Fastenal (NASDAQ:FAST) Shares Purchased by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC increased its stake in shares of Fastenal (NASDAQ:FAST) by 19.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 99,183 shares of the company’s stock after purchasing an additional 16,147 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Fastenal were worth $7,651,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FAST. Essex Financial Services Inc. lifted its stake in Fastenal by 1.8% during the fourth quarter. Essex Financial Services Inc. now owns 8,539 shares of the company’s stock worth $553,000 after purchasing an additional 148 shares in the last quarter. Penobscot Investment Management Company Inc. raised its holdings in shares of Fastenal by 1.1% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock valued at $1,030,000 after buying an additional 150 shares during the period. Panagora Asset Management Inc. lifted its stake in Fastenal by 0.8% during the 4th quarter. Panagora Asset Management Inc. now owns 19,095 shares of the company’s stock worth $1,237,000 after acquiring an additional 152 shares in the last quarter. Hartford Financial Management Inc. boosted its holdings in Fastenal by 46.9% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after acquiring an additional 153 shares during the period. Finally, Team Hewins LLC grew its position in Fastenal by 4.8% in the 1st quarter. Team Hewins LLC now owns 3,404 shares of the company’s stock valued at $263,000 after acquiring an additional 157 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Down 0.9 %

Shares of NASDAQ:FAST traded down $0.61 during trading on Wednesday, hitting $67.29. 1,849,513 shares of the company were exchanged, compared to its average volume of 3,712,514. The firm’s 50 day moving average price is $65.07 and its 200-day moving average price is $68.78. Fastenal has a 12-month low of $53.83 and a 12-month high of $79.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. The stock has a market capitalization of $38.53 billion, a P/E ratio of 33.61, a PEG ratio of 3.68 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the company earned $0.52 earnings per share. Fastenal’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, research analysts predict that Fastenal will post 2.06 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, July 26th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Thursday, July 25th. Fastenal’s dividend payout ratio is currently 77.61%.

Insider Activity

In other news, EVP James C. Jansen sold 11,428 shares of Fastenal stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total value of $732,191.96. Following the transaction, the executive vice president now directly owns 26,176 shares of the company’s stock, valued at approximately $1,677,096.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP James C. Jansen sold 11,428 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total transaction of $732,191.96. Following the completion of the sale, the executive vice president now owns 26,176 shares in the company, valued at $1,677,096.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Hsenghung Sam Hsu acquired 500 shares of Fastenal stock in a transaction on Monday, June 10th. The shares were bought at an average cost of $63.28 per share, with a total value of $31,640.00. Following the completion of the purchase, the director now owns 3,500 shares in the company, valued at $221,480. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and set a $80.00 price target (down previously from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Stephens reiterated an “equal weight” rating and set a $56.00 target price on shares of Fastenal in a report on Monday, July 15th. Jefferies Financial Group dropped their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Loop Capital reduced their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Finally, Robert W. Baird decreased their target price on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and an average price target of $66.67.

About Fastenal

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.