Meeder Asset Management Inc. Has $442,000 Stock Position in Fastenal (NASDAQ:FAST)

Meeder Asset Management Inc. raised its holdings in Fastenal (NASDAQ:FAST) by 966.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,583 shares of the company’s stock after buying an additional 12,309 shares during the quarter. Meeder Asset Management Inc.’s holdings in Fastenal were worth $442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Securian Asset Management Inc grew its holdings in 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 buying an additional 150 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in Fastenal by 0.5% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 43,484 shares of the company’s stock valued at $2,796,000 after buying an additional 227 shares during the last quarter. Ironwood Investment Management LLC grew its holdings in Fastenal by 3.2% in the 1st quarter. Ironwood Investment Management LLC now owns 8,161 shares of the company’s stock valued at $525,000 after buying an additional 250 shares during the last quarter. ETF Managers Group LLC grew its holdings in Fastenal by 10.5% in the 1st quarter. ETF Managers Group LLC now owns 2,675 shares of the company’s stock valued at $172,000 after buying an additional 254 shares during the last quarter. Finally, Haverford Trust Co. grew its holdings in shares of Fastenal by 6.4% during the 1st quarter. Haverford Trust Co. now owns 4,255 shares of the company’s stock worth $274,000 after purchasing an additional 255 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:FAST opened at $30.23 on Friday. Fastenal has a 1-year low of $24.00 and a 1-year high of $35.94. The firm has a market capitalization of $17.48 billion, a PE ratio of 22.90, a PEG ratio of 1.38 and a beta of 1.22. The business’s 50 day moving average is $30.61 and its 200-day moving average is $49.39. The company has a current ratio of 4.68, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25.

Fastenal (NASDAQ:FAST) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $1.38 billion. Fastenal had a return on equity of 32.27% and a net margin of 14.74%. Fastenal’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 EPS. On average, sell-side analysts predict that Fastenal will post 1.38 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, July 25th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.88 annualized dividend and a dividend yield of 2.91%. Fastenal’s dividend payout ratio (DPR) is presently 66.67%.

Several analysts have recently weighed in on the company. ValuEngine lowered Fastenal from a “sell” rating to a “strong sell” rating in a report on Thursday, May 23rd. Wells Fargo & Co decreased their price objective on Fastenal from $35.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday, July 12th. Raymond James decreased their price objective on Fastenal from $39.00 to $37.00 and set a “strong-buy” rating on the stock in a report on Friday, July 12th. Buckingham Research decreased their price objective on Fastenal from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, William Blair lowered Fastenal from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Fastenal currently has an average rating of “Hold” and an average target price of $31.36.

In related news, Director Michael J. Ancius bought 1,104 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average price of $30.13 per share, for a total transaction of $33,263.52. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel L. Johnson bought 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $30.49 per share, with a total value of $76,225.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,604 shares of company stock valued at $138,479 in the last 90 days. 0.56% of the stock is owned by corporate insiders.

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.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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