Oppenheimer Asset Management Inc. increased its holdings in shares of Fastenal (NASDAQ:FAST) by 4.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,965 shares of the company’s stock after purchasing an additional 4,724 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Fastenal were worth $4,859,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Signaturefd LLC acquired a new stake in Fastenal in the first quarter valued at approximately $117,000. Institutional & Family Asset Management LLC acquired a new stake in Fastenal in the first quarter valued at approximately $122,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Fastenal by 87.8% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,500 shares of the company’s stock valued at $135,000 after acquiring an additional 1,169 shares in the last quarter. Trust Department MB Financial Bank N A acquired a new stake in Fastenal in the second quarter valued at approximately $137,000. Finally, Lucia Wealth Services LLC acquired a new stake in Fastenal in the first quarter valued at approximately $143,000. Institutional investors own 85.88% of the company’s stock.

NASDAQ:FAST opened at $58.17 on Friday. Fastenal has a 12 month low of $40.76 and a 12 month high of $61.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.62 and a quick ratio of 2.57. The firm has a market cap of $16.86 billion, a PE ratio of 30.14, a P/E/G ratio of 1.64 and a beta of 1.03.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data 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 net margin of 14.57% and a return on equity of 30.82%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. equities analysts predict that Fastenal will post 2.56 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 22nd. Stockholders of record on Wednesday, July 25th were paid a dividend of $0.40 per share. This is an increase from Fastenal’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Tuesday, July 24th. Fastenal’s payout ratio is presently 82.90%.

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

Several brokerages have weighed in on FAST. BidaskClub downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday. Northcoast Research restated a “buy” rating and issued a $62.00 target price on shares of Fastenal in a research note on Friday, July 27th. ValuEngine upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Saturday, July 14th. Finally, Stifel Nicolaus raised their target price on shares of Fastenal from $53.00 to $56.00 and gave the company a “hold” rating in a research note on Friday, July 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Fastenal presently has a consensus rating of “Hold” and a consensus target price 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.

Further Reading: Short Selling

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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