Cozad Asset Management Inc. Takes Position in Fastenal (NASDAQ:FAST)

Cozad Asset Management Inc. acquired a new position in shares of Fastenal (NASDAQ:FAST) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,930 shares of the company’s stock, valued at approximately $226,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. increased its stake in shares of Fastenal by 24.0% in the third quarter. American Century Companies Inc. now owns 382,378 shares of the company’s stock valued at $20,893,000 after purchasing an additional 74,072 shares during the period. Central Bank & Trust Co. increased its stake in shares of Fastenal by 72.9% in the fourth quarter. Central Bank & Trust Co. now owns 1,599 shares of the company’s stock valued at $104,000 after purchasing an additional 674 shares during the period. Wedmont Private Capital acquired a new stake in shares of Fastenal in the fourth quarter valued at approximately $219,000. Nordea Investment Management AB increased its stake in shares of Fastenal by 0.4% in the fourth quarter. Nordea Investment Management AB now owns 1,280,071 shares of the company’s stock valued at $82,949,000 after purchasing an additional 4,673 shares during the period. Finally, Sound Income Strategies LLC increased its stake in shares of Fastenal by 281.2% in the fourth quarter. Sound Income Strategies LLC now owns 2,169 shares of the company’s stock valued at $140,000 after purchasing an additional 1,600 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Trading Up 0.6 %

Shares of NASDAQ:FAST opened at $70.38 on Thursday. The stock has a market capitalization of $40.30 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 3.72 and a beta of 1.01. Fastenal has a 1-year low of $53.83 and a 1-year high of $79.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.49 and a current ratio of 4.39. The company has a 50 day moving average price of $65.01 and a 200 day moving average price of $68.59.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. On average, research analysts anticipate that Fastenal will post 2.06 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, July 26th will be given a $0.39 dividend. The ex-dividend date is Thursday, July 25th. This represents a $1.56 annualized dividend and a dividend yield of 2.22%. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Insider Activity at Fastenal

In other news, Director Hsenghung Sam Hsu purchased 500 shares of Fastenal stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the transaction, the director now owns 3,500 shares in the company, valued at $221,480. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP James C. Jansen sold 11,428 shares of Fastenal stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total transaction of $732,191.96. Following the completion of the sale, the executive vice president now owns 26,176 shares of the company’s stock, valued at $1,677,096.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Hsenghung Sam Hsu bought 500 shares of the stock in a transaction on Monday, June 10th. The stock was purchased at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the purchase, the director now directly owns 3,500 shares of the company’s stock, valued at $221,480. The disclosure for this purchase can be found here. 0.41% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Stephens restated an “equal weight” rating and issued a $56.00 price target on shares of Fastenal in a research note on Monday. Stifel Nicolaus restated a “buy” rating and issued a $80.00 price target (down previously from $85.00) on shares of Fastenal in a research note on Monday. Loop Capital decreased their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Robert W. Baird decreased their price objective on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Finally, Jefferies Financial Group decreased their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $66.67.

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.