23,658 Shares in Fastenal Company $FAST Acquired by Maven Securities LTD

Maven Securities LTD purchased a new position in Fastenal Company (NASDAQ:FAST) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 23,658 shares of the company’s stock, valued at approximately $1,136,000.

Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Fastenal in the second quarter worth $5,105,454,000. California State Teachers Retirement System lifted its position in shares of Fastenal by 4,689.6% during the 2nd quarter. California State Teachers Retirement System now owns 84,371,948 shares of the company’s stock valued at $4,052,385,000 after buying an additional 82,610,391 shares during the last quarter. State Street Corp lifted its position in shares of Fastenal by 1.2% during the 4th quarter. State Street Corp now owns 54,734,674 shares of the company’s stock valued at $2,196,502,000 after buying an additional 631,889 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Fastenal by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 47,297,047 shares of the company’s stock worth $1,898,031,000 after acquiring an additional 919,158 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Fastenal by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 37,699,836 shares of the company’s stock worth $1,508,216,000 after acquiring an additional 685,047 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other news, Director Michael Ancius sold 3,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the completion of the transaction, the director directly owned 58,690 shares in the company, valued at $2,875,810. The trade was a 4.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rita J. Heise sold 34,964 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total transaction of $1,749,948.20. Following the completion of the transaction, the director directly owned 20,000 shares in the company, valued at approximately $1,001,000. The trade was a 63.61% decrease in their position. The SEC filing for this sale provides additional information. 0.28% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on FAST. Wolfe Research reaffirmed an “underperform” rating and set a $47.00 price objective on shares of Fastenal in a report on Thursday, July 9th. William Blair restated an “outperform” rating on shares of Fastenal in a research note on Friday. Robert W. Baird set a $54.00 price objective on shares of Fastenal in a report on Friday, August 7th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a research note on Wednesday, July 15th. Finally, Barclays lowered their target price on shares of Fastenal from $47.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, July 16th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $49.17.

Fastenal Trading Down 0.4%

Shares of FAST opened at $49.38 on Wednesday. The business’s 50-day moving average price is $48.78 and its 200-day moving average price is $46.64. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $52.92. The stock has a market cap of $56.66 billion, a PE ratio of 41.85, a P/E/G ratio of 3.09 and a beta of 0.72. The company has a quick ratio of 2.21, a current ratio of 4.18 and a debt-to-equity ratio of 0.01.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 EPS for the quarter, meeting analysts’ consensus estimates of $0.33. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. Fastenal’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business earned $0.29 earnings per share. On average, equities analysts forecast that Fastenal Company will post 1.26 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, July 28th. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s payout ratio is 88.14%.

Fastenal Company Profile

Fastenal Company (NASDAQ: FAST) is a distributor of industrial and construction supplies. The company provides fasteners such as bolts, nuts, screws and related hardware, along with safety products, tools, material-handling equipment, welding supplies, janitorial products and other maintenance, repair and operations (MRO) materials.

Fastenal serves manufacturers, construction companies, contractors, government organizations and other commercial customers. Its offerings are delivered through a network of branch locations, customer-specific onsite operations, industrial vending machines, e-commerce platforms and other supply-chain services designed to help customers manage inventory and reduce procurement time.

Founded in 1967 by Bob Kierlin in Winona, Minnesota, Fastenal has expanded from a regional fastener supplier into an international industrial distributor.