Fastenal Company $FAST Position Increased by Picton Mahoney Asset Management

Picton Mahoney Asset Management boosted its stake in shares of Fastenal Company (NASDAQ:FAST) by 101.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 366,458 shares of the company’s stock after purchasing an additional 184,976 shares during the quarter. Picton Mahoney Asset Management’s holdings in Fastenal were worth $15,390,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. boosted its holdings in shares of Fastenal by 97.9% during the second quarter. Ameritas Investment Partners Inc. now owns 68,923 shares of the company’s stock valued at $2,895,000 after acquiring an additional 34,088 shares during the period. Jefferies Financial Group Inc. lifted its position in Fastenal by 80.1% in the 2nd quarter. Jefferies Financial Group Inc. now owns 17,600 shares of the company’s stock valued at $739,000 after purchasing an additional 7,828 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Fastenal during the 2nd quarter valued at about $542,000. Prudential Financial Inc. boosted its stake in Fastenal by 123.2% during the 2nd quarter. Prudential Financial Inc. now owns 658,272 shares of the company’s stock valued at $27,647,000 after purchasing an additional 363,353 shares during the period. Finally, Coldstream Capital Management Inc. grew its position in Fastenal by 108.0% in the 2nd quarter. Coldstream Capital Management Inc. now owns 26,298 shares of the company’s stock worth $1,105,000 after purchasing an additional 13,653 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $39.91 on Monday. The company has a market capitalization of $45.82 billion, a PE ratio of 37.30, a price-to-earnings-growth ratio of 3.75 and a beta of 0.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. The stock has a fifty day moving average of $43.92 and a 200-day moving average of $44.41. Fastenal Company has a one year low of $35.31 and a one year high of $50.63.

Fastenal (NASDAQ:FAST) last announced its earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts anticipate that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, October 28th. Fastenal’s dividend payout ratio (DPR) is presently 82.24%.

Insider Activity at Fastenal

In other Fastenal news, Director Sarah N. Nielsen bought 1,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were bought at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $198,000. This trade represents a 25.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hsenghung Sam Hsu purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were bought at an average price of $49.58 per share, with a total value of $49,580.00. Following the completion of the acquisition, the director owned 10,000 shares of the company’s stock, valued at $495,800. This trade represents a 11.11% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 3,000 shares of company stock worth $131,630. 0.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FAST shares. Northcoast Research initiated coverage on Fastenal in a report on Thursday, August 21st. They set a “neutral” rating on the stock. Wolfe Research raised Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price target for the company in a research note on Thursday, November 13th. JPMorgan Chase & Co. upped their price objective on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, September 4th. Sanford C. Bernstein initiated coverage on shares of Fastenal in a research note on Tuesday, November 11th. They set an “underperform” rating and a $38.00 target price on the stock. Finally, Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $46.32.

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.