4,859 Shares in Fastenal (NASDAQ:FAST) Purchased by Syon Capital LLC

Syon Capital LLC bought a new position in shares of Fastenal (NASDAQ:FAST) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,859 shares of the company’s stock, valued at approximately $315,000.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its holdings in Fastenal by 47.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company’s stock valued at $256,344,000 after buying an additional 1,505,936 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Fastenal by 16.5% in the 3rd quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock valued at $368,563,000 after purchasing an additional 957,091 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Fastenal by 80.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,600,206 shares of the company’s stock valued at $87,435,000 after purchasing an additional 711,265 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Fastenal by 9.3% in the 3rd quarter. Royal Bank of Canada now owns 6,651,629 shares of the company’s stock valued at $363,445,000 after purchasing an additional 568,372 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Fastenal by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company’s stock valued at $751,780,000 after purchasing an additional 423,112 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FAST. Stifel Nicolaus raised their price objective on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Robert W. Baird decreased their price target on Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Loop Capital decreased their price target on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Finally, HSBC raised their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $67.67.

Fastenal Trading Up 0.0 %

FAST opened at $68.17 on Friday. The stock’s fifty day moving average is $73.41 and its two-hundred day moving average is $66.80. The company has a market capitalization of $39.03 billion, a P/E ratio of 33.75, a PEG ratio of 3.57 and a beta of 1.05. Fastenal has a 52 week low of $52.66 and a 52 week high of $79.04. 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 (NASDAQ:FAST) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. Analysts forecast that Fastenal will post 2.12 earnings per share for the current year.

Fastenal Announces Dividend

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

Insider Activity

In other Fastenal news, EVP Anthony Paul Broersma sold 5,586 shares of Fastenal stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total transaction of $387,333.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Fastenal news, insider Jeffery Michael Watts sold 19,420 shares of Fastenal stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total transaction of $1,364,255.00. Following the completion of the sale, the insider now owns 5,940 shares of the company’s stock, valued at approximately $417,285. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Anthony Paul Broersma sold 5,586 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total value of $387,333.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,082 shares of company stock worth $2,584,060. 0.41% of the stock is currently owned by company insiders.

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.