Fastenal Company $FAST Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Fastenal Company (NASDAQ:FAST) by 7.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,686,470 shares of the company’s stock after selling 841,728 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Fastenal were worth $513,271,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in Fastenal in the second quarter valued at $5,105,454,000. Bank of New York Mellon Corp purchased a new position in shares of Fastenal during the second quarter worth about $859,310,000. Norges Bank purchased a new position in shares of Fastenal during the fourth quarter worth about $646,046,000. Wellington Management Group LLP increased its position in shares of Fastenal by 243.5% during the fourth quarter. Wellington Management Group LLP now owns 12,095,194 shares of the company’s stock worth $485,380,000 after purchasing an additional 8,574,208 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Fastenal in the 2nd quarter valued at about $410,919,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Activity

In other Fastenal news, Director Michael J. Ancius sold 3,000 shares of Fastenal stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total value of $147,000.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rita J. Heise sold 34,964 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total value of $1,749,948.20. Following the transaction, the director owned 20,000 shares in the company, valued at $1,001,000. The trade was a 63.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on FAST shares. Robert W. Baird set a $54.00 price target on Fastenal in a research report on Friday, August 7th. Barclays reduced their price target on shares of Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Wolfe Research reissued an “underperform” rating and set a $47.00 price objective on shares of Fastenal in a research report on Thursday, July 9th. Jefferies Financial Group restated a “buy” rating on shares of Fastenal in a research note on Thursday, June 4th. Finally, Rothschild & Co Redburn set a $55.00 target price on shares of Fastenal and gave the company a “buy” rating in a report on Monday, July 13th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $49.17.

Fastenal Price Performance

Fastenal stock opened at $49.78 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21. The business has a 50 day simple moving average of $48.45 and a 200-day simple moving average of $46.50. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $52.92. The stock has a market capitalization of $57.12 billion, a PE ratio of 42.19, a price-to-earnings-growth ratio of 3.11 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 (EPS) for the quarter, meeting the consensus estimate of $0.33. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. Fastenal’s revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 EPS. Equities analysts predict that Fastenal Company will post 1.26 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, July 28th. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 2.1%. Fastenal’s payout ratio is presently 88.14%.

About Fastenal

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.