Fastenal Company $FAST Shares Acquired by Bedrijfstakpensioenfonds Voor DE Media PNO

Bedrijfstakpensioenfonds Voor DE Media PNO boosted its position in Fastenal Company (NASDAQ:FAST - Free Report) by 100.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 230,000 shares of the company's stock after acquiring an additional 115,000 shares during the quarter. Bedrijfstakpensioenfonds Voor DE Media PNO's holdings in Fastenal were worth $9,660,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FAST. Oregon Public Employees Retirement Fund lifted its stake in shares of Fastenal by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company's stock valued at $3,817,000 after purchasing an additional 130 shares in the last quarter. Welch & Forbes LLC lifted its position in Fastenal by 0.4% during the first quarter. Welch & Forbes LLC now owns 32,992 shares of the company's stock valued at $2,559,000 after buying an additional 135 shares in the last quarter. Principal Securities Inc. lifted its position in Fastenal by 0.9% during the first quarter. Principal Securities Inc. now owns 15,886 shares of the company's stock valued at $1,142,000 after buying an additional 140 shares in the last quarter. Salvus Wealth Management LLC grew its stake in Fastenal by 1.6% during the first quarter. Salvus Wealth Management LLC now owns 9,000 shares of the company's stock worth $698,000 after buying an additional 141 shares during the period. Finally, Essex Financial Services Inc. increased its position in shares of Fastenal by 1.7% in the first quarter. Essex Financial Services Inc. now owns 8,870 shares of the company's stock worth $688,000 after acquiring an additional 147 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FAST shares. Northcoast Research started coverage on shares of Fastenal in a report on Thursday, August 21st. They set a "neutral" rating on the stock. Loop Capital restated a "hold" rating on shares of Fastenal in a research note on Tuesday, July 15th. Wolfe Research reiterated a "positive" rating on shares of Fastenal in a research note on Monday, July 14th. Stifel Nicolaus set a $82.00 target price on Fastenal in a report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. upped their price target on Fastenal from $41.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Fastenal presently has an average rating of "Hold" and an average price target of $46.82.

Fastenal Trading Up 1.8%

NASDAQ:FAST opened at $47.99 on Wednesday. The firm has a market capitalization of $55.08 billion, a P/E ratio of 46.14, a P/E/G ratio of 4.29 and a beta of 0.97. The business has a 50 day simple moving average of $47.94 and a 200 day simple moving average of $43.04. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.22 and a quick ratio of 2.12. Fastenal Company has a 12-month low of $34.69 and a 12-month high of $50.63.

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

Fastenal Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, July 29th were paid a $0.22 dividend. The ex-dividend date was Tuesday, July 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.8%. Fastenal's dividend payout ratio (DPR) is presently 84.62%.

Insiders Place Their Bets

In other Fastenal news, CFO Sheryl Ann Lisowski sold 21,052 shares of Fastenal 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 sale, the chief financial officer owned 10,192 shares of the company's stock, valued at $460,780.32. The trade was a 67.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Lewis Soderberg sold 34,612 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $48.03, for a total value of $1,662,414.36. The disclosure for this sale can be found here. In the last three months, insiders sold 111,230 shares of company stock worth $5,288,364. 0.37% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.