Trust Point Inc. Buys 5,046 Shares of Fastenal (NASDAQ:FAST)

Trust Point Inc. raised its stake in Fastenal (NASDAQ:FAST) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,710 shares of the company’s stock after purchasing an additional 5,046 shares during the quarter. Trust Point Inc.’s holdings in Fastenal were worth $5,444,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp boosted its holdings in shares of Fastenal by 5.1% in the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company’s stock worth $1,999,009,000 after purchasing an additional 1,346,863 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Fastenal by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock worth $1,188,251,000 after purchasing an additional 880,372 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Fastenal by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock worth $1,419,690,000 after purchasing an additional 608,596 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Fastenal by 1,789.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 535,723 shares of the company’s stock worth $38,262,000 after purchasing an additional 507,364 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Fastenal by 59.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 928,377 shares of the company’s stock worth $66,305,000 after purchasing an additional 345,537 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Price Performance

Shares of FAST opened at $73.72 on Tuesday. The firm has a market capitalization of $42.23 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 3.48 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The company’s fifty day moving average price is $76.43 and its 200-day moving average price is $73.78.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the company posted $0.46 EPS. The company’s revenue was up 3.7% on a year-over-year basis. On average, equities research analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 2.33%. Fastenal’s dividend payout ratio is 85.57%.

Insiders Place Their Bets

In other news, VP Charles S. Miller sold 23,480 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total value of $1,970,441.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel L. Johnson sold 8,474 shares of Fastenal stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total transaction of $706,392.64. Following the sale, the director now owns 10,595 shares in the company, valued at $883,199.20. This represents a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,772 shares of company stock worth $5,365,455 in the last ninety days. 0.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FAST. Jefferies Financial Group upped their target price on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, December 6th. UBS Group started coverage on Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price on the stock. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a report on Wednesday, December 11th. Bank of America assumed coverage on Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $76.91.

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.