True North Advisors LLC Has $2.37 Million Stock Holdings in Fastenal (NASDAQ:FAST)

True North Advisors LLC lifted its position in shares of Fastenal (NASDAQ:FAST) by 5.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,200 shares of the company’s stock after purchasing an additional 1,650 shares during the quarter. Fastenal accounts for 0.6% of True North Advisors LLC’s portfolio, making the stock its 28th largest position. True North Advisors LLC’s holdings in Fastenal were worth $2,371,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FAST. Nomura Holdings Inc. acquired a new stake in shares of Fastenal in the fourth quarter valued at approximately $747,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Fastenal by 98.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 118,301 shares of the company’s stock valued at $9,126,000 after acquiring an additional 58,726 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Fastenal in the 4th quarter valued at about $1,078,000. Empowered Funds LLC increased its stake in shares of Fastenal by 205.4% during the 1st quarter. Empowered Funds LLC now owns 27,181 shares of the company’s stock worth $2,097,000 after purchasing an additional 18,281 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Fastenal by 499.7% in the 1st quarter. Cetera Investment Advisers now owns 132,046 shares of the company’s stock valued at $10,186,000 after purchasing an additional 110,027 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $70.17 on Wednesday. The company’s fifty day moving average is $68.53 and its 200 day moving average is $67.98. The stock has a market cap of $40.18 billion, a PE ratio of 34.91, a PEG ratio of 3.92 and a beta of 1.01. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. Fastenal has a 52 week low of $55.42 and a 52 week high of $79.04.

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

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.56 annualized dividend and a dividend yield of 2.22%. Fastenal’s payout ratio is 77.61%.

Insider Activity at Fastenal

In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of the business’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 completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,929,734.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Daniel L. Florness sold 45,744 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,489,266.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel L. Florness sold 50,000 shares of the business’s stock in a transaction that occurred 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 directly owns 286,018 shares in the company, valued at approximately $19,929,734.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on FAST shares. Morgan Stanley began coverage on Fastenal in a report on Friday, September 6th. They set an “equal weight” rating and a $72.00 target price on the stock. Bank of America assumed coverage on shares of Fastenal in a research report on Monday. They issued a “buy” rating and a $85.00 price objective on the stock. Stephens reiterated an “equal weight” rating and issued a $56.00 price target on shares of Fastenal in a research note on Monday, July 15th. Jefferies Financial Group reduced their price objective on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $80.00 target price (down previously from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $69.63.

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.