Signaturefd LLC Increases Holdings in Fastenal (NASDAQ:FAST)

Signaturefd LLC grew its holdings in shares of Fastenal (NASDAQ:FAST) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,339 shares of the company’s stock after buying an additional 891 shares during the quarter. Signaturefd LLC’s holdings in Fastenal were worth $475,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in shares of Fastenal by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company’s stock valued at $751,780,000 after buying an additional 423,112 shares in the last quarter. Morgan Stanley raised its position in shares of Fastenal by 4.1% during the 3rd quarter. Morgan Stanley now owns 8,582,669 shares of the company’s stock valued at $468,957,000 after buying an additional 337,168 shares in the last quarter. Northern Trust Corp raised its position in shares of Fastenal by 5.9% during the 3rd quarter. Northern Trust Corp now owns 7,444,498 shares of the company’s stock valued at $406,767,000 after buying an additional 413,572 shares in the last quarter. Invesco Ltd. raised its position in shares of Fastenal by 16.5% during the 3rd quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock valued at $368,563,000 after buying an additional 957,091 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Fastenal by 9.3% during the 3rd quarter. Royal Bank of Canada now owns 6,651,629 shares of the company’s stock valued at $363,445,000 after buying an additional 568,372 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. Robert W. Baird cut their price target 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. Loop Capital cut their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Finally, HSBC upped their price target on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.67.

Insiders Place Their Bets

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

Fastenal Price Performance

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

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

Fastenal Dividend Announcement

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

Fastenal Company 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.