820,673 Shares in Fastenal Company $FAST Bought by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec bought a new position in shares of Fastenal Company (NASDAQ:FAST) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 820,673 shares of the company’s stock, valued at approximately $39,417,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FAST. Integrated Wealth Concepts LLC raised its stake in shares of Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after buying an additional 147 shares during the period. Tandem Investment Advisors Inc. grew its stake in Fastenal by 1.8% in the 1st quarter. Tandem Investment Advisors Inc. now owns 12,356 shares of the company’s stock valued at $573,000 after acquiring an additional 224 shares during the period. Sittner & Nelson LLC increased its holdings in Fastenal by 0.3% in the 4th quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock worth $2,749,000 after acquiring an additional 226 shares in the last quarter. Sound Income Strategies LLC increased its holdings in Fastenal by 12.9% in the 1st quarter. Sound Income Strategies LLC now owns 2,025 shares of the company’s stock worth $94,000 after acquiring an additional 232 shares in the last quarter. Finally, L2 Asset Management LLC raised its position in Fastenal by 4.8% during the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock worth $264,000 after acquiring an additional 248 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Activity

In other news, Director Rita J. Heise sold 34,964 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total transaction of $1,749,948.20. Following the completion of the sale, the director owned 20,000 shares in the company, valued at approximately $1,001,000. The trade was a 63.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Ancius sold 3,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the completion of the transaction, the director owned 58,690 shares of the company’s stock, valued at approximately $2,875,810. The trade was a 4.86% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FAST. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a research report on Wednesday, July 15th. Barclays decreased their target price on Fastenal from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 16th. Wolfe Research restated an “underperform” rating and set a $47.00 price target on shares of Fastenal in a research report on Thursday, July 9th. Rothschild & Co Redburn set a $55.00 price objective on Fastenal and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Weiss Ratings raised shares of Fastenal from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $49.17.

Fastenal Stock Performance

Shares of Fastenal stock opened at $51.13 on Friday. The business has a 50-day simple moving average of $48.38 and a 200-day simple moving average of $46.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 4.18. Fastenal Company has a one year low of $38.97 and a one year high of $52.92. The company has a market cap of $58.67 billion, a PE ratio of 43.33, a P/E/G ratio of 3.19 and a beta of 0.72.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. On average, equities research analysts forecast that Fastenal Company will post 1.26 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, July 28th. This is an increase from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s dividend payout ratio (DPR) is currently 88.14%.

Fastenal Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.