Fastenal (NASDAQ:FAST) Shares Bought by Integrated Investment Consultants LLC

23 Nov 2024, 09:06 by Teresa Graham · The Cerbat Gem

Integrated Investment Consultants LLC grew its holdings in Fastenal (NASDAQ:FAST – Free Report) by 13.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,476 shares of the company’s stock after buying an additional 631 shares during the quarter. Integrated Investment Consultants LLC’s holdings in Fastenal were worth $391,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Acadian Asset Management LLC grew its position in Fastenal by 84.5% during the first quarter. Acadian Asset Management LLC now owns 2,735 shares of the company’s stock worth $210,000 after buying an additional 1,253 shares during the period. EP Wealth Advisors LLC increased its stake in Fastenal by 7.6% in the 1st quarter. EP Wealth Advisors LLC now owns 8,112 shares of the company’s stock valued at $626,000 after purchasing an additional 573 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Fastenal by 61.1% during the first quarter. Canada Pension Plan Investment Board now owns 347,807 shares of the company’s stock worth $26,830,000 after purchasing an additional 131,887 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Fastenal by 13.8% during the first quarter. 1832 Asset Management L.P. now owns 61,216 shares of the company’s stock worth $4,722,000 after purchasing an additional 7,418 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Fastenal in the first quarter valued at $39,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Fastenal

In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,929,734.24. This represents a 14.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Charles S. Miller sold 23,480 shares of Fastenal stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total value of $1,970,441.60. The disclosure for this sale can be found here. Insiders sold a total of 208,289 shares of company stock worth $16,123,438 in the last ninety days. Insiders own 0.41% of the company’s stock.

Fastenal Stock Performance

NASDAQ FAST opened at $83.08 on Friday. The business’s 50-day moving average price is $76.26 and its 200 day moving average price is $69.72. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. Fastenal has a twelve month low of $59.47 and a twelve month high of $84.88. The company has a market capitalization of $47.60 billion, a PE ratio of 41.33, a price-to-earnings-growth ratio of 4.78 and a beta of 0.99.

Fastenal (NASDAQ:FAST – Get Free Report) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period in the prior year, the firm posted $0.52 EPS. The company’s revenue was up 3.5% on a year-over-year basis. On average, research analysts predict that Fastenal will post 2.03 earnings per share for the current year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, October 25th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.56 annualized dividend and a dividend yield of 1.88%. Fastenal’s dividend payout ratio is presently 77.61%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. UBS Group initiated coverage on shares of Fastenal in a report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price target on the stock. Stephens increased their price target on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Bank of America assumed coverage on Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective for the company. Finally, Robert W. Baird raised their price target on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $74.80.

Check Out Our Latest Analysis on Fastenal

Fastenal Profile

(Free Report)

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.