Fastenal Company $FAST Shares Bought by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Fastenal by 154.0% in Q2, owning 118,845 shares valued at nearly $5 million.
• Fastenal reported Q2 earnings of $0.29 EPS, surpassing estimates, with revenue increasing 8.6% year-over-year to $2.08 billion.
• The company recently announced a dividend of $0.22 per share, with an annualized yield of 1.8% and a payout ratio of 84.62%.

Robeco Institutional Asset Management B.V. lifted its stake in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 154.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,845 shares of the company's stock after acquiring an additional 72,052 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Fastenal were worth $4,991,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Armstrong Advisory Group Inc. boosted its stake in shares of Fastenal by 100.0% during the second quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company's stock valued at $29,000 after acquiring an additional 348 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in shares of Fastenal by 95.0% during the second quarter. AdvisorNet Financial Inc now owns 702 shares of the company's stock valued at $29,000 after acquiring an additional 342 shares during the last quarter. Clean Yield Group boosted its stake in shares of Fastenal by 100.0% during the second quarter. Clean Yield Group now owns 696 shares of the company's stock valued at $29,000 after acquiring an additional 348 shares during the last quarter. Garde Capital Inc. boosted its stake in shares of Fastenal by 4,900.0% during the second quarter. Garde Capital Inc. now owns 750 shares of the company's stock valued at $32,000 after acquiring an additional 735 shares during the last quarter. Finally, SJS Investment Consulting Inc. boosted its stake in shares of Fastenal by 86.3% during the second quarter. SJS Investment Consulting Inc. now owns 842 shares of the company's stock valued at $35,000 after acquiring an additional 390 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Fastenal Stock Performance

Fastenal stock opened at $47.78 on Tuesday. The stock's 50-day moving average is $48.20 and its 200-day moving average is $43.71. The company has a market cap of $54.83 billion, a price-to-earnings ratio of 45.94, a price-to-earnings-growth ratio of 4.34 and a beta of 0.94. 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 released its quarterly earnings data on Monday, July 14th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.07 billion. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. Equities analysts anticipate that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Cuts Dividend

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

Insider Transactions at Fastenal

In other news, EVP William Joseph Drazkowski sold 6,842 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $48.67, for a total value of $333,000.14. Following the transaction, the executive vice president directly owned 11,994 shares in the company, valued at $583,747.98. This trade represents a 36.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of the stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $45.21, for a total value of $951,760.92. Following the completion of the sale, the chief financial officer owned 10,192 shares of the company's stock, valued at approximately $460,780.32. This trade represents a 67.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,230 shares of company stock valued at $5,288,364. 0.37% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Fastenal from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, September 4th. Northcoast Research started coverage on Fastenal in a research report on Thursday, August 21st. They set a "neutral" rating on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Fastenal in a research report on Saturday, September 27th. Baird R W upgraded Fastenal from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Finally, Morgan Stanley set a $40.00 target price on Fastenal and gave the stock an "equal weight" rating in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $47.25.

About Fastenal

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.

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