Robeco Institutional Asset Management B.V. Has $19.61 Million Stock Holdings in Fastenal (NASDAQ:FAST)

Robeco Institutional Asset Management B.V. raised its stake in Fastenal (NASDAQ:FAST) by 91.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 601,818 shares of the company’s stock after acquiring an additional 288,265 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.10% of Fastenal worth $19,613,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Comerica Securities Inc. grew its position in shares of Fastenal by 4.6% in the fourth quarter. Comerica Securities Inc. now owns 10,742 shares of the company’s stock valued at $562,000 after purchasing an additional 475 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Fastenal by 17.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,282,850 shares of the company’s stock valued at $67,081,000 after buying an additional 192,809 shares during the period. Geode Capital Management LLC lifted its stake in shares of Fastenal by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 4,165,575 shares of the company’s stock valued at $217,478,000 after buying an additional 225,481 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Fastenal by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 12,572 shares of the company’s stock valued at $657,000 after buying an additional 221 shares during the period. Finally, FMR LLC lifted its stake in shares of Fastenal by 2.5% during the fourth quarter. FMR LLC now owns 2,272,927 shares of the company’s stock valued at $118,852,000 after buying an additional 54,526 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have weighed in on FAST. BidaskClub raised shares of Fastenal from a “strong sell” rating to a “sell” rating in a research note on Friday, July 26th. Wells Fargo & Co cut their price target on shares of Fastenal from $35.00 to $30.00 and set a “market perform” rating on the stock in a research note on Friday, July 12th. Morgan Stanley cut their price target on shares of 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 cut their target price on shares of Fastenal from $39.00 to $37.00 and set a “strong-buy” rating on the stock in a research note on Friday, July 12th. Finally, William Blair downgraded shares of Fastenal from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Fastenal has an average rating of “Hold” and an average target price of $31.36.

In related news, CAO Sheryl Ann Lisowski sold 9,166 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $64.22, for a total transaction of $588,640.52. Following the completion of the sale, the chief accounting officer now directly owns 9,466 shares of the company’s stock, valued at approximately $607,906.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel L. Johnson purchased 2,500 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were purchased 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. 0.56% of the stock is currently owned by company insiders.

Shares of FAST stock traded down $0.01 during mid-day trading on Friday, reaching $29.62. The company’s stock had a trading volume of 5,695,920 shares, compared to its average volume of 5,431,485. The firm’s 50 day moving average is $31.59. Fastenal has a 12-month low of $24.00 and a 12-month high of $35.94. 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 stock has a market cap of $16.99 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 1.34 and a beta of 1.22.

Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, July 11th. The company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.01). The business 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 was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. On average, equities research analysts predict that Fastenal will post 1.38 EPS for the current fiscal year.

The company 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 dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Wednesday, July 24th. Fastenal’s payout ratio is 66.67%.

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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