First Trust Direct Indexing L.P. Boosts Stake in Fastenal (NASDAQ:FAST)

First Trust Direct Indexing L.P. boosted its position in shares of Fastenal (NASDAQ:FAST) by 32.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,199 shares of the company’s stock after buying an additional 3,452 shares during the period. First Trust Direct Indexing L.P.’s holdings in Fastenal were worth $920,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Fastenal by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company’s stock valued at $751,780,000 after acquiring an additional 423,112 shares during the last quarter. Morgan Stanley raised its stake in Fastenal by 4.1% during the third quarter. Morgan Stanley now owns 8,582,669 shares of the company’s stock valued at $468,957,000 after purchasing an additional 337,168 shares in the last quarter. Northern Trust Corp lifted its position in Fastenal by 5.9% during the third quarter. Northern Trust Corp now owns 7,444,498 shares of the company’s stock valued at $406,767,000 after purchasing an additional 413,572 shares during the last quarter. Invesco Ltd. grew its stake in shares of Fastenal by 16.5% in the 3rd 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 in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Fastenal by 9.3% in the 3rd quarter. Royal Bank of Canada now owns 6,651,629 shares of the company’s stock worth $363,445,000 after buying an additional 568,372 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In other news, Director Daniel L. Johnson bought 3,350 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was bought at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Fastenal news, Director Daniel L. Johnson purchased 3,350 shares of the stock in a transaction on Wednesday, April 17th. The stock was acquired at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the acquisition, the director now owns 10,595 shares in the company, valued at $724,486.10. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeffery Michael Watts sold 19,420 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total transaction of $1,364,255.00. Following the transaction, the insider now owns 5,940 shares in the company, valued at approximately $417,285. The disclosure for this sale can be found here. Insiders have sold a total of 36,082 shares of company stock valued at $2,584,060 in the last 90 days. Insiders own 0.41% of the company’s stock.

Fastenal Stock Up 0.5 %

Fastenal stock opened at $68.43 on Friday. Fastenal has a twelve month low of $52.85 and a twelve month high of $79.04. The business has a fifty day moving average of $73.21 and a two-hundred day moving average of $67.01. The firm has a market cap of $39.18 billion, a P/E ratio of 33.88, a P/E/G ratio of 3.56 and a beta of 1.07. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts forecast that Fastenal will post 2.12 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Wednesday, April 24th. Fastenal’s payout ratio is currently 77.23%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FAST. HSBC boosted their target price on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, April 15th. Loop Capital reduced their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Stifel Nicolaus lifted their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Robert W. Baird reduced their price objective on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.67.

Fastenal 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.