Groupama Asset Managment Invests $1.54 Million in Fastenal Company $FAST

Groupama Asset Managment acquired a new position in Fastenal Company (NASDAQ:FAST) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 31,346 shares of the company’s stock, valued at approximately $1,537,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its holdings in Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after buying an additional 147 shares during the period. Sowell Financial Services LLC increased its stake in shares of Fastenal by 4.7% in the third quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock valued at $260,000 after buying an additional 238 shares during the period. L2 Asset Management LLC raised its position in shares of Fastenal by 4.8% during the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock worth $264,000 after acquiring an additional 248 shares during the last quarter. Rowlandmiller & PARTNERS.ADV raised its position in shares of Fastenal by 1.7% during the third quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company’s stock worth $721,000 after acquiring an additional 250 shares during the last quarter. Finally, SOA Wealth Advisors LLC. lifted its stake in shares of Fastenal by 71.6% in the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after acquiring an additional 255 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FAST has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. Jefferies Financial Group set a $52.00 price target on shares of Fastenal and gave the stock a “buy” rating in a research report on Monday, December 15th. Morgan Stanley reaffirmed a “positive” rating and issued a $45.00 price objective on shares of Fastenal in a research note on Thursday, March 5th. Robert W. Baird increased their price objective on shares of Fastenal from $51.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Finally, Barclays lifted their target price on shares of Fastenal from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.83.

Insiders Place Their Bets

In other news, Director Scott Satterlee sold 15,964 shares of the business’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the completion of the sale, the director directly owned 50,000 shares of the company’s stock, valued at $2,209,500. The trade was a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Reyne K. Wisecup sold 36,920 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the sale, the director owned 40,000 shares in the company, valued at $1,893,600. This represents a 48.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.28% of the stock is currently owned by company insiders.

Fastenal Stock Down 1.3%

Shares of NASDAQ:FAST opened at $44.49 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63. The business’s 50 day simple moving average is $45.23 and its two-hundred day simple moving average is $44.05. The firm has a market cap of $51.09 billion, a P/E ratio of 40.45, a PEG ratio of 2.87 and a beta of 0.88.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, January 29th. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.2%. Fastenal’s dividend payout ratio is currently 87.27%.

Fastenal Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.