Oregon Public Employees Retirement Fund Has $6.44 Million Stock Position in Fastenal Company $FAST

Oregon Public Employees Retirement Fund lifted its holdings in shares of Fastenal Company (NASDAQ:FAST) by 32.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,222 shares of the company’s stock after acquiring an additional 32,084 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Fastenal were worth $6,435,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Riverview Trust Co increased its holdings in 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. Hilltop National Bank purchased a new position in shares of Fastenal during the second quarter valued at approximately $27,000. Private Wealth Management Group LLC grew its holdings in Fastenal by 111.9% during the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after buying an additional 339 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Fastenal in the 2nd quarter valued at $27,000. Finally, Armstrong Advisory Group Inc. raised its position in Fastenal by 100.0% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 696 shares of the company’s stock valued at $29,000 after buying an additional 348 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Activity at Fastenal

In related news, Director Hsenghung Sam Hsu purchased 1,000 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were bought at an average price of $49.58 per share, with a total value of $49,580.00. Following the acquisition, the director owned 10,000 shares of the company’s stock, valued at $495,800. This trade represents a 11.11% increase in their position. The purchase 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 company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average price of $39.60 per share, for a total transaction of $39,600.00. Following the purchase, the director owned 5,000 shares of the company’s stock, valued at $198,000. The trade was a 25.00% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 3,000 shares of company stock valued at $131,630. 0.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wolfe Research raised shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price objective on the stock in a report on Thursday, November 13th. UBS Group raised shares of Fastenal from a “hold” rating to a “buy” rating and raised their price target for the company from $45.00 to $52.00 in a research report on Monday, December 15th. 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. 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, Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.73.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $41.98 on Friday. The company has a market capitalization of $48.19 billion, a P/E ratio of 39.23, a price-to-earnings-growth ratio of 3.01 and a beta of 0.90. The company’s 50-day moving average is $41.01 and its 200 day moving average is $44.38. 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 fifty-two week low of $35.31 and a fifty-two week high of $50.63.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $2.13 billion during 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%.The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. On average, equities research analysts forecast that Fastenal Company will post 2.15 earnings per share for the current year.

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.