Groupama Asset Managment Has $294,000 Position in Fastenal Company $FAST

Groupama Asset Managment cut its holdings in shares of Fastenal Company (NASDAQ:FAST) by 77.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,344 shares of the company’s stock after selling 22,056 shares during the period. Groupama Asset Managment’s holdings in Fastenal were worth $294,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its holdings in shares of Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after acquiring an additional 147 shares in the last quarter. Tandem Investment Advisors Inc. increased its stake in shares of Fastenal by 1.8% in the first quarter. Tandem Investment Advisors Inc. now owns 12,356 shares of the company’s stock worth $573,000 after purchasing an additional 224 shares in the last quarter. Sittner & Nelson LLC raised its holdings in Fastenal by 0.3% during the 4th quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock valued at $2,749,000 after acquiring an additional 226 shares during the period. Founders Capital Management LLC boosted its stake in Fastenal by 2.2% in the 4th quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock worth $418,000 after purchasing an additional 228 shares during the period. Finally, Sound Income Strategies LLC boosted its position in shares of Fastenal by 12.9% in the first quarter. Sound Income Strategies LLC now owns 2,025 shares of the company’s stock valued at $94,000 after acquiring an additional 232 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Bank of America raised their price target on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Morgan Stanley upped their price target on shares of Fastenal from $48.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a report on Wednesday, July 15th. Jefferies Financial Group restated a “buy” rating on shares of Fastenal in a report on Thursday, June 4th. Finally, Rothschild & Co Redburn set a $55.00 target price on shares of Fastenal and gave the stock a “buy” rating in a research report on Monday, July 13th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and a consensus price target of $48.83.

Insider Activity

In other news, Director Michael J. Ancius sold 3,000 shares of Fastenal stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total value of $147,000.00. Following the completion of the sale, the director directly owned 58,690 shares in the company, valued at $2,875,810. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.28% of the stock is currently owned by insiders.

Fastenal Stock Performance

Fastenal stock opened at $47.71 on Monday. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The company has a quick ratio of 2.21, a current ratio of 4.18 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $46.31 and its 200 day moving average is $45.60. The company has a market capitalization of $54.75 billion, a P/E ratio of 40.43, a PEG ratio of 2.99 and a beta of 0.72.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.33. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.Fastenal’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. On average, equities research analysts predict that Fastenal Company will post 1.25 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.2%. This is a boost from Fastenal’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, July 28th. Fastenal’s payout ratio is 88.14%.

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.