Fastenal (NASDAQ:FAST) Stake Lessened by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lowered its stake in Fastenal (NASDAQ:FASTFree Report) by 10.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 230,320 shares of the company’s stock after selling 26,900 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Fastenal were worth $12,585,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Fastenal by 0.3% in the first quarter. BlackRock Inc. now owns 45,154,559 shares of the company’s stock worth $2,435,637,000 after purchasing an additional 138,257 shares during the period. Geode Capital Management LLC raised its position in Fastenal by 3.3% in the second quarter. Geode Capital Management LLC now owns 14,122,516 shares of the company’s stock worth $831,215,000 after acquiring an additional 446,106 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Fastenal by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company’s stock worth $751,780,000 after acquiring an additional 423,112 shares in the last quarter. Morgan Stanley raised its position in Fastenal by 37.8% in the fourth quarter. Morgan Stanley now owns 9,092,207 shares of the company’s stock worth $430,243,000 after acquiring an additional 2,492,722 shares in the last quarter. Finally, Northern Trust Corp raised its position in Fastenal by 0.6% in the first quarter. Northern Trust Corp now owns 7,502,384 shares of the company’s stock worth $445,642,000 after acquiring an additional 41,898 shares in the last quarter. Institutional investors and hedge funds own 78.47% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the topic of several research reports. Stifel Nicolaus boosted their price target on shares of Fastenal from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. Robert W. Baird boosted their price target on shares of Fastenal from $62.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $62.17.

Read Our Latest Report on Fastenal

Insiders Place Their Bets

In other news, Director Reyne K. Wisecup sold 34,042 shares of the company’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $68.48, for a total value of $2,331,196.16. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $1,369,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Reyne K. Wisecup sold 34,042 shares of the company’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $68.48, for a total value of $2,331,196.16. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $1,369,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel L. Florness sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $60.21, for a total value of $1,204,200.00. Following the completion of the transaction, the chief executive officer now owns 282,929 shares in the company, valued at approximately $17,035,155.09. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,120 shares of company stock worth $9,322,231. Company insiders own 0.45% of the company’s stock.

Fastenal Price Performance

NASDAQ FAST opened at $70.02 on Monday. The stock’s 50-day moving average price is $65.52 and its two-hundred day moving average price is $60.34. The company has a current ratio of 4.57, a quick ratio of 2.27 and a debt-to-equity ratio of 0.06. The company has a market cap of $40.07 billion, a PE ratio of 34.66, a PEG ratio of 3.62 and a beta of 1.05. Fastenal has a 1 year low of $50.30 and a 1 year high of $70.95.

Fastenal (NASDAQ:FASTGet Free Report) last posted its quarterly earnings data on Thursday, January 18th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Fastenal had a return on equity of 34.31% and a net margin of 15.72%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS. On average, analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 29th. Shareholders of record on Thursday, February 1st will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.23%. The ex-dividend date is Wednesday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.38. Fastenal’s payout ratio is presently 77.23%.

Fastenal Profile

(Free Report)

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, 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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

Featured Stories

Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal (NASDAQ:FASTFree Report).

Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.