Candriam S.C.A. Raises Stake in Fastenal Company $FAST

Candriam S.C.A. grew its stake in Fastenal Company (NASDAQ:FAST) by 108.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,819 shares of the company’s stock after acquiring an additional 52,383 shares during the quarter. Candriam S.C.A.’s holdings in Fastenal were worth $4,235,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey increased its position in Fastenal by 109.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 174,250 shares of the company’s stock worth $7,318,000 after purchasing an additional 90,880 shares during the last quarter. Bailard Inc. grew its stake in shares of Fastenal by 99.3% in the 2nd quarter. Bailard Inc. now owns 8,294 shares of the company’s stock valued at $348,000 after buying an additional 4,133 shares during the period. Geode Capital Management LLC grew its stake in shares of Fastenal by 103.8% in the 2nd quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock valued at $1,506,141,000 after buying an additional 18,329,847 shares during the period. Accredited Investors Inc. increased its holdings in shares of Fastenal by 100.9% during the 2nd quarter. Accredited Investors Inc. now owns 33,933 shares of the company’s stock worth $1,425,000 after buying an additional 17,046 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Fastenal by 95.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 819,372 shares of the company’s stock valued at $34,414,000 after buying an additional 399,334 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Down 0.7%

Shares of NASDAQ:FAST opened at $40.45 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.26 and a quick ratio of 2.19. The firm has a market capitalization of $46.44 billion, a PE ratio of 37.80, a price-to-earnings-growth ratio of 3.75 and a beta of 0.92. The firm’s 50-day moving average is $44.74 and its two-hundred day moving average is $44.41. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Fastenal had a net margin of 15.34% and a return on equity of 32.69%. During the same period in the previous year, the business posted $0.26 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. Analysts predict that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, October 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.2%. Fastenal’s payout ratio is 82.24%.

Insider Activity

In related news, Director Hsenghung Sam Hsu acquired 1,000 shares of Fastenal stock in a transaction dated Thursday, November 13th. The shares were acquired at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the completion of the purchase, the director owned 10,000 shares in the company, valued at approximately $495,800. The trade was a 11.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FAST. Northcoast Research initiated coverage on Fastenal in a research report on Thursday, August 21st. They issued a “neutral” rating for the company. Baird R W upgraded Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Sanford C. Bernstein initiated coverage on shares of Fastenal in a report on Tuesday. They issued an “underperform” rating and a $38.00 price objective on the stock. Robert W. Baird decreased their target price on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.32.

About Fastenal

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.