Osaic Holdings Inc. Has $8.44 Million Position in Fastenal Company $FAST

Osaic Holdings Inc. increased its position in shares of Fastenal Company (NASDAQ:FAST) by 146.6% during the second quarter, Holdings Channel reports. The institutional investor owned 187,568 shares of the company’s stock after purchasing an additional 111,512 shares during the quarter. Osaic Holdings Inc.’s holdings in Fastenal were worth $8,440,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverview Trust Co lifted its position in shares of Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after acquiring an additional 292 shares during the period. Hilltop National Bank bought a new position in Fastenal in the second quarter worth $27,000. Private Wealth Management Group LLC boosted its stake in Fastenal by 111.9% during the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after buying an additional 339 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in Fastenal in the 2nd quarter valued at $27,000. Finally, Armstrong Advisory Group Inc. raised its stake in shares of Fastenal by 100.0% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after buying an additional 348 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FAST. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 15th. Jefferies Financial Group set a $52.00 price target on shares of Fastenal and gave the stock a “buy” rating in a research note on Monday, December 15th. UBS Group upgraded Fastenal from a “hold” rating to a “buy” rating and upped their price objective for the company from $45.00 to $52.00 in a research note on Monday, December 15th. Sanford C. Bernstein began coverage on Fastenal in a report on Tuesday, November 11th. They issued an “underperform” rating and a $38.00 target price for the company. Finally, Barclays decreased their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.73.

Insider Buying and Selling

In related news, Director Sarah N. Nielsen bought 1,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were purchased at an average cost of $39.60 per share, for a total transaction of $39,600.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $198,000. This represents a 25.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was bought at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the purchase, the director owned 10,000 shares of the company’s stock, valued at approximately $495,800. This represents a 11.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 3,000 shares of company stock valued at $131,630. 0.37% of the stock is owned by company insiders.

Fastenal Trading Up 0.0%

Shares of NASDAQ FAST opened at $42.35 on Monday. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The stock has a market cap of $48.62 billion, a price-to-earnings ratio of 39.58, a P/E/G ratio of 3.39 and a beta of 0.89. 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’s fifty day moving average is $41.33 and its 200-day moving average is $44.47.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the business posted $0.26 EPS. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts predict that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Dividend Announcement

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

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.