Fastenal (NASDAQ:FAST) Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its stake in shares of Fastenal (NASDAQ:FAST) by 27.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 372,721 shares of the company’s stock after acquiring an additional 79,146 shares during the quarter. Lazard Asset Management LLC owned about 0.07% of Fastenal worth $28,750,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Epoch Investment Partners Inc. lifted its position in Fastenal by 14.9% in the first quarter. Epoch Investment Partners Inc. now owns 1,942,747 shares of the company’s stock valued at $149,864,000 after purchasing an additional 251,946 shares during the period. LRI Investments LLC acquired a new stake in shares of Fastenal in the first quarter valued at approximately $39,000. 1832 Asset Management L.P. increased its stake in shares of Fastenal by 13.8% during the 1st quarter. 1832 Asset Management L.P. now owns 61,216 shares of the company’s stock worth $4,722,000 after purchasing an additional 7,418 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Fastenal by 61.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 347,807 shares of the company’s stock worth $26,830,000 after purchasing an additional 131,887 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Fastenal by 2.1% during the 1st quarter. Toronto Dominion Bank now owns 341,300 shares of the company’s stock worth $26,328,000 after purchasing an additional 7,046 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Robert W. Baird cut their target price on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Jefferies Financial Group cut their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Stephens reaffirmed an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a research note on Monday, July 15th. Loop Capital lowered their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Finally, HSBC raised their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $66.67.

Fastenal Price Performance

Fastenal stock opened at $70.37 on Monday. The firm has a fifty day moving average of $65.20 and a 200-day moving average of $68.92. Fastenal has a 52-week low of $53.83 and a 52-week high of $79.04. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $40.30 billion, a P/E ratio of 35.01, a PEG ratio of 3.79 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the company earned $0.52 EPS. The firm’s revenue was up 1.8% on a year-over-year basis. As a group, analysts predict that Fastenal will post 2.06 EPS for the current year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, July 26th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, July 26th. This represents a $1.56 annualized dividend and a dividend yield of 2.22%. Fastenal’s dividend payout ratio is presently 77.61%.

Insider Buying and Selling

In other Fastenal news, Director Hsenghung Sam Hsu bought 500 shares of the business’s stock in a transaction on Monday, June 10th. The shares were bought at an average cost of $63.28 per share, with a total value of $31,640.00. Following the transaction, the director now directly owns 3,500 shares in the company, valued at approximately $221,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Hsenghung Sam Hsu purchased 500 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average cost of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the purchase, the director now owns 3,500 shares of the company’s stock, valued at $221,480. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James C. Jansen sold 11,428 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total value of $732,191.96. Following the completion of the sale, the executive vice president now directly owns 26,176 shares of the company’s stock, valued at $1,677,096.32. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Fastenal Profile

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.