Plancorp LLC raised its holdings in Fastenal Company (NASDAQ:FAST - Free Report) by 102.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,405 shares of the company's stock after buying an additional 5,254 shares during the quarter. Plancorp LLC's holdings in Fastenal were worth $437,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Fastenal by 8.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company's stock valued at $1,753,864,000 after purchasing an additional 1,850,871 shares in the last quarter. Picton Mahoney Asset Management increased its position in shares of Fastenal by 7.5% in the 1st quarter. Picton Mahoney Asset Management now owns 181,482 shares of the company's stock valued at $14,074,000 after acquiring an additional 12,721 shares during the period. KLP Kapitalforvaltning AS raised its stake in Fastenal by 3.9% in the 1st quarter. KLP Kapitalforvaltning AS now owns 195,748 shares of the company's stock worth $15,180,000 after acquiring an additional 7,400 shares during the last quarter. Raiffeisen Bank International AG grew its stake in Fastenal by 21.5% during the 1st quarter. Raiffeisen Bank International AG now owns 35,606 shares of the company's stock valued at $2,712,000 after purchasing an additional 6,303 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Fastenal by 23.9% in the first quarter. Deutsche Bank AG now owns 2,459,124 shares of the company's stock valued at $190,705,000 after purchasing an additional 473,987 shares during the period. Hedge funds and other institutional investors own 81.38% of the company's stock.
Fastenal Trading Up 0.7%
Shares of FAST stock opened at $47.85 on Friday. The firm has a market capitalization of $54.91 billion, a P/E ratio of 46.01, a PEG ratio of 4.32 and a beta of 0.97. Fastenal Company has a fifty-two week low of $34.69 and a fifty-two week high of $50.63. The stock's fifty day moving average is $48.02 and its two-hundred day moving average is $43.12. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.12 and a current ratio of 4.22.
Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings data on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. The company had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter in the prior year, the company earned $0.25 EPS. Fastenal's revenue was up 8.6% compared to the same quarter last year. Research analysts expect that Fastenal Company will post 2.15 earnings per share for the current fiscal year.
Fastenal Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, July 29th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, July 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.8%. Fastenal's payout ratio is 84.62%.
Analyst Upgrades and Downgrades
A number of research firms recently commented on FAST. Robert W. Baird raised Fastenal from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $47.00 to $55.00 in a report on Thursday, August 7th. Northcoast Research assumed coverage on shares of Fastenal in a report on Thursday, August 21st. They set a "neutral" rating for the company. Stifel Nicolaus set a $82.00 price objective on Fastenal in a report on Thursday, July 3rd. JPMorgan Chase & Co. raised their target price on Fastenal from $41.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday, September 4th. Finally, Morgan Stanley set a $40.00 price target on Fastenal and gave the company an "equal weight" rating in a report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $46.82.
Get Our Latest Research Report on Fastenal
Insider Buying and Selling
In other Fastenal news, insider Jeffery Michael Watts sold 48,724 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $48.05, for a total value of $2,341,188.20. Following the completion of the sale, the insider directly owned 11,880 shares in the company, valued at $570,834. This represents a 80.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Lewis Soderberg sold 34,612 shares of Fastenal 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 disclosure for this sale can be found here. Insiders have sold 111,230 shares of company stock valued at $5,288,364 in the last quarter. Corporate insiders own 0.37% of the company's stock.
Fastenal Profile
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Free Report)
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.
Further Reading
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