Qube Research & Technologies Ltd Invests $318,000 in Fastenal (FAST) Stock

Qube Research & Technologies Ltd bought a new position in shares of Fastenal (NASDAQ:FAST) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,599 shares of the company’s stock, valued at approximately $318,000.

A number of other large investors have also recently made changes to their positions in the stock. DF Dent & Co. Inc. grew its position in Fastenal by 12.4% in the second quarter. DF Dent & Co. Inc. now owns 2,367,895 shares of the company’s stock worth $113,967,000 after buying an additional 262,144 shares during the last quarter. Millennium Management LLC grew its position in Fastenal by 365.1% in the second quarter. Millennium Management LLC now owns 408,595 shares of the company’s stock worth $19,666,000 after buying an additional 320,744 shares during the last quarter. Select Equity Group L.P. grew its position in Fastenal by 18.3% in the second quarter. Select Equity Group L.P. now owns 883,380 shares of the company’s stock worth $42,517,000 after buying an additional 136,446 shares during the last quarter. Banco de Sabadell S.A purchased a new position in Fastenal during the 2nd quarter worth approximately $622,000. Finally, Tower Research Capital LLC TRC purchased a new position in Fastenal during the 2nd quarter worth approximately $995,000. 85.85% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have weighed in on FAST. BidaskClub upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research report on Tuesday, August 21st. Zacks Investment Research cut shares of Fastenal from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. ValuEngine upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Northcoast Research reiterated a “buy” rating and set a $62.00 price objective on shares of Fastenal in a research report on Friday, July 27th. Finally, Stifel Nicolaus lifted their price objective on shares of Fastenal from $53.00 to $56.00 and gave the stock a “hold” rating in a research report on Friday, July 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Fastenal has an average rating of “Hold” and a consensus price target of $56.90.

Shares of NASDAQ:FAST opened at $56.68 on Tuesday. The firm has a market cap of $16.65 billion, a price-to-earnings ratio of 29.37, a P/E/G ratio of 1.62 and a beta of 0.92. Fastenal has a 12-month low of $42.51 and a 12-month high of $61.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.62 and a quick ratio of 2.57.

Fastenal (NASDAQ:FAST) last issued its earnings results on Wednesday, July 11th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.08. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. Fastenal had a net margin of 14.57% and a return on equity of 30.82%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. Equities analysts forecast that Fastenal will post 2.56 EPS for the current fiscal year.

About Fastenal

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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