Ethic Inc. Buys 6,300 Shares of Fastenal (NASDAQ:FAST)

Ethic Inc. raised its stake in shares of Fastenal (NASDAQ:FAST) by 45.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,077 shares of the company’s stock after purchasing an additional 6,300 shares during the period. Ethic Inc.’s holdings in Fastenal were worth $1,044,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FAST. Cypress Capital Management LLC WY bought a new position in shares of Fastenal in the 1st quarter worth about $25,000. CSat Investment Advisory L.P. raised its position in shares of Fastenal by 52.7% in the 1st quarter. CSat Investment Advisory L.P. now owns 643 shares of the company’s stock worth $32,000 after acquiring an additional 222 shares in the last quarter. Providence Capital Advisors LLC bought a new position in shares of Fastenal in the 1st quarter worth about $34,000. Clean Yield Group bought a new stake in Fastenal in the 2nd quarter valued at about $36,000. Finally, Arkadios Wealth Advisors bought a new stake in Fastenal in the 2nd quarter valued at about $39,000. 77.47% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently commented on FAST shares. Stephens boosted their target price on Fastenal from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, August 23rd. Morgan Stanley downgraded Fastenal from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $53.00 to $48.00 in a research note on Tuesday, June 15th. They noted that the move was a valuation call. Robert W. Baird lifted their price target on Fastenal from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, July 14th. Finally, Loop Capital started coverage on Fastenal in a research note on Tuesday, August 3rd. They set a “hold” rating and a $52.00 price target for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $53.00.

In other Fastenal news, Director Hsenghung Sam Hsu bought 1,000 shares of the stock in a transaction on Monday, September 13th. The shares were acquired at an average price of $53.20 per share, with a total value of $53,200.00. Following the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $159,600. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Charles S. Miller sold 35,141 shares of the company’s stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $55.10, for a total transaction of $1,936,269.10. The disclosure for this sale can be found here. In the last three months, insiders have acquired 2,265 shares of company stock worth $123,014 and have sold 142,089 shares worth $7,910,739. Insiders own 0.56% of the company’s stock.

NASDAQ:FAST opened at $53.04 on Wednesday. The company has a current ratio of 4.16, a quick ratio of 2.12 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $30.48 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 3.83 and a beta of 1.28. The firm’s 50 day moving average is $54.66 and its 200 day moving average is $52.26. Fastenal has a 12 month low of $42.57 and a 12 month high of $56.39.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Monday, July 12th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Fastenal had a net margin of 15.24% and a return on equity of 30.76%. Fastenal’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. Research analysts predict that Fastenal will post 1.56 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 24th. Shareholders of record on Tuesday, July 27th were issued a dividend of $0.28 per share. The ex-dividend date was Monday, July 26th. This represents a $1.12 dividend on an annualized basis and a yield of 2.11%. Fastenal’s payout ratio is 75.17%.

Fastenal Profile

Fastenal Co engages in the provision of fasteners, tools, and supplies which can help in the manufacture of products, build structures, protect personnel, and maintain facilities and equipment. It products include cutting tools & metalworking, fasteners, material handling, storage & packaging power, transmission & motors, tools & equipment, electricals, abrasives, hydraulics & pneumatics, plumbing, lifting & rigging, raw materials, fleet & automotive, welding, office products & furniture, janitorial and lighting.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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