AustralianSuper Pty Ltd Acquires 14,200 Shares of Fastenal (NASDAQ:FAST)

AustralianSuper Pty Ltd lifted its holdings in Fastenal (NASDAQ:FASTFree Report) by 215.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,798 shares of the company’s stock after buying an additional 14,200 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Fastenal were worth $1,347,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Carlson Capital Management raised its holdings in shares of Fastenal by 12.9% in the fourth quarter. Carlson Capital Management now owns 11,595 shares of the company’s stock valued at $751,000 after buying an additional 1,323 shares during the last quarter. CoreCap Advisors LLC raised its holdings in shares of Fastenal by 24.9% in the fourth quarter. CoreCap Advisors LLC now owns 27,002 shares of the company’s stock valued at $1,749,000 after buying an additional 5,378 shares during the last quarter. Wealthsource Partners LLC bought a new position in shares of Fastenal in the fourth quarter valued at about $218,000. HB Wealth Management LLC raised its holdings in shares of Fastenal by 29.5% in the fourth quarter. HB Wealth Management LLC now owns 9,269 shares of the company’s stock valued at $600,000 after buying an additional 2,110 shares during the last quarter. Finally, Archford Capital Strategies LLC raised its holdings in shares of Fastenal by 16.2% in the fourth quarter. Archford Capital Strategies LLC now owns 22,247 shares of the company’s stock valued at $1,441,000 after buying an additional 3,097 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Insider Activity at Fastenal

In related news, Director Reyne K. Wisecup sold 34,042 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $68.48, for a total value of $2,331,196.16. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $1,369,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Reyne K. Wisecup sold 34,042 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $68.48, for a total value of $2,331,196.16. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $1,369,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Anthony Paul Broersma sold 5,586 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total value of $387,333.24. The disclosure for this sale can be found here. In the last three months, insiders sold 105,682 shares of company stock worth $7,375,853. 0.41% of the stock is owned by company insiders.

Fastenal Price Performance

Fastenal stock opened at $78.10 on Monday. The firm has a market capitalization of $44.69 billion, a P/E ratio of 38.66, a PEG ratio of 4.04 and a beta of 1.05. Fastenal has a 1 year low of $50.30 and a 1 year high of $79.04. The business has a 50-day moving average of $71.48 and a 200-day moving average of $63.78. The company has a current ratio of 4.57, a quick ratio of 2.27 and a debt-to-equity ratio of 0.06.

Fastenal (NASDAQ:FASTGet Free Report) last posted its earnings results on Thursday, January 18th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Fastenal had a return on equity of 34.31% and a net margin of 15.72%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 EPS. On average, equities analysts anticipate that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 1st were given a dividend of $0.39 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Wednesday, January 31st. Fastenal’s payout ratio is presently 77.23%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Stifel Nicolaus lifted their price target on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. Robert W. Baird boosted their price objective on Fastenal from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $64.50.

Check Out Our Latest Stock Report on FAST

About Fastenal

(Free Report)

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, 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 that 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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