Fastenal Company $FAST Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its position in Fastenal Company (NASDAQ:FAST) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 369,480 shares of the company’s stock after selling 17,978 shares during the period. Nisa Investment Advisors LLC’s holdings in Fastenal were worth $14,827,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FAST. State Street Corp lifted its stake in shares of Fastenal by 99.6% during the second quarter. State Street Corp now owns 54,317,385 shares of the company’s stock valued at $2,281,330,000 after buying an additional 27,107,520 shares during the period. Invesco Ltd. grew its stake in Fastenal by 141.9% in the 2nd quarter. Invesco Ltd. now owns 15,973,759 shares of the company’s stock worth $670,898,000 after acquiring an additional 9,370,909 shares during the period. Bank of America Corp DE raised its holdings in Fastenal by 106.1% in the 2nd quarter. Bank of America Corp DE now owns 15,431,393 shares of the company’s stock valued at $648,118,000 after acquiring an additional 7,943,217 shares during the last quarter. Baird Financial Group Inc. raised its holdings in Fastenal by 70.9% in the 2nd quarter. Baird Financial Group Inc. now owns 14,387,440 shares of the company’s stock valued at $604,272,000 after acquiring an additional 5,968,675 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Fastenal by 95.1% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,249,443 shares of the company’s stock worth $346,476,000 after purchasing an additional 4,021,541 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Up 0.5%

Shares of NASDAQ FAST opened at $46.63 on Thursday. The stock has a market capitalization of $53.55 billion, a PE ratio of 42.39, a P/E/G ratio of 2.95 and a beta of 0.84. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average of $45.63 and a 200-day moving average of $43.81. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63.

Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter last year, the firm earned $0.46 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts anticipate that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Thursday, January 29th. This is an increase from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio (DPR) is presently 87.27%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Morgan Stanley reiterated a “positive” rating and set a $45.00 target price on shares of Fastenal in a research report on Thursday, March 5th. Jefferies Financial Group set a $52.00 price target on Fastenal and gave the stock a “buy” rating in a research note on Monday, December 15th. UBS Group restated a “neutral” rating and issued a $46.00 price target on shares of Fastenal in a report on Wednesday, January 21st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research note on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.08.

Insider Transactions at Fastenal

In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the transaction, the director directly owned 40,000 shares of the company’s stock, valued at $1,893,600. The trade was a 48.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Scott Satterlee sold 15,964 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total transaction of $705,449.16. Following the sale, the director owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. This represents a 24.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is currently owned by insiders.

About Fastenal

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.