Vanguard Personalized Indexing Management LLC Acquires 16,449 Shares of Fastenal (NASDAQ:FAST)

Vanguard Personalized Indexing Management LLC raised its holdings in Fastenal (NASDAQ:FAST) by 27.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,415 shares of the company’s stock after acquiring an additional 16,449 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Fastenal were worth $4,785,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Penobscot Investment Management Company Inc. increased its position in Fastenal by 1.1% during the 1st quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock worth $1,030,000 after purchasing an additional 150 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Fastenal by 0.8% during the fourth quarter. Panagora Asset Management Inc. now owns 19,095 shares of the company’s stock worth $1,237,000 after buying an additional 152 shares in the last quarter. Sara Bay Financial lifted its stake in shares of Fastenal by 1.3% in the 2nd quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock valued at $746,000 after acquiring an additional 155 shares during the last quarter. Trueblood Wealth Management LLC boosted its holdings in shares of Fastenal by 1.4% during the 2nd quarter. Trueblood Wealth Management LLC now owns 11,314 shares of the company’s stock valued at $711,000 after acquiring an additional 156 shares in the last quarter. Finally, Team Hewins LLC grew its position in Fastenal by 4.8% during the 1st quarter. Team Hewins LLC now owns 3,404 shares of the company’s stock worth $263,000 after acquiring an additional 157 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Down 0.2 %

Fastenal stock opened at $70.47 on Thursday. The firm has a market cap of $40.35 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 3.78 and a beta of 1.01. Fastenal has a 52-week low of $53.83 and a 52-week high of $79.04. 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 firm has a 50 day moving average price of $67.80 and a two-hundred day moving average price of $68.50.

Fastenal (NASDAQ:FAST) last announced its 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 during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. Fastenal’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. Equities analysts predict that Fastenal will post 2.04 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently disclosed 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 2.21%. The ex-dividend date was Friday, July 26th. Fastenal’s dividend payout ratio is 77.61%.

Analyst Upgrades and Downgrades

FAST has been the subject of several research reports. Stephens reiterated an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a research report on Monday, July 15th. Stifel Nicolaus reiterated a “buy” rating and issued a $80.00 price objective (down previously from $85.00) on shares of Fastenal in a report on Monday, July 15th. Morgan Stanley began coverage on shares of Fastenal in a report on Friday, September 6th. They set an “equal weight” rating and a $72.00 target price on the stock. Finally, Jefferies Financial Group dropped their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. 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 presently has a consensus rating of “Hold” and a consensus price target of $67.43.

Insider Activity at Fastenal

In other Fastenal 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 transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,929,734.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel L. Florness sold 45,744 shares of Fastenal 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 sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

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.