Dimensional Fund Advisors LP Raises Position in Fastenal (NASDAQ:FAST)

Dimensional Fund Advisors LP increased its holdings in Fastenal (NASDAQ:FASTFree Report) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,097,256 shares of the company’s stock after purchasing an additional 60,490 shares during the period. Dimensional Fund Advisors LP owned 0.54% of Fastenal worth $200,611,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its stake in shares of Fastenal by 21.6% during the 3rd quarter. Assetmark Inc. now owns 1,951 shares of the company’s stock valued at $107,000 after buying an additional 347 shares during the period. Perigon Wealth Management LLC increased its stake in Fastenal by 21.4% during the third quarter. Perigon Wealth Management LLC now owns 5,619 shares of the company’s stock worth $307,000 after acquiring an additional 991 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Fastenal by 10.8% in the 3rd quarter. Fifth Third Bancorp now owns 29,483 shares of the company’s stock worth $1,611,000 after purchasing an additional 2,884 shares during the period. Panagora Asset Management Inc. lifted its stake in shares of Fastenal by 7.1% in the 3rd quarter. Panagora Asset Management Inc. now owns 18,943 shares of the company’s stock valued at $1,035,000 after purchasing an additional 1,261 shares in the last quarter. Finally, New Mexico Educational Retirement Board grew its holdings in shares of Fastenal by 7.2% during the 3rd quarter. New Mexico Educational Retirement Board now owns 29,726 shares of the company’s stock worth $1,624,000 after purchasing an additional 2,000 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Price Performance

FAST opened at $66.98 on Thursday. Fastenal has a twelve month low of $52.86 and a twelve month high of $79.04. The firm has a market cap of $38.35 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 3.53 and a beta of 1.07. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $72.24 and a 200 day simple moving average of $67.65.

Fastenal (NASDAQ:FASTGet Free Report) last announced its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business 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 business earned $0.52 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Equities research analysts expect that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.33%. Fastenal’s dividend payout ratio is presently 77.23%.

Insider Buying and Selling at Fastenal

In related news, Director Daniel L. Johnson purchased 3,350 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was acquired at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the purchase, the director now owns 10,595 shares in the company, valued at $724,486.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Jeffery Michael Watts sold 19,420 shares of Fastenal stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total value of $1,364,255.00. Following the completion of the transaction, the insider now owns 5,940 shares in the company, valued at approximately $417,285. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel L. Johnson purchased 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The stock was purchased at an average price of $68.38 per share, with a total value 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. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FAST shares. Robert W. Baird cut their price target on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Loop Capital cut their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. HSBC upped their price target 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, Stifel Nicolaus raised their price objective on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Fastenal presently has an average rating of “Hold” and an average price target of $67.33.

View Our Latest Analysis on Fastenal

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.

Further Reading

Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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