Fastenal (NASDAQ:FAST) Shares Purchased by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc grew its stake in Fastenal (NASDAQ:FAST) by 14.3% in the second quarter, Holdings Channel.com reports. The firm owned 1,082,002 shares of the company’s stock after acquiring an additional 135,480 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Fastenal were worth $67,993,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Nomura Holdings Inc. purchased a new stake in Fastenal in the 4th quarter valued at $747,000. Focus Financial Network Inc. ADV purchased a new stake in shares of Fastenal in the fourth quarter valued at about $1,282,000. Clear Rock Advisors LLC acquired a new stake in Fastenal during the fourth quarter worth about $2,936,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in Fastenal by 98.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 118,301 shares of the company’s stock worth $9,126,000 after purchasing an additional 58,726 shares during the period. Finally, Virtu Financial LLC acquired a new position in Fastenal in the 4th quarter valued at about $1,078,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of Fastenal stock opened at $70.75 on Friday. The stock has a market capitalization of $40.51 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 3.78 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. The business has a 50-day moving average of $68.05 and a 200 day moving average of $68.45. Fastenal has a 12 month low of $53.83 and a 12 month high of $79.04.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results 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 business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The business’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were issued a dividend of $0.39 per share. The ex-dividend date was Friday, July 26th. This represents a $1.56 annualized dividend and a yield of 2.20%. Fastenal’s dividend payout ratio (DPR) is 77.61%.

Analysts Set New Price Targets

Several research firms have recently commented on FAST. Stephens reaffirmed an “equal weight” rating and set a $56.00 price target on shares of Fastenal in a research report on Monday, July 15th. Jefferies Financial Group reduced their target price on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Stifel Nicolaus reiterated a “buy” rating and set a $80.00 price target (down from $85.00) on shares of Fastenal in a report on Monday, July 15th. Finally, Morgan Stanley began coverage on Fastenal in a research report on Friday, September 6th. They set an “equal weight” rating and a $72.00 price objective for the company. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $67.43.

Insider Buying and Selling at Fastenal

In other news, CEO Daniel L. Florness sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,929,734.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,929,734.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the sale, the chief executive officer now owns 286,018 shares in the company, valued at $19,489,266.52. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

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.