Fastenal Company $FAST Shares Purchased by USS Investment Management Ltd

USS Investment Management Ltd increased its position in shares of Fastenal Company (NASDAQ:FAST) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,946,990 shares of the company’s stock after purchasing an additional 342,116 shares during the quarter. Fastenal accounts for 1.2% of USS Investment Management Ltd’s investment portfolio, making the stock its 16th biggest holding. USS Investment Management Ltd owned approximately 0.52% of Fastenal worth $238,682,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Fastenal by 1.6% during the third quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock worth $7,430,322,000 after buying an additional 2,346,045 shares in the last quarter. State Street Corp increased its position in Fastenal by 1.2% during the fourth quarter. State Street Corp now owns 54,734,674 shares of the company’s stock worth $2,196,502,000 after buying an additional 631,889 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Fastenal by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 47,297,047 shares of the company’s stock worth $1,898,031,000 after buying an additional 919,158 shares in the last quarter. Geode Capital Management LLC increased its position in Fastenal by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 37,699,836 shares of the company’s stock worth $1,508,216,000 after buying an additional 685,047 shares in the last quarter. Finally, Invesco Ltd. increased its position in Fastenal by 14.0% during the third quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock worth $893,307,000 after buying an additional 2,242,116 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on FAST. JPMorgan Chase & Co. raised their price target on Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Morgan Stanley reissued a “positive” rating and set a $45.00 price target on shares of Fastenal in a research report on Thursday, March 5th. Benchmark reissued a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Fastenal in a research report on Friday, March 27th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a research report on Thursday, June 4th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $49.85.

Fastenal Price Performance

Shares of Fastenal stock opened at $46.57 on Monday. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63. The stock has a market capitalization of $53.46 billion, a P/E ratio of 40.85, a PEG ratio of 2.96 and a beta of 0.73. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average price is $45.15 and its 200 day moving average price is $44.27.

Fastenal (NASDAQ:FAST) last issued its earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter last year, the firm earned $0.52 earnings per share. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, research analysts anticipate that Fastenal Company will post 1.24 earnings per share for the current year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th were issued a $0.24 dividend. The ex-dividend date was Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. Fastenal’s dividend payout ratio (DPR) is presently 84.21%.

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.