Fastenal (NASDAQ:FAST) Stock Holdings Lifted by Tidal Investments LLC

Tidal Investments LLC grew its position in Fastenal (NASDAQ:FAST) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,243 shares of the company’s stock after purchasing an additional 1,599 shares during the period. Tidal Investments LLC’s holdings in Fastenal were worth $2,374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Aaron Wealth Advisors LLC acquired a new position in Fastenal in the third quarter worth approximately $310,000. Comgest Global Investors S.A.S. increased its stake in shares of Fastenal by 73.0% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company’s stock worth $6,219,000 after purchasing an additional 36,742 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Fastenal by 1.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company’s stock worth $26,373,000 after purchasing an additional 6,488 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Fastenal by 42.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 31,989 shares of the company’s stock valued at $2,285,000 after purchasing an additional 9,462 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Fastenal by 5.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company’s stock valued at $336,974,000 after purchasing an additional 226,126 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Performance

NASDAQ FAST opened at $78.47 on Monday. The company’s fifty day moving average is $79.47 and its two-hundred day moving average is $71.37. The firm has a market capitalization of $44.95 billion, a price-to-earnings ratio of 39.04, a P/E/G ratio of 4.69 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. Fastenal has a 52-week low of $61.33 and a 52-week high of $84.88.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.52 earnings per share. Equities research analysts forecast that Fastenal will post 2.03 EPS for the current year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were paid a $0.39 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.99%. Fastenal’s payout ratio is 77.61%.

Insider Activity at Fastenal

In other news, VP Charles S. Miller sold 23,480 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total value of $1,970,441.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Sheryl Ann Lisowski sold 13,567 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.19, for a total value of $1,033,669.73. Following the completion of the transaction, the chief accounting officer now directly owns 5,096 shares of the company’s stock, valued at approximately $388,264.24. The trade was a 72.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,289 shares of company stock worth $12,639,438. 0.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on FAST. Morgan Stanley raised their target price on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a research note on Wednesday, December 11th. Robert W. Baird upped their target price on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Finally, Stephens upped their price objective on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and an average target price of $77.40.

Fastenal Profile

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.