Public Sector Pension Investment Board Buys 12,517 Shares of Fastenal Company $FAST

Public Sector Pension Investment Board lifted its stake in shares of Fastenal Company (NASDAQ:FAST) by 14.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,688 shares of the company’s stock after purchasing an additional 12,517 shares during the quarter. Public Sector Pension Investment Board’s holdings in Fastenal were worth $4,889,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc boosted its holdings in Fastenal by 33.9% in the third quarter. Atria Investments Inc now owns 179,673 shares of the company’s stock worth $8,811,000 after acquiring an additional 45,511 shares in the last quarter. ICW Investment Advisors LLC raised its position in shares of Fastenal by 0.6% during the third quarter. ICW Investment Advisors LLC now owns 71,613 shares of the company’s stock worth $3,512,000 after purchasing an additional 429 shares during the period. Wedbush Securities Inc. bought a new position in shares of Fastenal in the 3rd quarter worth $393,000. Varma Mutual Pension Insurance Co grew its position in Fastenal by 11.7% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 230,600 shares of the company’s stock valued at $11,309,000 after purchasing an additional 24,100 shares during the period. Finally, Caisse Des Depots ET Consignations raised its holdings in Fastenal by 4.8% during the third quarter. Caisse Des Depots ET Consignations now owns 131,548 shares of the company’s stock worth $6,451,000 after buying an additional 6,056 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $46.21 on Friday. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $53.06 billion, a PE ratio of 42.01, a PEG ratio of 2.93 and a beta of 0.89. The stock’s 50 day moving average price is $43.49 and its 200-day moving average price is $44.45. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.Fastenal’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $0.46 earnings per share. On average, equities analysts anticipate that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, January 29th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, January 29th. This is an increase from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is currently 87.27%.

Wall Street Analysts Forecast Growth

FAST has been the subject of a number of analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. UBS Group reaffirmed a “neutral” rating and issued a $46.00 price target on shares of Fastenal in a research report on Wednesday, January 21st. Wolfe Research decreased their price objective on Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a report on Wednesday, January 21st. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Finally, Barclays set a $43.00 target price on Fastenal and gave the company an “equal weight” rating in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Fastenal presently has an average rating of “Hold” and a consensus target price of $48.18.

Insider Transactions at Fastenal

In other Fastenal news, Director Scott Satterlee sold 15,964 shares of Fastenal stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $44.19, for a total value of $705,449.16. Following the sale, the director owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. The trade was a 24.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.37% of the company’s stock.

About Fastenal

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.