Elo Mutual Pension Insurance Co Has $3.23 Million Position in Fastenal (NASDAQ:FAST)

Elo Mutual Pension Insurance Co lifted its stake in shares of Fastenal (NASDAQ:FASTFree Report) by 4.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,881 shares of the company’s stock after acquiring an additional 2,066 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Fastenal were worth $3,231,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Fastenal during the fourth quarter worth $405,513,000. Envestnet Asset Management Inc. raised its holdings in Fastenal by 47.3% during the third quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company’s stock worth $256,344,000 after buying an additional 1,505,936 shares during the last quarter. TD Asset Management Inc raised its holdings in Fastenal by 112.9% during the fourth quarter. TD Asset Management Inc now owns 2,679,735 shares of the company’s stock worth $173,566,000 after buying an additional 1,420,763 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Fastenal by 85.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 2,179,453 shares of the company’s stock worth $141,163,000 after buying an additional 1,002,004 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Fastenal by 16.5% during the third quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock worth $368,563,000 after buying an additional 957,091 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FAST. HSBC upped their price objective on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Stifel Nicolaus increased their target price on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. Loop Capital lowered their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Finally, Robert W. Baird lowered their target price on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and an average target price of $67.33.

Check Out Our Latest Stock Report on Fastenal

Insiders Place Their Bets

In related news, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total value of $732,191.96. Following the sale, the executive vice president now directly owns 26,176 shares of the company’s stock, valued at $1,677,096.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total value of $732,191.96. Following the sale, the executive vice president now directly owns 26,176 shares of the company’s stock, valued at $1,677,096.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Charles S. Miller sold 11,076 shares of Fastenal stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Fastenal Price Performance

FAST opened at $63.38 on Tuesday. The firm has a market cap of $36.29 billion, a P/E ratio of 31.38, a PEG ratio of 3.39 and a beta of 1.02. The firm has a 50-day moving average of $68.12 and a 200 day moving average of $68.39. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. Fastenal has a fifty-two week low of $53.83 and a fifty-two week high of $79.04.

Fastenal (NASDAQ:FASTGet Free Report) last posted its quarterly 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). The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. Fastenal’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. On average, research analysts expect that Fastenal will post 2.09 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th were given a dividend of $0.39 per share. The ex-dividend date was Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a yield of 2.46%. Fastenal’s dividend payout ratio is presently 77.23%.

Fastenal Profile

(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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