Axa S.A. Has $25.40 Million Stock Holdings in Fastenal Company $FAST

Axa S.A. raised its position in Fastenal Company (NASDAQ:FAST) by 81.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 604,727 shares of the company’s stock after acquiring an additional 271,136 shares during the period. Axa S.A.’s holdings in Fastenal were worth $25,399,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FAST. Vanguard Group Inc. raised its stake in shares of Fastenal by 103.5% in the second quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock valued at $6,265,119,000 after purchasing an additional 75,852,223 shares in the last quarter. State Street Corp boosted its stake in Fastenal by 99.6% during the second quarter. State Street Corp now owns 54,317,385 shares of the company’s stock worth $2,281,330,000 after buying an additional 27,107,520 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Fastenal by 103.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock valued at $1,931,830,000 after buying an additional 23,380,022 shares during the period. Geode Capital Management LLC increased its holdings in Fastenal by 103.8% in the 2nd quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock valued at $1,506,141,000 after buying an additional 18,329,847 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Fastenal by 87.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock valued at $1,463,743,000 after buying an additional 16,308,254 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Trading Up 1.5%

FAST stock opened at $40.93 on Thursday. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. The company has a market cap of $46.99 billion, a P/E ratio of 38.25, a PEG ratio of 3.21 and a beta of 0.89. The business has a fifty day moving average of $42.05 and a 200-day moving average of $44.39. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 earnings per share. As a group, equities research analysts expect that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, October 28th. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. Fastenal’s payout ratio is currently 82.24%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Northcoast Research initiated coverage on shares of Fastenal in a research report on Thursday, August 21st. They set a “neutral” rating on the stock. Barclays lowered their price objective on Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 13th. JPMorgan Chase & Co. raised their target price on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. 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 target price on the stock. Finally, Robert W. Baird dropped their target price on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.00.

Insider Activity

In other Fastenal news, Director Hsenghung Sam Hsu bought 1,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was purchased at an average cost of $49.58 per share, with a total value of $49,580.00. Following the completion of the purchase, the director owned 10,000 shares in the company, valued at approximately $495,800. The trade was a 11.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sarah N. Nielsen bought 1,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $198,000. This trade represents a 25.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 3,000 shares of company stock worth $131,630. Corporate insiders own 0.37% of the company’s stock.

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.