Fastenal (NASDAQ:FAST) Shares Acquired by abrdn plc

abrdn plc lifted its holdings in Fastenal (NASDAQ:FAST) by 50.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 302,985 shares of the company’s stock after purchasing an additional 101,503 shares during the period. abrdn plc owned approximately 0.05% of Fastenal worth $19,624,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Hartford Financial Management Inc. boosted its stake in shares of Fastenal by 46.9% in the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after buying an additional 153 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Fastenal in the fourth quarter worth approximately $35,000. Pacific Center for Financial Services acquired a new position in Fastenal during the 3rd quarter worth approximately $66,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Fastenal by 77.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock valued at $70,000 after purchasing an additional 474 shares during the last quarter. Finally, Annapolis Financial Services LLC raised its holdings in shares of Fastenal by 23.3% in the 3rd quarter. Annapolis Financial Services LLC now owns 1,586 shares of the company’s stock valued at $87,000 after purchasing an additional 300 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Trading Up 0.3 %

NASDAQ:FAST opened at $67.74 on Thursday. The company has a market capitalization of $38.78 billion, a PE ratio of 33.53, a P/E/G ratio of 3.53 and a beta of 1.05. Fastenal has a 52-week low of $52.28 and a 52-week high of $79.04. The stock’s 50 day moving average price is $73.49 and its 200 day moving average price is $66.64. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06.

Fastenal (NASDAQ:FAST) last announced its earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts anticipate that Fastenal will post 2.12 EPS for the current year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be paid a dividend of $0.39 per share. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 annualized dividend and a dividend yield of 2.30%. Fastenal’s dividend payout ratio (DPR) is 77.23%.

Insider Buying and Selling

In related news, Director Daniel L. Johnson acquired 3,350 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was bought at an average cost of $68.38 per share, with a total value of $229,073.00. Following the transaction, the director now owns 10,595 shares of the company’s stock, valued at $724,486.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jeffery Michael Watts sold 19,420 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total value of $1,364,255.00. Following the completion of the sale, the insider now owns 5,940 shares in the company, valued at $417,285. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel L. Johnson acquired 3,350 shares of the stock in a transaction on Wednesday, April 17th. The stock was acquired at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the acquisition, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The disclosure for this purchase can be found here. Insiders have sold a total of 36,082 shares of company stock valued at $2,584,060 over the last quarter. 0.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FAST shares. Loop Capital dropped their target price on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday, April 15th. HSBC raised their target price on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Stifel Nicolaus increased their price target on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Robert W. Baird cut their price objective on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $67.67.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.