21,881 Shares in Fastenal Company $FAST Acquired by Ninepoint Partners LP

Ninepoint Partners LP bought a new position in Fastenal Company (NASDAQ:FAST) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,881 shares of the company’s stock, valued at approximately $1,051,000.

Other institutional investors also recently bought and sold shares of the company. Wiregrass Investment Management LLC purchased a new position in shares of Fastenal during the 4th quarter worth about $1,020,000. Swiss Life Asset Management Ltd increased its position in Fastenal by 2.7% during the fourth quarter. Swiss Life Asset Management Ltd now owns 1,491,994 shares of the company’s stock worth $59,874,000 after purchasing an additional 39,406 shares during the last quarter. Fideuram Asset Management Ireland dac acquired a new position in Fastenal during the fourth quarter worth approximately $4,041,000. National Pension Service raised its stake in Fastenal by 2.9% during the fourth quarter. National Pension Service now owns 1,603,839 shares of the company’s stock worth $64,362,000 after purchasing an additional 45,260 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Fastenal by 16.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 6,820,172 shares of the company’s stock worth $273,699,000 after purchasing an additional 959,731 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Michael J. Ancius sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the transaction, the director directly owned 58,690 shares of the company’s stock, valued at approximately $2,875,810. The trade was a 4.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Rita J. Heise sold 34,964 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total value of $1,749,948.20. Following the completion of the transaction, the director owned 20,000 shares of the company’s stock, valued at approximately $1,001,000. This represents a 63.61% decrease in their position. The SEC filing for this sale provides additional information. 0.28% of the stock is owned by corporate insiders.

Fastenal Price Performance

Fastenal stock opened at $50.66 on Friday. Fastenal Company has a 52-week low of $38.97 and a 52-week high of $52.92. The firm has a fifty day moving average of $47.86 and a 200-day moving average of $46.33. The firm has a market capitalization of $58.13 billion, a P/E ratio of 42.93, a PEG ratio of 3.21 and a beta of 0.72. The company has a quick ratio of 2.21, a current ratio of 4.18 and a debt-to-equity ratio of 0.01.

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

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th will be paid a dividend of $0.26 per share. This is a boost 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 is Tuesday, July 28th. Fastenal’s payout ratio is presently 88.14%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, July 16th. Weiss Ratings cut Fastenal from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a research report on Thursday, June 4th. Wolfe Research restated an “underperform” rating and set a $47.00 price target on shares of Fastenal in a research note on Thursday, July 9th. Finally, DA Davidson restated a “neutral” rating and issued a $46.00 price objective on shares of Fastenal in a report on Wednesday, July 15th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.