North Dakota State Investment Board Invests $1.58 Million in Fastenal Company $FAST

North Dakota State Investment Board acquired a new position in Fastenal Company (NASDAQ:FAST) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 39,369 shares of the company’s stock, valued at approximately $1,580,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of FAST. Elyxium Wealth LLC bought a new position in Fastenal during the fourth quarter valued at approximately $25,000. REAP Financial Group LLC bought a new position in Fastenal during the 3rd quarter valued at about $30,000. Field & Main Bank bought a new position in Fastenal during the 4th quarter valued at about $30,000. Tradewinds Capital Management LLC bought a new position in Fastenal during the 4th quarter valued at about $35,000. Finally, N.E.W. Advisory Services LLC grew its holdings in Fastenal by 101.2% during the 4th quarter. N.E.W. Advisory Services LLC now owns 871 shares of the company’s stock valued at $35,000 after purchasing an additional 438 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on FAST. Robert W. Baird cut their price target on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Benchmark restated a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a research note on Friday, March 27th. JPMorgan Chase & Co. upped their target price on shares of Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Finally, Barclays upped their target price on shares of Fastenal from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Fastenal has an average rating of “Hold” and an average target price of $49.77.

Insider Buying and Selling at Fastenal

In other news, Director Reyne K. Wisecup sold 36,920 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total value of $1,747,792.80. Following the completion of the sale, the director owned 40,000 shares of the company’s stock, valued at approximately $1,893,600. This represents a 48.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.28% of the company’s stock.

Fastenal Price Performance

Shares of FAST opened at $43.57 on Wednesday. The company has a 50 day moving average price of $45.23 and a 200-day moving average price of $43.68. Fastenal Company has a fifty-two week low of $38.97 and a fifty-two week high of $50.63. The stock has a market capitalization of $50.02 billion, a PE ratio of 38.22, a PEG ratio of 2.80 and a beta of 0.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the company earned $0.52 EPS. The company’s revenue was up 12.4% compared to the same quarter last year. Equities analysts predict that Fastenal Company will post 1.23 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, April 28th. Fastenal’s dividend payout ratio is presently 84.21%.

Fastenal Company 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.