Canada Pension Plan Investment Board Sells 169,400 Shares of Fastenal (NASDAQ:FAST)

Canada Pension Plan Investment Board trimmed its holdings in shares of Fastenal (NASDAQ:FAST) by 39.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 257,220 shares of the company’s stock after selling 169,400 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Fastenal were worth $15,173,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of FAST. Pictet Asset Management SA boosted its stake in shares of Fastenal by 17.7% in the first quarter. Pictet Asset Management SA now owns 798,504 shares of the company’s stock valued at $43,071,000 after buying an additional 120,350 shares during the period. Mission Wealth Management LP acquired a new stake in shares of Fastenal during the 2nd quarter worth $213,000. PSI Advisors LLC lifted its position in Fastenal by 2,538.1% during the second quarter. PSI Advisors LLC now owns 554 shares of the company’s stock worth $33,000 after purchasing an additional 533 shares during the period. Groesbeck Investment Management Corp NJ acquired a new stake in Fastenal during the second quarter worth about $206,000. Finally, Arete Wealth Advisors LLC bought a new position in Fastenal in the 1st quarter valued at about $284,000. Institutional investors and hedge funds own 78.47% of the company’s stock.

Fastenal Trading Down 1.5 %

FAST opened at $60.11 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.71 and a quick ratio of 2.45. Fastenal has a fifty-two week low of $45.70 and a fifty-two week high of $61.25. The company’s 50 day moving average price is $56.96 and its two-hundred day moving average price is $56.66. The firm has a market capitalization of $34.35 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 3.31 and a beta of 1.13.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Thursday, October 12th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. Fastenal had a return on equity of 34.16% and a net margin of 15.57%. Fastenal’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. As a group, research analysts predict that Fastenal will post 2 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Thursday, October 26th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Wednesday, October 25th. Fastenal’s dividend payout ratio (DPR) is presently 70.35%.

Insider Activity

In other news, CAO Sheryl Ann Lisowski sold 17,296 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $60.01, for a total transaction of $1,037,932.96. Following the completion of the sale, the chief accounting officer now owns 5,096 shares of the company’s stock, valued at approximately $305,810.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Sheryl Ann Lisowski sold 17,296 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $60.01, for a total value of $1,037,932.96. Following the completion of the sale, the chief accounting officer now directly owns 5,096 shares in the company, valued at approximately $305,810.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Terry Modock Owen sold 63,332 shares of the stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $57.24, for a total value of $3,625,123.68. Following the completion of the transaction, the chief operating officer now owns 7,000 shares in the company, valued at approximately $400,680. The disclosure for this sale can be found here. Insiders have sold 120,192 shares of company stock valued at $6,978,101 in the last ninety days. 0.45% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FAST. HSBC began coverage on Fastenal in a research note on Friday, September 15th. They issued a “hold” rating and a $59.00 price target on the stock. StockNews.com started coverage on Fastenal in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Stifel Nicolaus increased their target price on shares of Fastenal from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, October 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $57.71.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, 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.