Fastenal Company (NASDAQ:FAST) Shares Bought by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. significantly increased its stake in Fastenal Company by 95.4%, acquiring a total of 16,092 shares worth approximately $1.25 million.
• Fastenal reported a quarterly earnings per share (EPS) of $0.29, which exceeded analysts' expectations of $0.28, along with a revenue increase of 8.6% year-over-year.
• Fastenal declared a quarterly dividend of $0.22 per share, translating to an annual yield of 1.8%, with a payout ratio of 84.62%.

E Fund Management Co. Ltd. increased its position in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 95.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,092 shares of the company's stock after acquiring an additional 7,857 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Fastenal were worth $1,248,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its stake in shares of Fastenal by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company's stock worth $3,817,000 after acquiring an additional 130 shares in the last quarter. Anchor Investment Management LLC raised its stake in shares of Fastenal by 3.4% during the 4th quarter. Anchor Investment Management LLC now owns 4,134 shares of the company's stock worth $297,000 after acquiring an additional 135 shares in the last quarter. Welch & Forbes LLC raised its stake in shares of Fastenal by 0.4% during the 1st quarter. Welch & Forbes LLC now owns 32,992 shares of the company's stock worth $2,559,000 after acquiring an additional 135 shares in the last quarter. Principal Securities Inc. grew its position in Fastenal by 0.9% during the 1st quarter. Principal Securities Inc. now owns 15,886 shares of the company's stock worth $1,142,000 after purchasing an additional 140 shares during the last quarter. Finally, Salvus Wealth Management LLC grew its position in Fastenal by 1.6% during the 1st quarter. Salvus Wealth Management LLC now owns 9,000 shares of the company's stock worth $698,000 after purchasing an additional 141 shares during the last quarter. Institutional investors own 81.38% of the company's stock.

Fastenal Stock Performance

NASDAQ FAST traded up $0.19 during mid-day trading on Friday, reaching $48.88. 5,847,024 shares of the stock were exchanged, compared to its average volume of 5,954,687. The business's 50 day moving average is $44.55 and its 200-day moving average is $40.91. Fastenal Company has a 1 year low of $32.04 and a 1 year high of $49.26. The company has a market capitalization of $56.10 billion, a P/E ratio of 47.00, a P/E/G ratio of 4.45 and a beta of 0.95. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.12 and a current ratio of 4.22.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings results on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, July 29th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, July 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.8%. Fastenal's dividend payout ratio is 84.62%.

Analyst Upgrades and Downgrades

FAST has been the topic of several research analyst reports. Baird R W raised shares of Fastenal from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Loop Capital reissued a "hold" rating on shares of Fastenal in a research report on Tuesday, July 15th. Morgan Stanley set a $40.00 target price on shares of Fastenal and gave the stock an "equal weight" rating in a research report on Thursday, July 3rd. Wolfe Research reissued a "positive" rating on shares of Fastenal in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Fastenal from $38.00 to $41.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $46.36.

Insider Buying and Selling

In other Fastenal news, insider Jeffery Michael Watts sold 48,724 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the completion of the transaction, the insider directly owned 11,880 shares in the company, valued at approximately $570,834. This represents a 80.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of the company's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $45.21, for a total transaction of $951,760.92. Following the transaction, the chief financial officer owned 10,192 shares of the company's stock, valued at $460,780.32. This represents a 67.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,388 shares of company stock valued at $4,955,363. Corporate insiders own 0.37% of the company's stock.

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.