National Pension Service Increases Position in Fastenal (NASDAQ:FAST)

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National Pension Service grew its stake in Fastenal (NASDAQ:FAST) by 110.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 788,783 shares of the company’s stock after acquiring an additional 413,273 shares during the quarter. National Pension Service’s holdings in Fastenal were worth $25,706,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FAST. Boston Research & Management Inc. grew its stake in Fastenal by 97.3% during the 2nd quarter. Boston Research & Management Inc. now owns 163,726 shares of the company’s stock worth $5,335,000 after buying an additional 80,748 shares during the last quarter. Flagship Harbor Advisors LLC grew its stake in Fastenal by 176.8% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,362 shares of the company’s stock worth $44,000 after buying an additional 870 shares during the last quarter. DAVENPORT & Co LLC grew its stake in Fastenal by 90.0% during the 2nd quarter. DAVENPORT & Co LLC now owns 22,916 shares of the company’s stock worth $747,000 after buying an additional 10,858 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in Fastenal by 108.2% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 172,826 shares of the company’s stock worth $5,632,000 after buying an additional 89,812 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in Fastenal by 131.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,910 shares of the company’s stock worth $193,000 after buying an additional 3,355 shares during the last quarter. Institutional investors and hedge funds own 83.85% of the company’s stock.

Several research analysts recently weighed in on the company. Zacks Investment Research upgraded Fastenal from a “sell” rating to a “hold” rating and set a $34.00 target price on the stock in a research note on Tuesday, September 10th. Morgan Stanley dropped their target price on Fastenal from $31.50 to $29.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Raymond James dropped their price target on Fastenal from $39.00 to $37.00 and set a “strong-buy” rating on the stock in a research note on Friday, July 12th. Buckingham Research boosted their price target on Fastenal from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, ValuEngine downgraded Fastenal from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $31.64.

Fastenal stock traded down $0.17 during trading hours on Thursday, hitting $32.70. 139,060 shares of the stock traded hands, compared to its average volume of 3,439,954. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.68 and a quick ratio of 2.13. The firm’s 50 day moving average price is $30.66 and its 200-day moving average price is $45.38. The stock has a market capitalization of $19.19 billion, a price-to-earnings ratio of 24.77, a P/E/G ratio of 1.52 and a beta of 1.23. Fastenal has a 1 year low of $24.00 and a 1 year high of $35.94.

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

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, July 25th were paid a dividend of $0.22 per share. The ex-dividend date was Wednesday, July 24th. This represents a $0.88 annualized dividend and a yield of 2.69%. Fastenal’s payout ratio is presently 66.67%.

In other news, CAO Sheryl Ann Lisowski sold 5,615 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 10,382 shares of the company’s stock, valued at approximately $347,797. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel L. Johnson acquired 2,500 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $30.49 per share, with a total value of $76,225.00. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 4,604 shares of company stock worth $138,479. Company insiders own 0.56% of the company’s stock.

Fastenal 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.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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