BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Fastenal (NASDAQ:FAST) by 38.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 215,358 shares of the company’s stock after acquiring an additional 59,747 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.08% of Fastenal worth $10,365,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of FAST. Signaturefd LLC purchased a new stake in shares of Fastenal in the first quarter worth about $117,000. Institutional & Family Asset Management LLC purchased a new stake in shares of Fastenal in the first quarter worth about $122,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Fastenal by 87.8% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,500 shares of the company’s stock worth $135,000 after buying an additional 1,169 shares during the period. Lucia Wealth Services LLC purchased a new stake in shares of Fastenal in the first quarter worth about $143,000. Finally, Trust Department MB Financial Bank N A purchased a new stake in shares of Fastenal in the second quarter worth about $137,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:FAST opened at $58.17 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.57 and a current ratio of 5.62. Fastenal has a one year low of $40.76 and a one year high of $61.14. The stock has a market capitalization of $16.94 billion, a P/E ratio of 30.14, a price-to-earnings-growth ratio of 1.65 and a beta of 1.03.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Wednesday, July 11th. The company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.08. Fastenal had a return on equity of 30.82% and a net margin of 14.57%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company’s revenue was up 13.1% compared to the same quarter last year. equities research analysts predict that Fastenal will post 2.56 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 22nd. Investors of record on Wednesday, July 25th were paid a $0.40 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, July 24th. This represents a $1.60 annualized dividend and a dividend yield of 2.75%. Fastenal’s payout ratio is 82.90%.

In other Fastenal news, insider Terry Modock Owen purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 6th. The shares were acquired at an average price of $51.85 per share, for a total transaction of $103,700.00. Following the completion of the purchase, the insider now owns 2,000 shares in the company, valued at approximately $103,700. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.56% of the company’s stock.

FAST has been the subject of several analyst reports. Northcoast Research set a $60.00 target price on Fastenal and gave the stock a “buy” rating in a research report on Friday, July 13th. Zacks Investment Research raised Fastenal from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Saturday, July 14th. BidaskClub raised Fastenal from a “hold” rating to a “buy” rating in a research report on Saturday, May 19th. ValuEngine raised Fastenal from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Finally, Stifel Nicolaus upped their target price on Fastenal from $53.00 to $56.00 and gave the stock a “hold” rating in a research report on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $55.55.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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