Tikehau Investment Management Has $5.34 Million Stake in Fastenal (NASDAQ:FAST)

Tikehau Investment Management reduced its position in shares of Fastenal (NASDAQ:FAST) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,030 shares of the company’s stock after selling 866 shares during the quarter. Fastenal accounts for 4.7% of Tikehau Investment Management’s investment portfolio, making the stock its 13th biggest holding. Tikehau Investment Management’s holdings in Fastenal were worth $5,343,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Gilbert & Cook Inc. boosted its holdings in shares of Fastenal by 4.9% during the fourth 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 period. Assetmark Inc. boosted its stake in shares of Fastenal by 35.9% during the 4th quarter. Assetmark Inc. now owns 2,651 shares of the company’s stock valued at $172,000 after buying an additional 700 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Fastenal by 2.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 78,825 shares of the company’s stock valued at $5,105,000 after acquiring an additional 1,677 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Fastenal by 31.2% in the fourth quarter. Parallel Advisors LLC now owns 10,485 shares of the company’s stock worth $679,000 after acquiring an additional 2,495 shares during the last quarter. Finally, 3Chopt Investment Partners LLC purchased a new stake in shares of Fastenal during the fourth quarter worth $274,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Stock Down 0.0 %

FAST opened at $71.81 on Wednesday. The firm has a market cap of $41.11 billion, a P/E ratio of 35.73, 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 quick ratio of 2.29 and a current ratio of 4.39. The business has a 50 day moving average price of $68.18 and a 200 day moving average price of $68.35. Fastenal has a twelve month low of $53.94 and a twelve month high of $79.04.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the firm earned $0.52 EPS. Fastenal’s quarterly revenue was up 1.8% compared to the same quarter last year. Research analysts forecast that Fastenal will post 2.04 EPS for the current year.

Fastenal Dividend Announcement

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

Insider Transactions at Fastenal

In related news, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,929,734.24. The sale 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 dated 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 transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,489,266.52. The transaction 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 stock in a transaction dated 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 completion of the sale, the chief executive officer now 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.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Stephens restated an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a research note on Monday, July 15th. Jefferies Financial Group lowered their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Morgan Stanley began coverage on shares of Fastenal in a research report on Friday, September 6th. They set an “equal weight” rating and a $72.00 price objective on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $80.00 target price (down 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 issued a buy rating to the company. Based on data from MarketBeat, Fastenal currently has an average rating of “Hold” and an average price target of $67.43.

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.