Fastenal Company $FAST Position Increased by California Public Employees Retirement System

California Public Employees Retirement System grew its position in Fastenal Company (NASDAQ:FAST) by 69.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,286,740 shares of the company’s stock after purchasing an additional 1,749,822 shares during the period. California Public Employees Retirement System’s holdings in Fastenal were worth $180,043,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Patton Fund Management Inc. bought a new stake in shares of Fastenal during the 2nd quarter worth $229,000. Values First Advisors Inc. lifted its position in Fastenal by 183.0% during the 2nd quarter. Values First Advisors Inc. now owns 9,378 shares of the company’s stock worth $394,000 after acquiring an additional 6,064 shares during the last quarter. Vanguard Group Inc. lifted its position in Fastenal by 103.5% during the 2nd quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock worth $6,265,119,000 after acquiring an additional 75,852,223 shares during the last quarter. Optas LLC boosted its holdings in Fastenal by 100.2% during the second quarter. Optas LLC now owns 13,712 shares of the company’s stock valued at $576,000 after acquiring an additional 6,863 shares during the period. Finally, Element Capital Management LLC acquired a new stake in shares of Fastenal in the first quarter valued at about $2,744,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

FAST opened at $41.50 on Monday. The stock’s 50 day simple moving average is $42.52 and its 200-day simple moving average is $44.42. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. The stock has a market cap of $47.64 billion, a PE ratio of 38.79, a P/E/G ratio of 3.30 and a beta of 0.89. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63.

Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the business earned $0.26 earnings per share. Sell-side analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, October 28th. Fastenal’s payout ratio is 82.24%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Northcoast Research started coverage on Fastenal in a research report on Thursday, August 21st. They set a “neutral” rating for the company. Robert W. Baird dropped their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. Wolfe Research upgraded Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price target for the company in a report on Thursday, November 13th. Sanford C. Bernstein assumed coverage on shares of Fastenal in a research note on Tuesday, November 11th. They issued an “underperform” rating and a $38.00 price objective on the stock. Finally, Barclays reduced their price target on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating for the company in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.70.

Insider Transactions at Fastenal

In related news, Director Hsenghung Sam Hsu acquired 1,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were bought at an average cost of $49.58 per share, with a total value of $49,580.00. Following the completion of the acquisition, the director owned 10,000 shares of the company’s stock, valued at $495,800. This trade represents a 11.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sarah N. Nielsen acquired 1,000 shares of the stock in a transaction dated Wednesday, November 19th. The stock was bought at an average price 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 in the company, valued at approximately $198,000. This trade represents a 25.00% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 3,000 shares of company stock worth $131,630. 0.37% of the stock is currently owned by insiders.

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.