Fastenal Company $FAST Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC raised its position in shares of Fastenal Company (NASDAQ:FAST) by 12.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 874,887 shares of the company’s stock after purchasing an additional 96,580 shares during the period. NEOS Investment Management LLC’s holdings in Fastenal were worth $42,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Elyxium Wealth LLC bought a new stake in shares of Fastenal during the fourth quarter valued at approximately $25,000. Palladiem LLC bought a new position in Fastenal in the 4th quarter worth approximately $25,000. Evergreen Advisors LLC acquired a new stake in Fastenal in the 1st quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Fastenal in the 2nd quarter valued at approximately $26,000. Finally, MV Capital Management Inc. bought a new stake in Fastenal during the 4th quarter valued at $29,000. Institutional investors own 81.38% of the company’s stock.

Insider Activity

In other Fastenal news, Director Michael Ancius sold 3,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total value of $147,000.00. Following the sale, the director directly owned 58,690 shares in the company, valued at approximately $2,875,810. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rita J. Heise sold 34,964 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total transaction of $1,749,948.20. Following the completion of the sale, the director directly owned 20,000 shares of the company’s stock, valued at $1,001,000. The trade was a 63.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FAST shares. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a research report on Wednesday, July 15th. Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a report on Thursday, June 4th. Morgan Stanley lifted their price objective on shares of Fastenal from $48.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Rothschild & Co Redburn set a $55.00 price objective on shares of Fastenal and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, Wolfe Research reiterated an “underperform” rating and issued a $47.00 target price on shares of Fastenal in a research report on Thursday, July 9th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $49.17.

Fastenal Stock Performance

Shares of NASDAQ FAST opened at $49.23 on Friday. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $52.92. The firm has a market cap of $56.49 billion, a P/E ratio of 41.72, a PEG ratio of 2.99 and a beta of 0.72. The stock has a fifty day moving average price of $48.66 and a two-hundred day moving average price of $46.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 4.18.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 EPS for the quarter, hitting analysts’ consensus estimates of $0.33. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 EPS. Research analysts forecast that Fastenal Company will post 1.26 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, July 28th. This is an increase from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. Fastenal’s dividend payout ratio 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.