Xponance Inc. Has $7.38 Million Stock Position in Fastenal (NASDAQ:FAST)

Xponance Inc. cut its holdings in shares of Fastenal (NASDAQ:FAST) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 113,875 shares of the company’s stock after selling 2,402 shares during the quarter. Xponance Inc.’s holdings in Fastenal were worth $7,376,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new position in Fastenal in the 4th quarter valued at approximately $268,570,000. Morgan Stanley increased its stake in shares of Fastenal by 37.8% in the fourth quarter. Morgan Stanley now owns 9,092,207 shares of the company’s stock worth $430,243,000 after acquiring an additional 2,492,722 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Fastenal by 47.3% during the third quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company’s stock worth $256,344,000 after acquiring an additional 1,505,936 shares in the last quarter. Invesco Ltd. boosted its position in Fastenal by 16.5% during the third quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock valued at $368,563,000 after purchasing an additional 957,091 shares during the last quarter. Finally, Select Equity Group L.P. raised its stake in shares of Fastenal by 60.2% during the 1st quarter. Select Equity Group L.P. now owns 2,481,822 shares of the company’s stock worth $133,869,000 after purchasing an additional 933,068 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Trading Up 0.1 %

Fastenal stock opened at $67.57 on Friday. Fastenal has a 12 month low of $52.28 and a 12 month high of $79.04. The stock has a market cap of $38.69 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 3.53 and a beta of 1.05. The business has a 50 day moving average price of $73.62 and a two-hundred day moving average price of $66.29. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06.

Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $0.52 earnings per share. As a group, equities analysts forecast that Fastenal will post 2.13 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Insiders Place Their Bets

In other news, VP Charles S. Miller sold 23,590 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $69.25, for a total value of $1,633,607.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jeffery Michael Watts sold 19,420 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total transaction of $1,364,255.00. Following the completion of the sale, the insider now directly owns 5,940 shares of the company’s stock, valued at approximately $417,285. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Charles S. Miller sold 23,590 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $69.25, for a total value of $1,633,607.50. The disclosure for this sale can be found here. Insiders sold a total of 71,640 shares of company stock worth $5,044,657 over the last quarter. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Robert W. Baird lowered their price target on Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Stifel Nicolaus raised their target price on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. HSBC upped their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Finally, Loop Capital dropped their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $67.67.

About Fastenal

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.