Susquehanna Fundamental Investments LLC trimmed its holdings in shares of Fastenal Company (NASDAQ:FAST - Free Report) by 20.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 870,019 shares of the company's stock after selling 226,975 shares during the period. Fastenal accounts for about 0.8% of Susquehanna Fundamental Investments LLC's holdings, making the stock its 29th largest holding. Susquehanna Fundamental Investments LLC owned about 0.08% of Fastenal worth $41,787,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in FAST. BlackRock Inc. purchased a new stake in Fastenal during the second quarter worth approximately $5,105,454,000. State Street Corp increased its stake in Fastenal by 1.2% in the fourth quarter. State Street Corp now owns 54,734,674 shares of the company's stock valued at $2,196,502,000 after purchasing an additional 631,889 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Fastenal by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 47,297,047 shares of the company's stock valued at $1,898,031,000 after purchasing an additional 919,158 shares during the last quarter. Geode Capital Management LLC increased its stake in Fastenal by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 37,699,836 shares of the company's stock valued at $1,508,216,000 after purchasing an additional 685,047 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Fastenal by 14.0% during the third quarter. Invesco Ltd. now owns 18,215,875 shares of the company's stock worth $893,307,000 after purchasing an additional 2,242,116 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Fastenal news, Director Rita J. Heise sold 34,964 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 20,000 shares of the company's stock, valued at approximately $1,001,000. This trade represents a 63.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Ancius sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total value of $147,000.00. Following the completion of the transaction, the director directly owned 58,690 shares in the company, valued at approximately $2,875,810. The trade was a 4.86% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.28% of the stock is currently owned by company insiders.
Fastenal Stock Performance
Shares of Fastenal stock opened at $49.78 on Monday. The firm's fifty day simple moving average is $48.45 and its 200-day simple moving average is $46.50. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $52.92. The stock has a market capitalization of $57.12 billion, a price-to-earnings ratio of 42.19, a PEG ratio of 3.11 and a beta of 0.72. 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 (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, hitting analysts' consensus estimates of $0.33. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The firm had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.34 billion. During the same quarter in the prior year, the business earned $0.29 EPS. Fastenal's quarterly revenue was up 14.7% compared to the same quarter last year. As a group, equities analysts forecast that Fastenal Company will post 1.26 earnings per share for the current year.
Fastenal Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th were paid 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 yield of 2.1%. This is a boost from Fastenal's previous quarterly dividend of $0.24. Fastenal's dividend payout ratio (DPR) is currently 88.14%.
Analyst Ratings Changes
FAST has been the subject of several research analyst reports. Rothschild & Co Redburn set a $55.00 target price on shares of Fastenal and gave the company a "buy" rating in a report on Monday, July 13th. Robert W. Baird set a $54.00 price target on shares of Fastenal in a research report on Friday, August 7th. Sanford C. Bernstein restated an "underperform" rating on shares of Fastenal in a research note on Wednesday, July 15th. Wolfe Research reaffirmed an "underperform" rating and set a $47.00 price objective on shares of Fastenal in a report on Thursday, July 9th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Fastenal in a research report on Thursday, June 4th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $49.17.
Check Out Our Latest Stock Report on FAST
About Fastenal
(
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.
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