UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 226,126 Shares of Fastenal (NASDAQ:FAST)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Fastenal (NASDAQ:FAST) by 5.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,718,200 shares of the company’s stock after purchasing an additional 226,126 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.82% of Fastenal worth $336,974,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Fastenal by 3.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 199,270 shares of the company’s stock valued at $14,232,000 after acquiring an additional 6,218 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Fastenal by 107.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 108,858 shares of the company’s stock valued at $7,775,000 after purchasing an additional 56,294 shares during the period. Townsquare Capital LLC grew its holdings in Fastenal by 24.2% during the third quarter. Townsquare Capital LLC now owns 46,574 shares of the company’s stock valued at $3,326,000 after purchasing an additional 9,064 shares during the period. Avestar Capital LLC purchased a new stake in Fastenal in the third quarter worth about $204,000. Finally, D.A. Davidson & CO. raised its stake in shares of Fastenal by 5.1% in the third quarter. D.A. Davidson & CO. now owns 23,263 shares of the company’s stock worth $1,662,000 after buying an additional 1,123 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Bank of America started coverage on shares of Fastenal in a research note on Monday, October 7th. They set a “buy” rating and a $85.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Stifel Nicolaus reissued a “buy” rating and set a $86.00 price target (up from $80.00) on shares of Fastenal in a report on Monday, October 14th. UBS Group started coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price for the company. Finally, Robert W. Baird lifted their target price on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal currently has an average rating of “Hold” and an average price target of $74.80.

Fastenal Price Performance

Shares of Fastenal stock opened at $83.56 on Friday. The firm has a market cap of $47.87 billion, a PE ratio of 41.57, a PEG ratio of 4.90 and a beta of 0.99. The stock has a 50 day moving average of $77.57 and a 200 day moving average of $70.29. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. Fastenal has a 12 month low of $59.49 and a 12 month high of $84.88.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates 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 company earned $0.52 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, research analysts expect that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 25th were paid a $0.39 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.87%. Fastenal’s payout ratio is currently 77.61%.

Insider Transactions at Fastenal

In related news, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the sale, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,929,734.24. This represents a 14.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Charles S. Miller sold 23,480 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total value of $1,970,441.60. The disclosure for this sale can be found here. Insiders have sold a total of 208,289 shares of company stock worth $16,123,438 in the last three months. Insiders own 0.41% of the company’s stock.

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.