Fastenal (NASDAQ:FAST) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its position in shares of Fastenal (NASDAQ:FAST) by 52.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,378 shares of the company’s stock after purchasing an additional 9,053 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Fastenal were worth $1,884,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP boosted its position in shares of Fastenal by 4,008.2% during the second quarter. Marshall Wace LLP now owns 756,241 shares of the company’s stock worth $47,522,000 after buying an additional 737,833 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Fastenal by 19.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock valued at $241,161,000 after purchasing an additional 636,546 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Fastenal by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock valued at $1,419,690,000 after purchasing an additional 608,596 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Fastenal during the 2nd quarter worth about $37,659,000. Finally, Thrivent Financial for Lutherans lifted its position in Fastenal by 13.2% in the second quarter. Thrivent Financial for Lutherans now owns 4,420,659 shares of the company’s stock worth $277,794,000 after purchasing an additional 517,172 shares during the period. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

FAST opened at $83.75 on Tuesday. The firm has a market capitalization of $47.98 billion, a P/E ratio of 41.67, a PEG ratio of 4.87 and a beta of 0.99. The stock has a fifty day moving average of $76.53 and a 200-day moving average of $69.87. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. Fastenal has a 12-month low of $59.47 and a 12-month high of $84.88.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the prior year, the business earned $0.52 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities analysts forecast that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Friday, October 25th. Fastenal’s payout ratio is presently 77.61%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FAST shares. UBS Group assumed coverage on Fastenal in a report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective for the company. Bank of America started coverage on shares of Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective for the company. Morgan Stanley boosted their target price on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Stephens increased their target price on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Finally, Robert W. Baird lifted their price target on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.80.

Insider Buying and Selling at Fastenal

In other Fastenal news, VP John Lewis Soderberg sold 488 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.32, for a total value of $37,244.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sheryl Ann Lisowski sold 13,567 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $76.19, for a total transaction of $1,033,669.73. Following the transaction, the chief accounting officer now owns 5,096 shares in the company, valued at $388,264.24. This represents a 72.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 208,289 shares of company stock worth $16,123,438. 0.41% of the stock is currently owned by company insiders.

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, 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.