Headlands Technologies LLC Acquires 43,411 Shares of Fastenal Company $FAST

Headlands Technologies LLC grew its holdings in Fastenal Company (NASDAQ:FAST) by 95.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,077 shares of the company’s stock after buying an additional 43,411 shares during the quarter. Headlands Technologies LLC’s holdings in Fastenal were worth $4,278,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FAST. GTS Securities LLC boosted its position in shares of Fastenal by 37.8% during the 2nd quarter. GTS Securities LLC now owns 13,633 shares of the company’s stock valued at $655,000 after acquiring an additional 3,740 shares in the last quarter. Flputnam Investment Management Co. raised its position in Fastenal by 797.6% in the second quarter. Flputnam Investment Management Co. now owns 75,974 shares of the company’s stock worth $3,649,000 after purchasing an additional 67,510 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Fastenal by 4.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 89,045 shares of the company’s stock worth $4,277,000 after purchasing an additional 4,088 shares during the period. Greenwood Capital Associates LLC lifted its stake in Fastenal by 17.0% during the second quarter. Greenwood Capital Associates LLC now owns 38,355 shares of the company’s stock worth $1,842,000 after purchasing an additional 5,566 shares during the period. Finally, New Mexico Educational Retirement Board boosted its holdings in Fastenal by 9.0% during the second quarter. New Mexico Educational Retirement Board now owns 57,152 shares of the company’s stock valued at $2,745,000 after purchasing an additional 4,700 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Fastenal Price Performance

Shares of FAST opened at $49.78 on Monday. The company has a market capitalization of $57.12 billion, a P/E ratio of 42.19, a PEG ratio of 3.11 and a beta of 0.72. Fastenal Company has a one year low of $38.97 and a one year high of $52.92. The business’s 50 day simple moving average is $48.45 and its 200-day simple moving average is $46.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS. As a group, sell-side analysts predict that Fastenal Company will post 1.26 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th were issued a $0.26 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, July 28th. Fastenal’s dividend payout ratio (DPR) is presently 88.14%.

Insider Transactions at Fastenal

In other Fastenal news, Director Rita J. Heise sold 34,964 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total value of $1,749,948.20. Following the completion of the sale, the director owned 20,000 shares in the company, valued at approximately $1,001,000. This trade represents a 63.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Ancius sold 3,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the completion of the transaction, the director directly owned 58,690 shares of the company’s stock, valued at approximately $2,875,810. This represents a 4.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the topic of several analyst reports. DA Davidson reiterated a “neutral” rating and issued a $46.00 price objective on shares of Fastenal in a research note on Wednesday, July 15th. Weiss Ratings raised Fastenal from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. Barclays lowered their price target on Fastenal from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 16th. Wolfe Research reiterated an “underperform” rating and set a $47.00 price objective on shares of Fastenal in a research note on Thursday, July 9th. Finally, Rothschild & Co Redburn set a $55.00 price objective on Fastenal and gave the company a “buy” rating in a report on Monday, July 13th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $49.17.

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.