Xponance Inc. Grows Holdings in Fastenal (NASDAQ:FAST)

Xponance Inc. grew its stake in shares of Fastenal (NASDAQ:FAST) by 5.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 124,238 shares of the company’s stock after buying an additional 6,134 shares during the quarter. Xponance Inc.’s holdings in Fastenal were worth $7,807,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Nomura Holdings Inc. bought a new stake in Fastenal during the fourth quarter worth about $747,000. Focus Financial Network Inc. ADV purchased a new stake in Fastenal in the fourth quarter worth approximately $1,282,000. Clear Rock Advisors LLC bought a new position in Fastenal during the fourth quarter valued at approximately $2,936,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of 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 acquiring an additional 58,726 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Fastenal in the 4th quarter worth approximately $1,078,000. 81.38% of the stock is owned by institutional investors.

Fastenal Price Performance

FAST opened at $71.83 on Tuesday. The stock’s 50 day moving average price is $68.13 and its 200-day moving average price is $68.38. Fastenal has a 52-week low of $53.94 and a 52-week high of $79.04. The stock has a market capitalization of $41.13 billion, a PE ratio of 35.74, 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 quick ratio of 2.29 and a current ratio of 4.39.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, July 12th. The company reported $0.51 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 during the quarter, compared to analyst estimates of $1.91 billion. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. On average, equities research analysts predict that Fastenal will post 2.04 EPS for the current year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.56 annualized dividend and a yield of 2.17%. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Morgan Stanley started coverage on shares of Fastenal in a research report on Friday, September 6th. They issued an “equal weight” rating and a $72.00 target price on the stock. Jefferies Financial Group lowered their target price on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Stifel Nicolaus restated a “buy” rating and set a $80.00 price target (down from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Finally, Stephens reiterated an “equal weight” rating and issued a $56.00 price objective on shares of Fastenal in a research report on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $67.43.

Insider Buying and Selling at Fastenal

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

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.