Fastenal Company $FAST Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its position in shares of Fastenal Company (NASDAQ:FAST) by 7.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 190,950 shares of the company’s stock after buying an additional 13,737 shares during the period. iA Global Asset Management Inc.’s holdings in Fastenal were worth $9,364,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Outlook Wealth Advisors LLC purchased a new stake in shares of Fastenal in the third quarter valued at $310,000. Bailard Inc. boosted its stake in Fastenal by 317.7% in the 3rd quarter. Bailard Inc. now owns 34,648 shares of the company’s stock worth $1,699,000 after buying an additional 26,354 shares during the last quarter. Stock Yards Bank & Trust Co. boosted its stake in Fastenal by 4.1% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 25,402 shares of the company’s stock worth $1,246,000 after buying an additional 1,000 shares during the last quarter. Avidian Wealth Enterprises LLC grew its holdings in Fastenal by 12.1% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 5,400 shares of the company’s stock valued at $265,000 after buying an additional 582 shares during the period. Finally, Rakuten Investment Management Inc. acquired a new position in shares of Fastenal during the 3rd quarter valued at about $1,229,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Activity at Fastenal

In other news, Director Sarah N. Nielsen bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was acquired at an average cost of $39.60 per share, for a total transaction of $39,600.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at $198,000. This trade represents a 25.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at $495,800. This trade represents a 11.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.37% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FAST has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. Barclays set a $43.00 price objective on shares of Fastenal and gave the company an “equal weight” rating in a research note on Wednesday. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a research report on Wednesday. UBS Group reissued a “neutral” rating and set a $46.00 price target on shares of Fastenal in a research report on Wednesday. Finally, Wolfe Research cut their price objective on Fastenal from $43.00 to $42.00 and set an “underperform” rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $48.00.

Fastenal Stock Down 2.0%

Shares of Fastenal stock opened at $43.89 on Friday. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The stock has a market cap of $50.39 billion, a price-to-earnings ratio of 39.90, a price-to-earnings-growth ratio of 2.87 and a beta of 0.90. The company has a current ratio of 4.85, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average price of $41.47 and a 200 day moving average price of $44.44.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts forecast that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th will be issued a $0.24 dividend. The ex-dividend date is Thursday, January 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. This is a boost from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio (DPR) is currently 82.24%.

Fastenal Company Profile

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.