Russell Investments Group Ltd. Has $4.35 Million Stake in Fastenal (NASDAQ:FAST)

Share on StockTwits

Russell Investments Group Ltd. increased its stake in shares of Fastenal (NASDAQ:FAST) by 111.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 134,063 shares of the company’s stock after acquiring an additional 70,518 shares during the period. Russell Investments Group Ltd.’s holdings in Fastenal were worth $4,348,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farmers & Merchants Investments Inc. increased its holdings in shares of Fastenal by 94.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 774 shares of the company’s stock valued at $25,000 after acquiring an additional 375 shares during the last quarter. Advisors Preferred LLC bought a new stake in Fastenal during the 2nd quarter valued at approximately $26,000. Wealthcare Advisory Partners LLC boosted its stake in Fastenal by 101.2% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 843 shares of the company’s stock valued at $27,000 after purchasing an additional 424 shares during the period. Clarus Wealth Advisors boosted its stake in Fastenal by 101.2% during the 2nd quarter. Clarus Wealth Advisors now owns 845 shares of the company’s stock valued at $28,000 after purchasing an additional 425 shares during the period. Finally, FTB Advisors Inc. bought a new stake in Fastenal during the 2nd quarter valued at approximately $29,000. 84.90% of the stock is currently owned by institutional investors and hedge funds.

Shares of FAST stock traded up $0.01 during mid-day trading on Friday, reaching $33.64. The stock had a trading volume of 3,195,990 shares, compared to its average volume of 3,368,893. The firm’s 50 day simple moving average is $30.48 and its 200 day simple moving average is $46.12. The company has a quick ratio of 2.13, a current ratio of 4.68 and a debt-to-equity ratio of 0.25. Fastenal has a one year low of $24.00 and a one year high of $35.94. The firm has a market cap of $19.28 billion, a PE ratio of 25.48, a P/E/G ratio of 1.53 and a beta of 1.23.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, July 11th. The company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.01). Fastenal had a return on equity of 32.27% and a net margin of 14.74%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the business posted $0.37 EPS. Fastenal’s revenue was up 7.9% compared to the same quarter last year. Sell-side analysts forecast that Fastenal will post 1.37 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, July 25th were given a $0.22 dividend. The ex-dividend date was Wednesday, July 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.62%. Fastenal’s dividend payout ratio is currently 66.67%.

In other news, Director Michael J. Ancius acquired 1,000 shares of Fastenal stock in a transaction on Monday, August 5th. The stock was bought at an average price of $28.99 per share, for a total transaction of $28,990.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sheryl Ann Lisowski sold 5,615 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $33.50, for a total value of $188,102.50. Following the completion of the sale, the chief accounting officer now owns 10,382 shares of the company’s stock, valued at approximately $347,797. The disclosure for this sale can be found here. Insiders acquired a total of 4,604 shares of company stock valued at $138,479 in the last quarter. Corporate insiders own 0.56% of the company’s stock.

Several brokerages recently weighed in on FAST. Wells Fargo & Co decreased their target price on Fastenal from $35.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, July 12th. Raymond James decreased their target price on Fastenal from $39.00 to $37.00 and set a “strong-buy” rating for the company in a research note on Friday, July 12th. Buckingham Research decreased their target price on Fastenal from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. ValuEngine downgraded Fastenal from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 23rd. Finally, Zacks Investment Research upgraded Fastenal from a “sell” rating to a “hold” rating and set a $34.00 target price for the company in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $31.50.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

Featured Article: Dead Cat Bounce

Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal (NASDAQ:FAST).

Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.