by 14.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,082,002 shares of the company’s stock after acquiring an additional 135,480 shares during the period. Ensign Peak Advisors Inc owned about 0.19% of Fastenal worth $67,993,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FAST. MCF Advisors LLC lifted its holdings in shares of Fastenal by 2,172.2% in the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after buying an additional 391 shares during the period. Central Valley Advisors LLC purchased a new stake in Fastenal in the second quarter worth about $28,000. LRI Investments LLC bought a new position in Fastenal during the 1st quarter worth about $39,000. Triad Wealth Partners LLC purchased a new position in Fastenal during the 2nd quarter valued at about $32,000. Finally, Crewe Advisors LLC raised its holdings in shares of 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 purchasing an additional 428 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling

In other Fastenal news, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,489,266.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction dated 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 owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,489,266.52. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Fastenal Stock Down 0.9 %

Shares of FAST stock opened at $70.75 on Friday. The stock’s fifty day moving average price is $68.05 and its 200 day moving average price is $68.45. Fastenal has a 1-year low of $53.83 and a 1-year high of $79.04. The company has a market cap of $40.51 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 3.78 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29.

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

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were issued a $0.39 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.20%. Fastenal’s dividend payout ratio is currently 77.61%.

Analysts Set New Price Targets

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

Fastenal 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.