Fastenal (NASDAQ:FAST) Shares Acquired by Pensionfund Sabic

Pensionfund Sabic grew its holdings in Fastenal (NASDAQ:FAST) by 100.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,000 shares of the company’s stock after purchasing an additional 25,500 shares during the period. Pensionfund Sabic’s holdings in Fastenal were worth $1,662,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Securian Asset Management Inc lifted its stake in shares of Fastenal by 0.5% in the 1st quarter. Securian Asset Management Inc now owns 29,785 shares of the company’s stock valued at $1,915,000 after purchasing an additional 150 shares during the period. Old North State Trust LLC raised its position in shares of Fastenal by 20.6% in the 1st quarter. Old North State Trust LLC now owns 966 shares of the company’s stock valued at $62,000 after purchasing an additional 165 shares during the last quarter. Park National Corp OH raised its position in shares of Fastenal by 2.9% in the 1st quarter. Park National Corp OH now owns 5,850 shares of the company’s stock valued at $376,000 after purchasing an additional 167 shares during the last quarter. Cetera Advisors LLC raised its position in shares of Fastenal by 2.7% in the 4th quarter. Cetera Advisors LLC now owns 8,123 shares of the company’s stock valued at $425,000 after purchasing an additional 213 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Fastenal by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 12,572 shares of the company’s stock valued at $657,000 after purchasing an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

In other news, CEO Daniel L. Florness sold 20,000 shares of Fastenal stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $70.75, for a total transaction of $1,415,000.00. Following the transaction, the chief executive officer now directly owns 109,845 shares in the company, valued at approximately $7,771,533.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Lewis Soderberg sold 30,000 shares of Fastenal stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $70.62, for a total value of $2,118,600.00. Following the transaction, the insider now owns 30,000 shares in the company, valued at $2,118,600. The disclosure for this sale can be found here. In the last three months, insiders sold 108,541 shares of company stock worth $7,611,453. Company insiders own 0.62% of the company’s stock.

Several analysts have recently issued reports on the company. Wells Fargo & Co set a $29.00 price objective on Establishment Labs and gave the company a “buy” rating in a research report on Friday, July 12th. BidaskClub cut Westport Fuel Systems from a “buy” rating to a “hold” rating in a research report on Friday. Raymond James set a $19.00 price target on Patterson-UTI Energy and gave the company a “buy” rating in a research report on Friday, July 12th. Morgan Stanley set a $207.00 price target on Alibaba Group and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, William Blair reiterated a “market perform” rating on shares of Luminex in a research report on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Fastenal has a consensus rating of “Hold” and a consensus target price of $31.31.

Shares of Fastenal stock traded up $1.05 during midday trading on Tuesday, hitting $31.69. The company had a trading volume of 3,843,678 shares, compared to its average volume of 4,744,110. The stock has a market capitalization of $18.17 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.25. The company has a current ratio of 4.68, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average price of $31.78. Fastenal has a 12-month low of $24.00 and a 12-month high of $35.94.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, July 11th. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.01). The company had revenue of $1.37 billion during 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 business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 earnings per share. As a group, sell-side analysts anticipate that Fastenal will post 1.38 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, July 25th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Wednesday, July 24th. Fastenal’s dividend payout ratio (DPR) is 65.15%.

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.

Further Reading: Cost of Debt

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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