Pacer Advisors Inc. Has $5.23 Million Holdings in Fastenal Company $FAST

Pacer Advisors Inc. cut its stake in Fastenal Company (NASDAQ:FAST) by 41.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,690 shares of the company’s stock after selling 78,634 shares during the period. Pacer Advisors Inc.’s holdings in Fastenal were worth $5,229,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Integrated Wealth Concepts LLC increased its holdings in shares of Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after purchasing an additional 147 shares in the last quarter. Tandem Investment Advisors Inc. raised its position in Fastenal by 1.8% in the 1st quarter. Tandem Investment Advisors Inc. now owns 12,356 shares of the company’s stock worth $573,000 after purchasing an additional 224 shares during the last quarter. Sittner & Nelson LLC lifted its holdings in Fastenal by 0.3% during the 4th quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock worth $2,749,000 after buying an additional 226 shares in the last quarter. Founders Capital Management LLC lifted its holdings in Fastenal by 2.2% during the 4th quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock worth $418,000 after buying an additional 228 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its position in Fastenal by 12.9% in the 1st quarter. Sound Income Strategies LLC now owns 2,025 shares of the company’s stock valued at $94,000 after buying an additional 232 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fastenal

In related news, Director Michael J. Ancius sold 3,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total value of $147,000.00. Following the completion of the sale, the director owned 58,690 shares in the company, valued at $2,875,810. This represents a 4.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on FAST shares. Rothschild & Co Redburn set a $55.00 target price on Fastenal and gave the company a “buy” rating in a research note on Monday, July 13th. Robert W. Baird decreased their price target on Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Bank of America lifted their price objective on Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a report on Wednesday, July 15th. Finally, Weiss Ratings downgraded shares of Fastenal from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $48.83.

Fastenal Stock Performance

Shares of NASDAQ:FAST opened at $49.99 on Thursday. The firm’s 50 day simple moving average is $46.60 and its 200 day simple moving average is $45.73. Fastenal Company has a fifty-two week low of $38.97 and a fifty-two week high of $50.63. The company has a market capitalization of $57.36 billion, a price-to-earnings ratio of 42.36, a P/E/G ratio of 3.11 and a beta of 0.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 earnings per share. As a group, sell-side analysts forecast that Fastenal Company will post 1.25 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be issued a $0.26 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, July 28th. This represents a $1.04 annualized dividend and a dividend yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is presently 88.14%.

Fastenal Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.