State of Alaska Department of Revenue raised its holdings in shares of Fastenal (NASDAQ:FAST) by 63.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,974 shares of the company’s stock after purchasing an additional 35,369 shares during the period. State of Alaska Department of Revenue’s holdings in Fastenal were worth $5,276,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. CIBC World Markets Inc. grew its position in shares of Fastenal by 5.6% during the second quarter. CIBC World Markets Inc. now owns 17,952 shares of the company’s stock worth $864,000 after acquiring an additional 960 shares during the last quarter. Raymond James Trust N.A. grew its position in shares of Fastenal by 2.3% during the second quarter. Raymond James Trust N.A. now owns 42,630 shares of the company’s stock worth $2,052,000 after acquiring an additional 968 shares during the last quarter. Bradley Foster & Sargent Inc. CT grew its position in shares of Fastenal by 1.9% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 51,169 shares of the company’s stock worth $2,463,000 after acquiring an additional 975 shares during the last quarter. Boston Research & Management Inc. grew its position in shares of Fastenal by 1.4% during the second quarter. Boston Research & Management Inc. now owns 75,678 shares of the company’s stock worth $3,642,000 after acquiring an additional 1,010 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Fastenal by 2.4% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 43,640 shares of the company’s stock valued at $2,100,000 after buying an additional 1,036 shares in the last quarter. Hedge funds and other institutional investors own 85.85% of the company’s stock.

Shares of FAST opened at $52.07 on Friday. The stock has a market capitalization of $16.65 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.62 and a beta of 0.92. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.62 and a quick ratio of 2.57. Fastenal has a 52-week low of $45.96 and a 52-week high of $61.14.

Fastenal (NASDAQ:FAST) last announced its earnings results on Wednesday, October 10th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.02. Fastenal had a net margin of 14.57% and a return on equity of 30.82%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the firm posted $0.50 EPS. Fastenal’s revenue was up 13.0% compared to the same quarter last year. Equities research analysts expect that Fastenal will post 2.56 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, October 24th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Tuesday, October 23rd. Fastenal’s payout ratio is 82.90%.

FAST has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research report on Tuesday, August 21st. Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Robert W. Baird lowered shares of Fastenal from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 3rd. Stifel Nicolaus increased their target price on shares of Fastenal from $53.00 to $56.00 and gave the company a “hold” rating in a research report on Friday, July 13th. Finally, Northcoast Research set a $60.00 target price on shares of Fastenal and gave the company a “buy” rating in a research report on Friday, July 13th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $57.11.

Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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