Vident Advisory LLC Buys 11,352 Shares of Fastenal Company $FAST

Key Points

• Vident Advisory LLC increased its stake in Fastenal Company by 8.9% to own 139,090 shares, valued at approximately $10.79 million.
• Insider transactions show significant sales, with CFO Sheryl Ann Lisowski selling 21,052 shares and EVP John Lewis Soderberg selling 34,612 shares in recent months, indicating a 67.38% decrease in ownership for Lisowski.
• A range of analysts have varying ratings on Fastenal stock, with a consensus rating of "Hold" and a price target of $46.36, while estimates for the current fiscal year's earnings per share are forecasted to be $2.15.

Vident Advisory LLC increased its position in Fastenal Company (NASDAQ:FAST - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,090 shares of the company's stock after buying an additional 11,352 shares during the quarter. Vident Advisory LLC's holdings in Fastenal were worth $10,787,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FAST. Brighton Jones LLC acquired a new position in Fastenal in the 4th quarter worth about $496,000. Integrated Wealth Concepts LLC grew its holdings in Fastenal by 6.9% in the 4th quarter. Integrated Wealth Concepts LLC now owns 6,129 shares of the company's stock valued at $441,000 after buying an additional 394 shares during the last quarter. AQR Capital Management LLC grew its holdings in Fastenal by 87.2% in the 4th quarter. AQR Capital Management LLC now owns 774,117 shares of the company's stock valued at $55,667,000 after buying an additional 360,697 shares during the last quarter. Itau Unibanco Holding S.A. grew its holdings in Fastenal by 481.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 611 shares of the company's stock valued at $44,000 after buying an additional 506 shares during the last quarter. Finally, Wahed Invest LLC lifted its position in shares of Fastenal by 3.6% in the 4th quarter. Wahed Invest LLC now owns 14,405 shares of the company's stock worth $1,036,000 after acquiring an additional 506 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fastenal

In other news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffery Michael Watts sold 48,724 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $48.05, for a total value of $2,341,188.20. Following the completion of the transaction, the insider owned 11,880 shares of the company's stock, valued at $570,834. The trade was a 80.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,230 shares of company stock valued at $5,288,364 over the last quarter. 0.37% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FAST shares. JPMorgan Chase & Co. raised their target price on Fastenal from $41.00 to $46.00 and gave the stock a "neutral" rating in a research report on Thursday. Northcoast Research assumed coverage on Fastenal in a research report on Thursday, August 21st. They set a "neutral" rating for the company. Baird R W raised Fastenal from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Loop Capital reaffirmed a "hold" rating on shares of Fastenal in a research note on Tuesday, July 15th. Finally, Wolfe Research reissued a "positive" rating on shares of Fastenal in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Fastenal has a consensus rating of "Hold" and an average price target of $46.82.

Fastenal Price Performance

NASDAQ FAST traded up $0.57 on Thursday, hitting $50.09. 2,021,406 shares of the company's stock were exchanged, compared to its average volume of 6,502,930. The stock has a 50-day moving average of $46.60 and a 200-day moving average of $42.02. The company has a current ratio of 4.22, a quick ratio of 2.12 and a debt-to-equity ratio of 0.03. Fastenal Company has a 52 week low of $32.04 and a 52 week high of $50.63. The stock has a market cap of $57.48 billion, a price-to-earnings ratio of 48.15, a P/E/G ratio of 4.52 and a beta of 0.97.

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

Fastenal Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, July 29th were paid 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 is presently 84.62%.

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.