Public Employees Retirement Association of Colorado Has $4.69 Million Stake in Fastenal (NASDAQ:FAST)

Public Employees Retirement Association of Colorado trimmed its stake in Fastenal (NASDAQ:FAST) by 6.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 60,856 shares of the company’s stock after selling 4,434 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Fastenal were worth $4,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MCF Advisors LLC grew its position in Fastenal by 2,172.2% in the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after purchasing an additional 391 shares during the last quarter. Hartford Financial Management Inc. boosted its position in shares of Fastenal by 46.9% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after acquiring an additional 153 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Fastenal during the 1st quarter valued at about $39,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Fastenal during the 4th quarter valued at about $35,000. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Fastenal during the 4th quarter valued at about $43,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FAST has been the topic of several recent research reports. Stephens reiterated an “equal weight” rating and set a $56.00 target price on shares of Fastenal in a research report on Monday, July 15th. Stifel Nicolaus reiterated a “buy” rating and set a $80.00 target price (down from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Loop Capital decreased their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Robert W. Baird cut their price target 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, HSBC lifted their price target on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday, April 15th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $66.67.

Fastenal Price Performance

FAST stock traded up $0.37 during trading on Monday, hitting $70.74. 1,023,904 shares of the stock traded hands, compared to its average volume of 3,693,283. Fastenal has a one year low of $53.83 and a one year high of $79.04. The stock has a market cap of $40.51 billion, a price-to-earnings ratio of 35.01, a P/E/G ratio of 3.79 and a beta of 1.01. The company has a 50 day simple moving average of $65.20 and a 200 day simple moving average of $68.92. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04.

Fastenal (NASDAQ:FAST) last announced 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. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. Equities analysts expect that Fastenal will post 2.06 EPS for the current fiscal year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, July 26th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, July 26th. Fastenal’s dividend payout ratio is presently 77.61%.

Insiders Place Their Bets

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

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.