Natixis Advisors LLC Buys 56,350 Shares of Fastenal Company $FAST

Natixis Advisors LLC increased its stake in shares of Fastenal Company (NASDAQ:FAST) by 11.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 544,413 shares of the company’s stock after buying an additional 56,350 shares during the quarter. Natixis Advisors LLC’s holdings in Fastenal were worth $26,698,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC bought a new stake in Fastenal during the second quarter worth about $27,000. MV Capital Management Inc. grew its stake in Fastenal by 96.1% during the second quarter. MV Capital Management Inc. now owns 712 shares of the company’s stock worth $30,000 after buying an additional 349 shares in the last quarter. SOA Wealth Advisors LLC. increased its holdings in Fastenal by 71.6% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after buying an additional 255 shares during the period. REAP Financial Group LLC bought a new position in Fastenal in the 3rd quarter valued at about $30,000. Finally, First Horizon Corp acquired a new position in shares of Fastenal in the 3rd quarter valued at approximately $33,000. Institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FAST. Barclays increased their price target on shares of Fastenal from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, March 6th. Morgan Stanley reaffirmed a “positive” rating and issued a $45.00 target price on shares of Fastenal in a report on Thursday, March 5th. Wolfe Research boosted their price target on Fastenal from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Friday, February 27th. UBS Group reaffirmed a “neutral” rating and issued a $46.00 price objective on shares of Fastenal in a research note on Wednesday, January 21st. Finally, Robert W. Baird lifted their target price on Fastenal from $51.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.83.

Fastenal Stock Down 1.1%

Shares of NASDAQ:FAST opened at $46.30 on Wednesday. The company has a fifty day moving average of $44.58 and a 200-day moving average of $44.19. The company has a market capitalization of $53.17 billion, a PE ratio of 42.09, a price-to-earnings-growth ratio of 2.98 and a beta of 0.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter last year, the business posted $0.46 EPS. Fastenal’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities analysts predict that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. This is an increase from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, January 29th. Fastenal’s dividend payout ratio (DPR) is presently 87.27%.

Insider Activity at Fastenal

In related news, Director Scott Satterlee sold 15,964 shares of Fastenal stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the sale, the director directly owned 50,000 shares in the company, valued at $2,209,500. This trade represents a 24.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reyne K. Wisecup sold 36,920 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the sale, the director directly owned 40,000 shares in the company, valued at $1,893,600. The trade was a 48.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.28% of the company’s stock.

About Fastenal

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.