Natixis Advisors L.P. grew its position in Fastenal (NASDAQ:FAST) by 105.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 201,663 shares of the company’s stock after purchasing an additional 103,358 shares during the period. Natixis Advisors L.P.’s holdings in Fastenal were worth $6,572,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FAST. Bank of New York Mellon Corp grew its holdings in Fastenal by 92.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 31,430,053 shares of the company’s stock worth $1,024,304,000 after buying an additional 15,082,989 shares in the last quarter. BlackRock Inc. boosted its position in Fastenal by 1.8% during the 1st quarter. BlackRock Inc. now owns 20,274,336 shares of the company’s stock worth $1,303,845,000 after acquiring an additional 354,493 shares during the period. Cantillon Capital Management LLC boosted its position in Fastenal by 96.1% during the 2nd quarter. Cantillon Capital Management LLC now owns 6,335,959 shares of the company’s stock worth $206,488,000 after acquiring an additional 3,105,434 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Fastenal by 108.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,386,857 shares of the company’s stock worth $142,968,000 after purchasing an additional 2,277,563 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Fastenal by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 4,165,575 shares of the company’s stock worth $217,478,000 after purchasing an additional 225,481 shares in the last quarter. Hedge funds and other institutional investors own 84.90% of the company’s stock.
Shares of FAST traded up $0.45 during midday trading on Wednesday, reaching $33.24. The stock had a trading volume of 148,265 shares, compared to its average volume of 3,381,574. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.68 and a quick ratio of 2.13. The company has a market capitalization of $18.39 billion, a P/E ratio of 25.19, a P/E/G ratio of 1.46 and a beta of 1.23. The firm’s 50 day moving average price is $30.40 and its 200-day moving average price is $46.41. Fastenal has a 52 week low of $24.00 and a 52 week high of $35.94.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, July 25th were issued a $0.22 dividend. The ex-dividend date was Wednesday, July 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.65%. Fastenal’s payout ratio is currently 66.67%.
In related news, Director Michael J. Ancius bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $28.99 per share, for a total transaction of $28,990.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel L. Johnson bought 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $30.49 per share, for a total transaction of $76,225.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 4,604 shares of company stock valued at $138,479. Company insiders own 0.62% of the company’s stock.
A number of research analysts have recently commented on FAST shares. Zacks Investment Research raised Fastenal from a “sell” rating to a “hold” rating and set a $34.00 price target on the stock in a report on Tuesday. ValuEngine lowered shares of Fastenal from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 23rd. Morgan Stanley decreased 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 report on Friday, July 12th. BidaskClub raised shares of Fastenal from a “sell” rating to a “hold” rating in a research note on Friday, August 16th. Finally, Wells Fargo & Co dropped their price target on shares of Fastenal from $35.00 to $30.00 and set a “market perform” rating on the stock in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $31.50.
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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