Insigneo Advisory Services LLC Takes $208,000 Position in Fastenal (NASDAQ:FAST)

Insigneo Advisory Services LLC bought a new position in shares of Fastenal (NASDAQ:FAST) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,908 shares of the company’s stock, valued at approximately $208,000.

Other large investors also recently bought and sold shares of the company. State Street Corp grew its position in shares of Fastenal by 5.1% during the third quarter. State Street Corp now owns 27,989,485 shares of the company’s stock worth $1,999,009,000 after buying an additional 1,346,863 shares in the last quarter. Marshall Wace LLP increased its position in shares of Fastenal by 4,008.2% in the 2nd quarter. Marshall Wace LLP now owns 756,241 shares of the company’s stock valued at $47,522,000 after purchasing an additional 737,833 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Fastenal by 19.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock valued at $241,161,000 after purchasing an additional 636,546 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Fastenal by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock worth $1,419,690,000 after purchasing an additional 608,596 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Fastenal during the second quarter worth $37,659,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FAST shares. UBS Group began coverage on Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target for the company. Bank of America began coverage on Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 price target for the company. Robert W. Baird increased their price target on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Morgan Stanley boosted their price objective on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Finally, Jefferies Financial Group increased their target price on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $76.80.

Insider Activity

In other news, insider William Joseph Drazkowski sold 16,362 shares of Fastenal stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.65, for a total value of $1,270,509.30. Following the sale, the insider now owns 5,997 shares of the company’s stock, valued at $465,667.05. The trade was a 73.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel L. Florness sold 31,818 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $24,168,521. This represents a 10.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 208,289 shares of company stock valued at $16,123,438. Company insiders own 0.41% of the company’s stock.

Fastenal Stock Performance

Shares of Fastenal stock opened at $80.32 on Tuesday. The firm’s fifty day simple moving average is $78.81 and its 200-day simple moving average is $70.98. Fastenal has a 12 month low of $61.33 and a 12 month high of $84.88. The stock has a market capitalization of $46.01 billion, a price-to-earnings ratio of 39.96, a PEG ratio of 4.79 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29.

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

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 25th were paid a $0.39 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.56 annualized dividend and a dividend yield of 1.94%. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

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.