Canada Pension Plan Investment Board Lowers Stock Holdings in Fastenal (NASDAQ:FAST)

Canada Pension Plan Investment Board trimmed its position in shares of Fastenal (NASDAQ:FASTFree Report) by 10.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 230,320 shares of the company’s stock after selling 26,900 shares during the period. Canada Pension Plan Investment Board’s holdings in Fastenal were worth $12,585,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in FAST. Norges Bank bought a new position in Fastenal during the 4th quarter valued at about $268,570,000. Bank of Montreal Can bought a new position in Fastenal during the 2nd quarter valued at about $173,831,000. Morgan Stanley grew its holdings in Fastenal by 37.8% during the 4th quarter. Morgan Stanley now owns 9,092,207 shares of the company’s stock valued at $430,243,000 after purchasing an additional 2,492,722 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Fastenal by 18.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 13,407,839 shares of the company’s stock valued at $786,655,000 after purchasing an additional 2,075,023 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in Fastenal by 68.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 3,331,090 shares of the company’s stock valued at $196,501,000 after purchasing an additional 1,356,725 shares during the last quarter. 78.47% of the stock is currently owned by institutional investors.

Insider Transactions at Fastenal

In other Fastenal news, EVP Anthony Paul Broersma sold 5,586 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total value of $387,333.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fastenal news, EVP Anthony Paul Broersma sold 5,586 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total value of $387,333.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John Lewis Soderberg sold 400 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $63.17, for a total transaction of $25,268.00. Following the completion of the sale, the vice president now owns 488 shares of the company’s stock, valued at $30,826.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,120 shares of company stock valued at $9,322,231. Company insiders own 0.45% of the company’s stock.

Fastenal Price Performance

Shares of FAST opened at $70.02 on Monday. The company has a 50 day moving average price of $65.52 and a 200-day moving average price of $60.34. Fastenal has a fifty-two week low of $50.30 and a fifty-two week high of $70.95. The stock has a market capitalization of $40.07 billion, a PE ratio of 34.66, a PEG ratio of 3.62 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.27 and a current ratio of 4.57.

Fastenal (NASDAQ:FASTGet Free Report) last announced its quarterly earnings results on Thursday, January 18th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. Fastenal had a net margin of 15.72% and a return on equity of 34.31%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the company earned $0.43 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. Equities analysts predict that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Stockholders of record on Thursday, February 1st will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Wednesday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.38. Fastenal’s dividend payout ratio is presently 77.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FAST shares. Robert W. Baird upped their target price on shares of Fastenal from $62.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Stifel Nicolaus upped their target price on shares of Fastenal from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Fastenal has an average rating of “Hold” and an average price target of $62.17.

View Our Latest Stock Analysis on FAST

Fastenal Profile

(Free Report)

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, 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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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