Union Bancaire Privee UBP SA Buys Shares of 12,146 Fastenal (NASDAQ:FAST)

Union Bancaire Privee UBP SA bought a new stake in shares of Fastenal (NASDAQ:FAST) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,146 shares of the company’s stock, valued at approximately $832,000.

Several other large investors also recently added to or reduced their stakes in FAST. State Street Corp raised its stake in Fastenal by 5.1% during the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company’s stock valued at $1,999,009,000 after purchasing an additional 1,346,863 shares during the period. Geode Capital Management LLC raised its stake in Fastenal by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock valued at $1,188,251,000 after purchasing an additional 880,372 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Fastenal by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock valued at $1,419,690,000 after purchasing an additional 608,596 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Fastenal by 1,789.1% in the third quarter. Benjamin Edwards Inc. now owns 535,723 shares of the company’s stock worth $38,262,000 after acquiring an additional 507,364 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Fastenal by 59.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 928,377 shares of the company’s stock worth $66,305,000 after acquiring an additional 345,537 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fastenal

In related news, VP Charles S. Miller sold 23,480 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total value of $1,970,441.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel L. Johnson sold 8,474 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total transaction of $706,392.64. Following the completion of the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at $883,199.20. This trade represents a 44.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,772 shares of company stock worth $5,365,455. Company insiders own 0.41% of the company’s stock.

Fastenal Stock Down 1.9 %

FAST stock opened at $74.79 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88. The company has a 50-day moving average of $77.07 and a two-hundred day moving average of $73.61. The stock has a market capitalization of $42.85 billion, a price-to-earnings ratio of 37.21, a price-to-earnings-growth ratio of 3.60 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the company earned $0.46 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts anticipate that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Wall Street Analyst Weigh In

FAST has been the topic of a number of research reports. Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. Wolfe Research upped their price target on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Stifel Nicolaus dropped their price target on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Bank of America began coverage on shares of Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Jefferies Financial Group upped their price objective on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastenal presently has an average rating of “Hold” and a consensus price target of $76.91.

Fastenal Company 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.