Robeco Institutional Asset Management B.V. Increases Stock Position in Fastenal Company $FAST

Robeco Institutional Asset Management B.V. lifted its stake in shares of Fastenal Company (NASDAQ:FAST) by 27.5% in the third quarter, Holdings Channel reports. The firm owned 151,526 shares of the company’s stock after buying an additional 32,681 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Fastenal were worth $7,431,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Riverview Trust Co increased its holdings in shares of Fastenal by 100.0% in the second quarter. Riverview Trust Co now owns 584 shares of the company’s stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. 1248 Management LLC purchased a new position in Fastenal during the 1st quarter valued at about $45,000. SOA Wealth Advisors LLC. lifted its position in shares of Fastenal by 71.6% during the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after purchasing an additional 255 shares in the last quarter. Private Wealth Management Group LLC increased its stake in Fastenal by 111.9% during the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after buying an additional 339 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Fastenal in the second quarter worth $27,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insiders Place Their Bets

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

Fastenal Stock Up 0.4%

FAST opened at $41.98 on Friday. The company has a market cap of $48.19 billion, a PE ratio of 39.23, a price-to-earnings-growth ratio of 3.00 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The firm has a 50 day moving average price of $41.01 and a 200 day moving average price of $44.36.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 EPS. Sell-side analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FAST shares. Barclays reduced their price objective on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, November 13th. Robert W. Baird dropped their target price on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a research report on Monday, December 29th. Jefferies Financial Group set a $52.00 price objective on shares of Fastenal and gave the company a “buy” rating in a research note on Monday, December 15th. Finally, Wolfe Research raised Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price target on the stock in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Fastenal presently has an average rating of “Hold” and a consensus target price of $48.73.

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.