Advisors Asset Management Inc. Has $8.39 Million Stake in Fastenal (NASDAQ:FAST)

Advisors Asset Management Inc. decreased its position in shares of Fastenal (NASDAQ:FAST) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,787 shares of the company’s stock after selling 3,541 shares during the period. Advisors Asset Management Inc.’s holdings in Fastenal were worth $8,392,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Baird Financial Group Inc. raised its position in shares of Fastenal by 15.2% during the fourth quarter. Baird Financial Group Inc. now owns 7,928,209 shares of the company’s stock valued at $513,510,000 after buying an additional 1,043,529 shares during the last quarter. Norges Bank acquired a new position in shares of Fastenal during the fourth quarter valued at about $405,513,000. Envestnet Asset Management Inc. raised its position in shares of Fastenal by 2.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 4,800,534 shares of the company’s stock valued at $310,931,000 after buying an additional 109,028 shares during the last quarter. TD Asset Management Inc raised its position in shares of Fastenal by 21.2% during the first quarter. TD Asset Management Inc now owns 3,248,853 shares of the company’s stock valued at $250,617,000 after buying an additional 569,118 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of Fastenal by 46.2% during the first quarter. Los Angeles Capital Management LLC now owns 3,185,855 shares of the company’s stock valued at $245,757,000 after buying an additional 1,006,402 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In related news, Director Hsenghung Sam Hsu acquired 500 shares of the stock in a transaction dated Monday, June 10th. The stock was bought at an average price of $63.28 per share, with a total value of $31,640.00. Following the completion of the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at $221,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total value of $732,191.96. Following the completion of the transaction, the executive vice president now owns 26,176 shares of the company’s stock, valued at $1,677,096.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hsenghung Sam Hsu bought 500 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average cost of $63.28 per share, with a total value of $31,640.00. Following the transaction, the director now owns 3,500 shares of the company’s stock, valued at approximately $221,480. The disclosure for this purchase can be found here. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FAST shares. Jefferies Financial Group lowered their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Stephens reissued an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a research note on Monday, July 15th. Stifel Nicolaus reissued a “buy” rating and issued a $80.00 target price (down previously from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Loop Capital decreased their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Finally, HSBC upped their price objective on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $66.67.

Fastenal Trading Up 1.9 %

NASDAQ FAST traded up $1.31 during trading hours on Friday, hitting $70.37. The company’s stock had a trading volume of 2,997,442 shares, compared to its average volume of 3,711,951. The stock has a fifty day moving average of $65.12 and a 200 day moving average of $68.78. Fastenal has a twelve month low of $53.83 and a twelve month high of $79.04. The firm has a market capitalization of $40.30 billion, a P/E ratio of 34.76, a PEG ratio of 3.63 and a beta of 1.01. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. Fastenal’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 earnings per share. Equities research analysts forecast that Fastenal will post 2.06 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, July 26th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Friday, July 26th. Fastenal’s dividend payout ratio is 77.61%.

Fastenal Company 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.