First Horizon Advisors Inc. Has $49,000 Position in Fastenal (NASDAQ:FAST)

First Horizon Advisors Inc. raised its position in Fastenal (NASDAQ:FAST) by 283.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 755 shares of the company’s stock after purchasing an additional 558 shares during the period. First Horizon Advisors Inc.’s holdings in Fastenal were worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in shares of Fastenal by 47.3% in the third quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company’s stock valued at $256,344,000 after acquiring an additional 1,505,936 shares in the last quarter. Invesco Ltd. grew its position in shares of Fastenal by 16.5% during the 3rd quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock worth $368,563,000 after purchasing an additional 957,091 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Fastenal by 80.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,600,206 shares of the company’s stock worth $87,435,000 after purchasing an additional 711,265 shares during the period. Royal Bank of Canada increased its holdings in shares of Fastenal by 9.3% during the third quarter. Royal Bank of Canada now owns 6,651,629 shares of the company’s stock worth $363,445,000 after purchasing an additional 568,372 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Fastenal by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company’s stock valued at $751,780,000 after buying an additional 423,112 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insiders Place Their Bets

In other news, Director Daniel L. Johnson purchased 3,350 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average cost of $68.38 per share, with a total value of $229,073.00. Following the completion of the purchase, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Charles S. Miller sold 11,076 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel L. Johnson bought 3,350 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were bought at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the acquisition, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The disclosure for this purchase can be found here. Insiders own 0.41% of the company’s stock.

Fastenal Stock Performance

Fastenal stock opened at $66.41 on Wednesday. The stock has a market cap of $38.02 billion, a PE ratio of 32.88, a P/E/G ratio of 3.58 and a beta of 1.07. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. Fastenal has a 12-month low of $52.86 and a 12-month high of $79.04. The business’s 50-day moving average price is $72.87 and its two-hundred day moving average price is $67.29.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. Fastenal’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts expect that Fastenal will post 2.12 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a yield of 2.35%. Fastenal’s dividend payout ratio is currently 77.23%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Stifel Nicolaus raised their price objective on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Loop Capital dropped their price target on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. HSBC upped their price objective on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Finally, Robert W. Baird decreased their target price on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Fastenal has an average rating of “Hold” and an average price target of $67.33.

Fastenal Profile

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.