Cim LLC Has $2.43 Million Position in Fastenal Company $FAST

Cim LLC raised its position in Fastenal Company (NASDAQ:FAST) by 97.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 57,916 shares of the company’s stock after buying an additional 28,534 shares during the period. Cim LLC’s holdings in Fastenal were worth $2,432,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 75,852,223 shares during the last quarter. State Street Corp raised its holdings in Fastenal by 99.6% during the 2nd quarter. State Street Corp now owns 54,317,385 shares of the company’s stock worth $2,281,330,000 after purchasing an additional 27,107,520 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Fastenal by 103.4% during 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 purchasing an additional 23,380,022 shares during the period. Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 18,329,847 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted 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 purchasing an additional 16,308,254 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FAST has been the topic of a number of recent research reports. Barclays reduced their price objective on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 13th. Wolfe Research raised Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price target on the stock in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research note on Tuesday. Robert W. Baird dropped their price objective on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Finally, Sanford C. Bernstein began coverage on Fastenal in a report on Tuesday, November 11th. They set an “underperform” rating and a $38.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $48.00.

Fastenal Stock Up 0.6%

Shares of Fastenal stock opened at $42.01 on Friday. The firm has a market cap of $48.23 billion, a PE ratio of 39.26, a P/E/G ratio of 3.36 and a beta of 0.89. The business’s 50 day simple moving average is $41.80 and its 200 day simple moving average is $44.40. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63.

Fastenal (NASDAQ:FAST) last issued its quarterly 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 business had revenue of $2.13 billion for 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 company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the firm earned $0.26 earnings per share. On average, analysts predict that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th were paid a $0.22 dividend. The ex-dividend date was Tuesday, October 28th. This represents a $0.88 dividend on an annualized basis and a yield of 2.1%. Fastenal’s dividend payout ratio is 82.24%.

Insider Activity

In other Fastenal news, Director Sarah N. Nielsen acquired 1,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was purchased at an average price of $39.60 per share, with a total value of $39,600.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $198,000. This trade represents a 25.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was bought at an average price 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 of the company’s stock, valued at $495,800. This trade represents a 11.11% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 3,000 shares of company stock worth $131,630. 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.