Fastenal Company $FAST Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its position in Fastenal Company (NASDAQ:FAST) by 102.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,352,497 shares of the company’s stock after acquiring an additional 1,193,329 shares during the period. Mackenzie Financial Corp owned about 0.20% of Fastenal worth $98,805,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Riverview Trust Co increased its stake in Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. Hilltop National Bank purchased a new stake in Fastenal in the 2nd quarter valued at about $27,000. Private Wealth Management Group LLC increased its stake in shares of Fastenal by 111.9% during the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after acquiring an additional 339 shares during the last quarter. Armstrong Advisory Group Inc. lifted its holdings in shares of Fastenal by 100.0% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock worth $29,000 after acquiring an additional 348 shares during the period. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Fastenal by 95.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 702 shares of the company’s stock worth $29,000 after acquiring an additional 342 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FAST. Barclays lowered their target price on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating for the company in a report on Thursday, November 13th. Robert W. Baird lowered their price objective on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. JPMorgan Chase & Co. increased their target price on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. Northcoast Research started coverage on Fastenal in a report on Thursday, August 21st. They issued a “neutral” rating on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.32.

Insider Activity

In other news, Director Sarah N. Nielsen acquired 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 completion of the purchase, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hsenghung Sam Hsu bought 1,000 shares of Fastenal stock in a transaction dated Thursday, November 13th. The shares were purchased at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the transaction, the director owned 10,000 shares of the company’s stock, valued at approximately $495,800. This represents a 11.11% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 3,000 shares of company stock worth $131,630. Company insiders own 0.37% of the company’s stock.

Fastenal Stock Performance

Shares of FAST stock opened at $40.42 on Friday. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. The company has a market cap of $46.40 billion, a PE ratio of 37.77, a P/E/G ratio of 3.75 and a beta of 0.92. The company’s fifty day simple moving average is $43.20 and its 200-day simple moving average is $44.39. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Tuesday, October 14th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the company posted $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 research analysts anticipate that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th were paid a $0.22 dividend. The ex-dividend date was Tuesday, October 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.2%. Fastenal’s dividend payout ratio (DPR) is 82.24%.

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.