Hsbc Holdings PLC bought a new position in Fastenal Company (NASDAQ:FAST - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,795,323 shares of the company's stock, valued at approximately $230,169,000. Hsbc Holdings PLC owned approximately 0.42% of Fastenal as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Ancora Advisors LLC bought a new stake in shares of Fastenal in the 2nd quarter worth $66,000. Canada Pension Plan Investment Board bought a new stake in Fastenal in the 2nd quarter worth about $65,346,000. Castleark Management LLC purchased a new position in Fastenal in the 2nd quarter worth about $8,233,000. Osterweis Capital Management Inc. bought a new position in Fastenal during the 2nd quarter valued at about $123,000. Finally, Legal & General Group Plc bought a new position in Fastenal during the 2nd quarter valued at about $410,919,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently weighed in on FAST. Robert W. Baird set a $54.00 price objective on shares of Fastenal in a research report on Friday, August 7th. Rothschild & Co Redburn set a $55.00 target price on shares of Fastenal and gave the company a "buy" rating in a research note on Monday, July 13th. Morgan Stanley increased their price objective on shares of Fastenal from $48.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 16th. Barclays reduced their target price on shares of Fastenal from $47.00 to $46.00 and set an "equal weight" rating for the company in a report on Thursday, July 16th. Finally, Wolfe Research reiterated an "underperform" rating and issued a $47.00 price target on shares of Fastenal in a research report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Fastenal currently has a consensus rating of "Hold" and an average price target of $49.17.
Read Our Latest Report on Fastenal
Insider Activity at Fastenal
In related news, Director Michael J. Ancius sold 3,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the sale, the director owned 58,690 shares in the company, valued at approximately $2,875,810. This represents a 4.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rita J. Heise sold 34,964 shares of Fastenal stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total transaction of $1,749,948.20. Following the transaction, the director directly owned 20,000 shares of the company's stock, valued at $1,001,000. The trade was a 63.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.28% of the company's stock.
Fastenal Stock Performance
Shares of NASDAQ FAST opened at $50.31 on Wednesday. The company has a market cap of $57.73 billion, a P/E ratio of 42.64, a P/E/G ratio of 3.20 and a beta of 0.72. Fastenal Company has a 52-week low of $38.97 and a 52-week high of $52.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 4.18. The firm's fifty day moving average is $48.15 and its two-hundred day moving average is $46.43.
Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, meeting analysts' consensus estimates of $0.33. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the business posted $0.29 earnings per share. The business's quarterly revenue was up 14.7% compared to the same quarter last year. As a group, analysts anticipate that Fastenal Company will post 1.26 EPS for the current fiscal year.
Fastenal Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, July 28th. This represents a $1.04 annualized dividend and a dividend yield of 2.1%. This is an increase from Fastenal's previous quarterly dividend of $0.24. Fastenal's dividend payout ratio is presently 88.14%.
Fastenal Profile
(
Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Fastenal, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fastenal wasn't on the list.
While Fastenal currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of the 7 hottest IPOs expected to hit Wall Street in 2026. See which companies are preparing to go public and why investors are watching closely.
Get This Free Report
