Beacon Investment Advisory Services Inc. purchased a new position in shares of Fastenal (NASDAQ:FAST) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,644 shares of the company’s stock, valued at approximately $303,000.

Several other institutional investors and hedge funds have also bought and sold shares of FAST. Janus Henderson Group PLC grew its holdings in Fastenal by 357.0% during the second quarter. Janus Henderson Group PLC now owns 1,822,655 shares of the company’s stock valued at $79,340,000 after purchasing an additional 1,423,856 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in Fastenal during the third quarter valued at approximately $64,702,000. Bank of New York Mellon Corp grew its holdings in Fastenal by 8.7% during the third quarter. Bank of New York Mellon Corp now owns 16,219,944 shares of the company’s stock valued at $739,306,000 after purchasing an additional 1,297,185 shares during the period. Old Mutual Global Investors UK Ltd. grew its holdings in Fastenal by 580.8% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,496,666 shares of the company’s stock valued at $68,218,000 after purchasing an additional 1,276,832 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Fastenal by 3.1% during the second quarter. Vanguard Group Inc. now owns 31,573,149 shares of the company’s stock valued at $1,374,380,000 after purchasing an additional 943,262 shares during the period. 84.67% of the stock is owned by institutional investors and hedge funds.

In related news, insider Leland J. Hein sold 10,000 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $47.14, for a total transaction of $471,400.00. Following the completion of the transaction, the insider now owns 21,290 shares in the company, valued at $1,003,610.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Terry Modock Owen sold 30,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $48.02, for a total transaction of $1,440,600.00. The disclosure for this sale can be found here. Insiders have sold 80,112 shares of company stock valued at $3,879,832 in the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

A number of research analysts recently issued reports on FAST shares. BidaskClub cut shares of Fastenal from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. BMO Capital Markets reiterated a “hold” rating and issued a $46.00 price target on shares of Fastenal in a report on Monday, August 21st. Stephens set a $54.00 price target on shares of Fastenal and gave the company a “buy” rating in a report on Wednesday, October 11th. Morgan Stanley reiterated an “equal weight” rating and issued a $46.00 price target (up previously from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $46.00 price target on shares of Fastenal in a report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Fastenal currently has an average rating of “Buy” and a consensus price target of $51.13.

Fastenal (NASDAQ FAST) opened at $53.11 on Thursday. The firm has a market cap of $15,467.35, a P/E ratio of 28.63, a PEG ratio of 1.99 and a beta of 1.08. Fastenal has a 1-year low of $39.79 and a 1-year high of $55.35. The company has a quick ratio of 2.45, a current ratio of 5.36 and a debt-to-equity ratio of 0.21.

Fastenal (NASDAQ:FAST) last announced its earnings results on Wednesday, October 11th. The company reported $0.50 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. sell-side analysts expect that Fastenal will post 1.93 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, October 25th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.41%. The ex-dividend date was Tuesday, October 24th. Fastenal’s payout ratio is 68.09%.

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About Fastenal

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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