Pacer Advisors Inc. Boosts Stock Position in Fastenal (NASDAQ:FAST)

Pacer Advisors Inc. lifted its position in shares of Fastenal (NASDAQ:FAST) by 9.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,468 shares of the company’s stock after buying an additional 7,323 shares during the period. Pacer Advisors Inc.’s holdings in Fastenal were worth $5,371,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FAST. Central Valley Advisors LLC purchased a new position in shares of Fastenal during the second quarter worth approximately $28,000. MCF Advisors LLC raised its position in 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 purchasing an additional 391 shares during the period. Triad Wealth Partners LLC bought a new stake in Fastenal in the second quarter worth $32,000. Crewe Advisors LLC boosted its position in Fastenal by 528.4% during the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after buying an additional 428 shares during the period. Finally, OFI Invest Asset Management bought a new position in shares of Fastenal during the second quarter valued at about $35,000. Institutional investors own 81.38% of the company’s stock.

Insider Activity at Fastenal

In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction on 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 in the company, valued at $19,929,734.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Daniel L. Florness sold 45,744 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,489,266.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 value of $3,484,000.00. Following the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Fastenal Stock Up 1.5 %

Shares of Fastenal stock opened at $71.83 on Tuesday. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. Fastenal has a 12-month low of $53.94 and a 12-month high of $79.04. The company has a market cap of $41.13 billion, a P/E ratio of 35.74, a PEG ratio of 3.78 and a beta of 1.01. The company’s fifty day simple moving average is $68.13 and its two-hundred day simple moving average is $68.38.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. Fastenal’s quarterly revenue was up 1.8% on a year-over-year basis. Research analysts anticipate that Fastenal will post 2.04 EPS for the current year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, July 26th. Fastenal’s payout ratio is presently 77.61%.

Analyst Upgrades and Downgrades

FAST has been the subject of several analyst reports. Stephens restated an “equal weight” rating and set a $56.00 target price on shares of Fastenal in a report on Monday, July 15th. Morgan Stanley started coverage on Fastenal in a research note on Friday, September 6th. They set an “equal weight” rating and a $72.00 price objective for the company. Jefferies Financial Group cut their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $80.00 price target (down previously from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.