Franklin Resources Inc. Boosts Holdings in Fastenal (NASDAQ:FAST)

Franklin Resources Inc. raised its position in shares of Fastenal (NASDAQ:FAST) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,632,877 shares of the company’s stock after purchasing an additional 5,373 shares during the quarter. Franklin Resources Inc. owned 0.81% of Fastenal worth $300,071,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FAST. Norges Bank bought a new stake in shares of Fastenal during the fourth quarter valued at approximately $405,513,000. Envestnet Asset Management Inc. increased its position in Fastenal by 47.3% in the third quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company’s stock worth $256,344,000 after purchasing an additional 1,505,936 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Fastenal by 85.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 2,179,453 shares of the company’s stock worth $141,163,000 after purchasing an additional 1,002,004 shares during the last quarter. Invesco Ltd. increased its position in Fastenal by 16.5% in the third quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock worth $368,563,000 after purchasing an additional 957,091 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Fastenal by 80.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,600,206 shares of the company’s stock worth $87,435,000 after purchasing an additional 711,265 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Up 0.4 %

NASDAQ:FAST traded up $0.26 during mid-day trading on Wednesday, reaching $66.57. The company’s stock had a trading volume of 745,709 shares, compared to its average volume of 3,796,249. Fastenal has a 1 year low of $52.86 and a 1 year high of $79.04. The stock has a fifty day moving average of $71.39 and a 200-day moving average of $67.91. The firm has a market capitalization of $38.11 billion, a PE ratio of 33.07, a price-to-earnings-growth ratio of 3.49 and a beta of 1.07. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06.

Fastenal (NASDAQ:FAST) last announced its earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Equities research analysts forecast that Fastenal will post 2.12 earnings per share for the current year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 annualized dividend and a dividend yield of 2.34%. Fastenal’s dividend payout ratio (DPR) is currently 77.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Robert W. Baird dropped their price objective on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. HSBC boosted their target price on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Finally, Loop Capital lowered their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and an average price target of $67.33.

Insider Activity

In other news, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Charles S. Miller sold 11,076 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel L. Johnson bought 3,350 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were acquired at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the transaction, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.

About Fastenal

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