Optas LLC Has $1.28 Million Stake in Fastenal Company $FAST

Optas LLC lifted its stake in Fastenal Company (NASDAQ:FAST) by 90.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,174 shares of the company’s stock after purchasing an additional 12,462 shares during the quarter. Optas LLC’s holdings in Fastenal were worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC lifted its position in Fastenal by 1.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 51,940 shares of the company’s stock worth $2,547,000 after buying an additional 988 shares in the last quarter. IFM Investors Pty Ltd increased its stake in shares of Fastenal by 1.6% in the third quarter. IFM Investors Pty Ltd now owns 226,034 shares of the company’s stock worth $11,008,000 after acquiring an additional 3,496 shares during the last quarter. Monument Capital Management purchased a new stake in shares of Fastenal during the third quarter worth $207,000. Ellenbecker Investment Group purchased a new stake in shares of Fastenal during the third quarter worth $652,000. Finally, Security National Bank of SO Dak acquired a new stake in Fastenal during the third quarter valued at $202,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fastenal

In other Fastenal news, Director Sarah N. Nielsen acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average price of $39.60 per share, with a total value of $39,600.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $198,000. This trade represents a 25.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hsenghung Sam Hsu bought 1,000 shares of the stock in a transaction on Thursday, November 13th. The stock was acquired at an average cost of $49.58 per share, for a total transaction of $49,580.00. Following the acquisition, the director directly 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 SEC filing for this purchase provides additional information. Insiders have acquired 3,000 shares of company stock valued at $131,630 over the last 90 days. Corporate insiders own 0.37% of the company’s stock.

Fastenal Stock Down 0.1%

FAST opened at $41.72 on Wednesday. The firm has a market cap of $47.90 billion, a P/E ratio of 38.99, a price-to-earnings-growth ratio of 3.34 and a beta of 0.89. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. The business has a 50 day moving average price of $41.29 and a 200 day moving average price of $44.47. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63.

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

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, October 28th. This represents a $0.88 dividend on an annualized basis and a yield of 2.1%. Fastenal’s payout ratio is currently 82.24%.

Analyst Upgrades and Downgrades

FAST has been the topic of several research reports. Wolfe Research raised Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price on the stock in a research report on Thursday, November 13th. Barclays lowered their price target on Fastenal from $45.00 to $44.00 and set an “equal weight” rating for the company in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research report on Monday. Jefferies Financial Group set a $52.00 target price on shares of Fastenal and gave the stock a “buy” rating in a research report on Monday, December 15th. Finally, UBS Group upgraded shares of Fastenal from a “hold” rating to a “buy” rating and increased their price target for the stock from $45.00 to $52.00 in a research note on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $48.73.

Fastenal Company 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.