Mather Group LLC. Boosts Stake in Fastenal (NASDAQ:FAST)

Mather Group LLC. grew its position in Fastenal (NASDAQ:FAST) by 32.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,115 shares of the company’s stock after purchasing an additional 1,018 shares during the period. Mather Group LLC.’s holdings in Fastenal were worth $259,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in Fastenal during the 4th quarter valued at $13,204,000. Allworth Financial LP increased its stake in Fastenal by 11.0% during the fourth quarter. Allworth Financial LP now owns 2,115 shares of the company’s stock valued at $137,000 after purchasing an additional 210 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Fastenal by 1.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 181,100 shares of the company’s stock worth $11,730,000 after acquiring an additional 3,300 shares during the period. Meeder Advisory Services Inc. lifted its holdings in shares of Fastenal by 10.3% in the 4th quarter. Meeder Advisory Services Inc. now owns 9,837 shares of the company’s stock worth $637,000 after purchasing an additional 922 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in Fastenal by 6.1% in the fourth quarter. Bleakley Financial Group LLC now owns 8,014 shares of the company’s stock valued at $519,000 after buying an additional 458 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

NASDAQ:FAST traded up $0.54 during mid-day trading on Wednesday, reaching $66.11. 555,204 shares of the stock were exchanged, compared to its average volume of 3,682,646. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average price of $65.54 and a 200 day moving average price of $69.09. Fastenal has a 1-year low of $53.83 and a 1-year high of $79.04. The firm has a market capitalization of $37.85 billion, a PE ratio of 32.62, a PEG ratio of 3.65 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the company posted $0.52 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. Research analysts expect that Fastenal will post 2.05 earnings per share for the current fiscal year.

Fastenal Announces Dividend

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. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.36%. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Insider Transactions at Fastenal

In other Fastenal news, EVP James C. Jansen sold 11,428 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total transaction of $732,191.96. Following the completion of the sale, the executive vice president now directly 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 Securities & Exchange Commission, which is available through this link. In other Fastenal news, Director Hsenghung Sam Hsu bought 500 shares of Fastenal stock in a transaction dated Monday, June 10th. The stock was bought at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the acquisition, the director now directly owns 3,500 shares of the company’s stock, valued at $221,480. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James C. Jansen sold 11,428 shares of Fastenal 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 transaction, the executive vice president now owns 26,176 shares in the company, valued at approximately $1,677,096.32. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Loop Capital cut their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Stifel Nicolaus restated a “buy” rating and issued a $80.00 target price (down from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Robert W. Baird reduced their price target on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Stephens reissued an “equal weight” rating and issued a $56.00 price target on shares of Fastenal in a research note on Monday, July 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 report on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.67.

About Fastenal

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.