Osmosis Investment Management UK Ltd Purchases Shares of 218,345 Fastenal Company $FAST

Key Points

• Osmosis Investment Management acquired 218,345 Fastenal shares during the second quarter, valued at approximately $10.5 million. Institutional investors collectively own 81.38% of the company.
• Fastenal reported quarterly EPS of $0.33, in line with estimates, while revenue of $2.39 billion exceeded forecasts and increased 14.7% year over year.
• The company raised its quarterly dividend from $0.24 to $0.26 per share, equivalent to a 2.0% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $49.17.

Osmosis Investment Management UK Ltd acquired a new position in Fastenal Company (NASDAQ:FAST - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 218,345 shares of the company's stock, valued at approximately $10,487,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Fastenal in the 2nd quarter valued at $26,000. Evergreen Advisors LLC purchased a new position in shares of Fastenal in the first quarter valued at approximately $26,000. Palladiem LLC purchased a new position in shares of Fastenal in the fourth quarter valued at approximately $25,000. Elyxium Wealth LLC acquired a new position in shares of Fastenal in the fourth quarter valued at approximately $25,000. Finally, MV Capital Management Inc. purchased a new stake in Fastenal during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 81.38% of the company's stock.

Fastenal Stock Performance

NASDAQ:FAST opened at $51.26 on Monday. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $52.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21. The firm has a market capitalization of $58.82 billion, a PE ratio of 43.44, a price-to-earnings-growth ratio of 3.20 and a beta of 0.72. The business's fifty day moving average price is $47.96 and its 200 day moving average price is $46.38.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.33. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.Fastenal's revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 EPS. On average, sell-side analysts anticipate that Fastenal Company will post 1.26 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be given a dividend of $0.26 per share. This is a boost from Fastenal's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. Fastenal's dividend payout ratio is 88.14%.

Insider Activity at Fastenal

In related news, Director Rita J. Heise sold 34,964 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total value of $1,749,948.20. Following the completion of the transaction, the director directly owned 20,000 shares of the company's stock, valued at $1,001,000. This represents a 63.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael J. Ancius sold 3,000 shares of the stock in a transaction that occurred 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 owned 58,690 shares in the company, valued at $2,875,810. This 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 insiders.

Analyst Upgrades and Downgrades

FAST has been the subject of several analyst reports. Morgan Stanley boosted their target price on Fastenal from $48.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 16th. DA Davidson restated a "neutral" rating and set a $46.00 target price on shares of Fastenal in a research note on Wednesday, July 15th. Barclays cut their target price on shares of Fastenal from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 16th. Rothschild & Co Redburn set a $55.00 price target on shares of Fastenal and gave the stock a "buy" rating in a research note on Monday, July 13th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Fastenal in a research note on Thursday, June 4th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $49.17.

About Fastenal

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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