Versor Investments LP Makes New Investment in Fastenal (NASDAQ:FAST)

Versor Investments LP acquired a new position in Fastenal (NASDAQ:FAST) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,900 shares of the company’s stock, valued at approximately $921,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Fastenal during the third quarter valued at about $25,000. Central Valley Advisors LLC bought a new stake in shares of Fastenal in the 2nd quarter worth approximately $28,000. Triad Wealth Partners LLC acquired a new stake in shares of Fastenal during the 2nd quarter worth approximately $32,000. Crewe Advisors LLC raised its stake in shares of Fastenal by 528.4% in the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after purchasing an additional 428 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC lifted its position in Fastenal by 1,019.0% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after purchasing an additional 428 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of FAST stock opened at $83.50 on Wednesday. The stock’s fifty day moving average is $73.61 and its 200-day moving average is $68.83. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. Fastenal has a 52 week low of $59.47 and a 52 week high of $84.88. The stock has a market capitalization of $47.84 billion, a PE ratio of 41.54, a PEG ratio of 4.88 and a beta of 0.99.

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

Fastenal Announces Dividend

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

Wall Street Analysts Forecast Growth

FAST has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Bank of America began coverage on shares of Fastenal in a research note on Monday, October 7th. They set a “buy” rating and a $85.00 price target for the company. Stephens upped their price objective on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their target price on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $86.00 price target (up from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $73.33.

Insider Activity

In related news, CEO Daniel L. Florness sold 31,818 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $84.50, for a total value of $2,688,621.00. Following the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $24,168,521. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Daniel L. Florness sold 31,818 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $84.50, for a total value of $2,688,621.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares in the company, valued at approximately $24,168,521. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,489,266.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 222,079 shares of company stock valued at $16,563,600. Company insiders own 0.41% of the company’s stock.

About Fastenal

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.