Asset Management One Co. Ltd. grew its position in Fastenal (NASDAQ:FAST) by 130.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 318,351 shares of the company’s stock after purchasing an additional 180,379 shares during the period. Asset Management One Co. Ltd. owned approximately 0.06% of Fastenal worth $10,375,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of FAST. Northwestern Mutual Investment Management Company LLC lifted its position in Fastenal by 0.5% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 43,484 shares of the company’s stock worth $2,796,000 after buying an additional 227 shares in the last quarter. Ironwood Investment Management LLC lifted its holdings in shares of Fastenal by 3.2% during the 1st quarter. Ironwood Investment Management LLC now owns 8,161 shares of the company’s stock worth $525,000 after acquiring an additional 250 shares during the period. ETF Managers Group LLC lifted its holdings in shares of Fastenal by 10.5% during the 1st quarter. ETF Managers Group LLC now owns 2,675 shares of the company’s stock worth $172,000 after acquiring an additional 254 shares during the period. Haverford Trust Co. lifted its holdings in Fastenal by 6.4% during the 1st quarter. Haverford Trust Co. now owns 4,255 shares of the company’s stock valued at $274,000 after purchasing an additional 255 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its holdings in Fastenal by 94.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 774 shares of the company’s stock valued at $25,000 after purchasing an additional 375 shares during the last quarter. Institutional investors and hedge funds own 83.85% of the company’s stock.
In other Fastenal news, Director Daniel L. Johnson purchased 2,500 shares of Fastenal stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average price of $30.49 per share, with a total value of $76,225.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael J. Ancius purchased 1,000 shares of Fastenal stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $28.99 per share, with a total value of $28,990.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 4,604 shares of company stock valued at $138,479. Insiders own 0.56% of the company’s stock.
NASDAQ FAST traded up $5.32 during trading hours on Friday, reaching $36.34. The company’s stock had a trading volume of 27,823,269 shares, compared to its average volume of 4,194,750. The stock has a market cap of $20.84 billion, a P/E ratio of 27.53, a P/E/G ratio of 1.43 and a beta of 1.24. The firm has a fifty day simple moving average of $31.59 and a 200-day simple moving average of $41.89. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.68 and a quick ratio of 2.13. Fastenal has a 52 week low of $24.00 and a 52 week high of $36.58.
Fastenal (NASDAQ:FAST) last released its earnings results on Friday, October 11th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.38 billion. Fastenal had a net margin of 14.74% and a return on equity of 32.27%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. On average, research analysts expect that Fastenal will post 1.37 earnings per share for the current year.
A number of equities analysts have weighed in on FAST shares. Morgan Stanley dropped their target price on shares of Fastenal from $31.50 to $29.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. ValuEngine lowered shares of Fastenal from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Raymond James dropped their price target on shares of Fastenal from $39.00 to $37.00 and set a “strong-buy” rating on the stock in a research report on Friday, July 12th. Zacks Investment Research upgraded shares of Fastenal from a “sell” rating to a “hold” rating and set a $34.00 price objective on the stock in a report on Tuesday, September 10th. Finally, BidaskClub upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Saturday, October 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Fastenal currently has an average rating of “Hold” and an average price target of $31.64.
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as 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.
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