Deutsche Bank AG purchased a new position in Fastenal Company (NASDAQ:FAST - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,981,867 shares of the company's stock, valued at approximately $239,279,000. Deutsche Bank AG owned 0.43% of Fastenal as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Integrated Wealth Concepts LLC increased its holdings in Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company's stock valued at $487,000 after buying an additional 147 shares during the period. Tandem Investment Advisors Inc. lifted its holdings in shares of Fastenal by 1.8% during the 1st quarter. Tandem Investment Advisors Inc. now owns 12,356 shares of the company's stock worth $573,000 after acquiring an additional 224 shares during the period. Sittner & Nelson LLC lifted its holdings in shares of Fastenal by 0.3% during the 4th quarter. Sittner & Nelson LLC now owns 68,495 shares of the company's stock worth $2,749,000 after acquiring an additional 226 shares during the period. Sound Income Strategies LLC boosted its position in shares of Fastenal by 12.9% during the 1st quarter. Sound Income Strategies LLC now owns 2,025 shares of the company's stock worth $94,000 after acquiring an additional 232 shares in the last quarter. Finally, L2 Asset Management LLC boosted its position in shares of Fastenal by 4.8% during the 3rd quarter. L2 Asset Management LLC now owns 5,389 shares of the company's stock worth $264,000 after acquiring an additional 248 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. Jefferies Financial Group restated a "buy" rating on shares of Fastenal in a research report on Thursday, June 4th. Rothschild & Co Redburn set a $55.00 target price on Fastenal and gave the company a "buy" rating in a report on Monday, July 13th. Robert W. Baird set a $54.00 price target on Fastenal in a research note on Friday, August 7th. DA Davidson reissued a "neutral" rating and set a $46.00 price target on shares of Fastenal in a report on Wednesday, July 15th. Finally, Barclays lowered their price target on Fastenal from $47.00 to $46.00 and set an "equal weight" rating for the company in a report on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Fastenal currently has a consensus rating of "Hold" and a consensus price target of $49.17.
View Our Latest Research Report on Fastenal
Fastenal Trading Up 0.1%
Shares of FAST stock opened at $51.27 on Wednesday. The firm has a market capitalization of $58.83 billion, a P/E ratio of 43.45, a P/E/G ratio of 3.18 and a beta of 0.72. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $52.92. The company has a quick ratio of 2.21, a current ratio of 4.18 and a debt-to-equity ratio of 0.01. The stock's fifty day simple moving average is $47.67 and its 200 day simple moving average is $46.22.
Fastenal (NASDAQ:FAST - Get Free Report) last issued its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.33. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The business had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.34 billion. During the same quarter in the prior year, the firm earned $0.29 EPS. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, sell-side analysts predict that Fastenal Company will post 1.26 EPS for the current fiscal year.
Fastenal Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be paid a $0.26 dividend. This is an increase from Fastenal's previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, July 28th. Fastenal's payout ratio is currently 88.14%.
Insider Activity at Fastenal
In related news, Director Rita J. Heise sold 34,964 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total value of $1,749,948.20. Following the completion of the transaction, the director owned 20,000 shares in the company, valued at $1,001,000. This trade represents a 63.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael J. Ancius sold 3,000 shares of Fastenal stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the sale, the director owned 58,690 shares in the company, valued at approximately $2,875,810. This represents a 4.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.28% of the company's stock.
Fastenal Profile
(
Free Report)
Fastenal NASDAQ: FAST is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.
Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.
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