Flputnam Investment Management Co. Has $3.65 Million Holdings in Fastenal Company $FAST

Flputnam Investment Management Co. raised its holdings in Fastenal Company (NASDAQ:FAST - Free Report) by 797.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,974 shares of the company's stock after acquiring an additional 67,510 shares during the period. Flputnam Investment Management Co.'s holdings in Fastenal were worth $3,649,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Fastenal during the 2nd quarter valued at approximately $5,105,454,000. Bank of New York Mellon Corp bought a new position in Fastenal in the 2nd quarter valued at approximately $859,310,000. Norges Bank acquired a new stake in Fastenal in the fourth quarter valued at approximately $646,046,000. Wellington Management Group LLP boosted its position in Fastenal by 243.5% in the fourth quarter. Wellington Management Group LLP now owns 12,095,194 shares of the company's stock valued at $485,380,000 after buying an additional 8,574,208 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Fastenal during the second quarter worth $410,919,000. Institutional investors and hedge funds own 81.38% of the company's stock.

Insider Buying and Selling

In other Fastenal news, Director Rita J. Heise sold 34,964 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total transaction of $1,749,948.20. Following the transaction, the director owned 20,000 shares in the company, valued at approximately $1,001,000. This represents a 63.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Ancius sold 3,000 shares of the firm's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the completion of the transaction, the director directly owned 58,690 shares in the company, valued at $2,875,810. This trade represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.28% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FAST. Morgan Stanley raised their price objective on Fastenal from $48.00 to $52.00 and gave the company an "equal weight" rating in a report on Thursday, July 16th. Jefferies Financial Group reiterated a "buy" rating on shares of Fastenal in a research report on Thursday, June 4th. DA Davidson reissued a "neutral" rating and set a $46.00 price target on shares of Fastenal in a research note on Wednesday, July 15th. Rothschild & Co Redburn set a $55.00 price target on Fastenal and gave the stock a "buy" rating in a report on Monday, July 13th. Finally, Robert W. Baird set a $54.00 price objective on Fastenal in a research note on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $49.17.

Fastenal Price Performance

FAST stock opened at $49.78 on Monday. The stock has a market capitalization of $57.12 billion, a PE ratio of 42.19, a price-to-earnings-growth ratio of 3.11 and a beta of 0.72. The company's 50-day moving average is $48.45 and its 200-day moving average is $46.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $52.92.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its earnings results on Tuesday, July 14th. The company reported $0.33 EPS for the quarter, meeting analysts' consensus estimates of $0.33. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The firm's revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 EPS. Equities research analysts expect 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 was paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th were issued a dividend of $0.26 per share. This is a positive change from Fastenal's previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, July 28th. Fastenal's dividend payout ratio is presently 88.14%.

Fastenal Profile

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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