Investment Management Corp of Ontario Has $10.21 Million Holdings in Fastenal Company $FAST

Investment Management Corp of Ontario lifted its stake in shares of Fastenal Company (NASDAQ:FAST) by 174.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 243,200 shares of the company’s stock after buying an additional 154,667 shares during the quarter. Investment Management Corp of Ontario’s holdings in Fastenal were worth $10,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Integrated Wealth Concepts LLC boosted its stake in Fastenal by 2.4% during the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after acquiring an additional 147 shares in the last quarter. Advisory Alpha LLC raised its holdings in shares of Fastenal by 5.8% during the first quarter. Advisory Alpha LLC now owns 3,407 shares of the company’s stock valued at $264,000 after purchasing an additional 187 shares during the period. Riverview Trust Co boosted its position in shares of Fastenal by 100.0% during the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after purchasing an additional 292 shares in the last quarter. Financial Network Wealth Advisors LLC boosted its position in shares of Fastenal by 19.4% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,980 shares of the company’s stock worth $154,000 after purchasing an additional 322 shares in the last quarter. Finally, Private Wealth Management Group LLC grew its stake in shares of Fastenal by 111.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after buying an additional 339 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In related news, Director Hsenghung Sam Hsu purchased 1,000 shares of Fastenal stock in a transaction that occurred on Thursday, November 13th. The stock was bought at an average price of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at $495,800. This represents a 11.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sarah N. Nielsen acquired 1,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was bought at an average cost of $39.60 per share, for a total transaction of $39,600.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $198,000. This trade represents a 25.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 3,000 shares of company stock valued at $131,630. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

FAST has been the topic of a number of research reports. Robert W. Baird dropped their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. Northcoast Research started coverage on Fastenal in a report on Thursday, August 21st. They set a “neutral” rating for the company. JPMorgan Chase & Co. upped their target price on Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. Sanford C. Bernstein initiated coverage on Fastenal in a report on Tuesday, November 11th. They issued an “underperform” rating and a $38.00 target price on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and a consensus target price of $46.70.

Fastenal Stock Down 1.7%

Fastenal stock opened at $40.80 on Tuesday. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. The firm’s 50-day simple moving average is $42.36 and its 200 day simple moving average is $44.42. The stock has a market cap of $46.84 billion, a PE ratio of 38.13, a price-to-earnings-growth ratio of 3.30 and a beta of 0.89.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.Fastenal’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 EPS. Research analysts predict that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, October 28th. Fastenal’s dividend payout ratio is 82.24%.

Fastenal Profile

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.