Fastenal (NASDAQ:FAST) Shares Acquired by PGGM Investments

PGGM Investments lifted its holdings in shares of Fastenal (NASDAQ:FAST) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 240,521 shares of the company’s stock after buying an additional 433 shares during the period. PGGM Investments’ holdings in Fastenal were worth $15,579,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hartford Financial Management Inc. lifted its position in Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after purchasing an additional 153 shares during the period. Empirical Asset Management LLC lifted its position in Fastenal by 2.4% in the fourth quarter. Empirical Asset Management LLC now owns 7,212 shares of the company’s stock worth $467,000 after purchasing an additional 171 shares during the period. Berkshire Bank lifted its position in Fastenal by 3.1% in the third quarter. Berkshire Bank now owns 5,777 shares of the company’s stock worth $316,000 after purchasing an additional 174 shares during the period. OmniStar Financial Group Inc. lifted its position in Fastenal by 1.1% in the third quarter. OmniStar Financial Group Inc. now owns 15,960 shares of the company’s stock worth $873,000 after purchasing an additional 174 shares during the period. Finally, Koshinski Asset Management Inc. lifted its position in Fastenal by 3.8% in the fourth quarter. Koshinski Asset Management Inc. now owns 5,075 shares of the company’s stock worth $329,000 after purchasing an additional 186 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fastenal news, Director Daniel L. Johnson acquired 3,350 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was purchased at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the acquisition, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel L. Johnson purchased 3,350 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were purchased at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the acquisition, the director now directly owns 10,595 shares of the company’s stock, valued at $724,486.10. The disclosure for this purchase can be found here. Over the last three months, insiders sold 36,082 shares of company stock worth $2,584,060. Corporate insiders own 0.41% of the company’s stock.

Fastenal Stock Up 0.0 %

Shares of Fastenal stock traded up $0.03 on Friday, hitting $68.17. 2,802,015 shares of the company traded hands, compared to its average volume of 4,004,192. The company has a 50-day moving average price of $73.41 and a 200 day moving average price of $66.80. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. Fastenal has a 12-month low of $52.66 and a 12-month high of $79.04. The company has a market cap of $39.03 billion, a PE ratio of 33.75, a PEG ratio of 3.57 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 earnings per share. Sell-side analysts predict that Fastenal will post 2.12 earnings per share for the current year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Wednesday, April 24th. Fastenal’s dividend payout ratio is presently 77.23%.

Wall Street Analyst Weigh In

FAST has been the subject of a number of research analyst reports. HSBC upped their target price on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Loop Capital dropped their price target on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Robert W. Baird dropped their price target on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, Stifel Nicolaus upped their price target on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $67.67.

Fastenal Profile

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.