Fastenal (NASDAQ:FAST) Shares Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its holdings in Fastenal (NASDAQ:FAST) by 11.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,249 shares of the company’s stock after purchasing an additional 525 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Fastenal were worth $337,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. GAMMA Investing LLC bought a new position in shares of Fastenal in the fourth quarter worth $488,000. Larson Financial Group LLC boosted its stake in Fastenal by 2,899.6% during the fourth quarter. Larson Financial Group LLC now owns 8,069 shares of the company’s stock valued at $523,000 after buying an additional 7,800 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in Fastenal by 22.4% during the fourth quarter. Illinois Municipal Retirement Fund now owns 204,835 shares of the company’s stock valued at $13,267,000 after buying an additional 37,503 shares in the last quarter. RWA Wealth Partners LLC bought a new position in Fastenal during the fourth quarter valued at about $206,000. Finally, Sage Mountain Advisors LLC bought a new position in Fastenal during the fourth quarter valued at about $212,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Trading Up 0.9 %

Shares of NASDAQ:FAST traded up $0.62 during midday trading on Wednesday, reaching $67.74. The company had a trading volume of 3,063,444 shares, compared to its average volume of 4,031,689. The company has a fifty day simple moving average of $73.54 and a two-hundred day simple moving average of $66.63. The firm has a market cap of $38.78 billion, a price-to-earnings ratio of 33.63, a price-to-earnings-growth ratio of 3.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. Fastenal has a 1-year low of $52.28 and a 1-year high of $79.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. Research analysts predict that Fastenal will post 2.12 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s dividend payout ratio is currently 77.23%.

Insider Buying and Selling

In other Fastenal news, Director Daniel L. Johnson acquired 3,350 shares of Fastenal stock in a transaction that occurred on Wednesday, April 17th. The stock was purchased at an average cost of $68.38 per share, with a total value of $229,073.00. Following the purchase, the director now owns 10,595 shares in the company, valued at $724,486.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider William Joseph Drazkowski sold 11,968 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $69.10, for a total transaction of $826,988.80. Following the completion of the sale, the insider now directly owns 5,997 shares of the company’s stock, valued at approximately $414,392.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel L. Johnson purchased 3,350 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average cost of $68.38 per share, with a total value of $229,073.00. Following the completion of the purchase, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 48,050 shares of company stock valued at $3,411,049. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FAST shares. Loop Capital decreased their target price on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. HSBC raised their target price on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Robert W. Baird decreased their price target on Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Finally, Stifel Nicolaus increased their price target on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Fastenal has a consensus rating of “Hold” and an average target price of $67.67.

Fastenal Company Profile

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.