Versor Investments LP Buys Shares of 12,900 Fastenal (NASDAQ:FAST)

Versor Investments LP purchased a new position in shares of Fastenal (NASDAQ:FAST) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,900 shares of the company’s stock, valued at approximately $921,000.

Several other institutional investors have also modified their holdings of FAST. Ashton Thomas Securities LLC acquired a new position in Fastenal in the 3rd quarter worth $25,000. Central Valley Advisors LLC bought a new position in shares of Fastenal during the second quarter worth about $28,000. Moisand Fitzgerald Tamayo LLC raised its position in Fastenal by 1,019.0% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after buying an additional 428 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Fastenal in the first quarter valued at approximately $39,000. Finally, First Personal Financial Services bought a new stake in shares of Fastenal in the third quarter worth $36,000. Institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FAST. Stephens lifted their price target on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. increased their price target on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Bank of America began coverage on Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price target on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $86.00 price objective (up previously from $80.00) on shares of Fastenal in a report on Monday, October 14th. Finally, Robert W. Baird upped their price target on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $73.33.

Fastenal Stock Performance

NASDAQ FAST opened at $83.50 on Wednesday. The stock has a market cap of $47.84 billion, a PE ratio of 41.54, a P/E/G ratio of 4.88 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. The firm has a 50-day moving average of $73.61 and a 200-day moving average of $68.83. Fastenal has a 52-week low of $59.47 and a 52-week high of $84.88.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts anticipate that Fastenal will post 2.03 EPS for the current year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s payout ratio is 77.61%.

Insider Activity

In related news, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,489,266.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider William Joseph Drazkowski sold 16,362 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.65, for a total transaction of $1,270,509.30. Following the sale, the insider now directly owns 5,997 shares of the company’s stock, valued at approximately $465,667.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel L. Florness sold 45,744 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,489,266.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 222,079 shares of company stock valued at $16,563,600. 0.41% of the stock is owned by company insiders.

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.