Fastenal (NASDAQ:FAST) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its position in shares of Fastenal (NASDAQ:FAST) by 9.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 194,979 shares of the company’s stock after buying an additional 16,164 shares during the period. Nisa Investment Advisors LLC’s holdings in Fastenal were worth $14,021,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Fastenal by 5.1% in the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company’s stock valued at $1,999,009,000 after purchasing an additional 1,346,863 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Fastenal by 3.2% in 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 buying an additional 608,596 shares during the last quarter. Geode Capital Management LLC raised its stake in Fastenal by 5.6% in the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock valued at $1,188,251,000 after buying an additional 880,372 shares in the last quarter. Legal & General Group Plc lifted its holdings in Fastenal by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 5,909,206 shares of the company’s stock worth $371,334,000 after buying an additional 193,734 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Fastenal by 5.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company’s stock worth $336,974,000 after acquiring an additional 226,126 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of FAST stock opened at $75.46 on Friday. The stock’s 50-day moving average price is $77.44 and its 200 day moving average price is $73.27. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $43.23 billion, a PE ratio of 37.54, a price-to-earnings-growth ratio of 4.24 and a beta of 1.02. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1,842,560.16 billion. During the same period in the previous year, the firm posted $0.46 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities research analysts forecast that Fastenal will post 2.16 EPS for the current year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is 77.61%.

Insider Activity

In other news, Director Rita J. Heise sold 10,888 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total transaction of $845,670.96. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,553,400. This represents a 35.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel L. Johnson sold 8,474 shares of Fastenal stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total value of $706,392.64. Following the completion of the sale, the director now owns 10,595 shares in the company, valued at approximately $883,199.20. This trade represents a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,660 shares of company stock valued at $6,211,126 over the last quarter. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FAST. Wolfe Research boosted their target price on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Bank of America began coverage on shares of Fastenal in a research report on Monday, October 7th. They issued a “buy” rating and a $85.00 target price on the stock. Morgan Stanley boosted their price target on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Stephens raised their price objective on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Finally, HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $76.91.

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.