3,452 Shares in Fastenal (NASDAQ:FAST) Bought by Lafayette Investments Inc.

Lafayette Investments Inc. purchased a new position in shares of Fastenal (NASDAQ:FAST) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,452 shares of the company’s stock, valued at approximately $224,000.

Several other institutional investors have also bought and sold shares of FAST. Norges Bank bought a new stake in Fastenal during the fourth quarter worth $268,570,000. Morgan Stanley grew its holdings in Fastenal by 37.8% during the fourth quarter. Morgan Stanley now owns 9,092,207 shares of the company’s stock worth $430,243,000 after buying an additional 2,492,722 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Fastenal by 47.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company’s stock valued at $256,344,000 after purchasing an additional 1,505,936 shares during the period. Invesco Ltd. grew its stake in Fastenal by 16.5% in the 3rd quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock valued at $368,563,000 after purchasing an additional 957,091 shares during the period. Finally, Select Equity Group L.P. grew its stake in Fastenal by 60.2% in the 1st quarter. Select Equity Group L.P. now owns 2,481,822 shares of the company’s stock valued at $133,869,000 after purchasing an additional 933,068 shares during the period. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ:FAST traded up $0.16 on Friday, hitting $67.66. The company’s stock had a trading volume of 991,540 shares, compared to its average volume of 4,026,526. The company has a 50-day simple moving average of $73.67 and a 200 day simple moving average of $66.21. Fastenal has a 1 year low of $52.28 and a 1 year high of $79.04. The company has a market capitalization of $38.74 billion, a PE ratio of 33.42, a PEG ratio of 3.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the business earned $0.52 EPS. The business’s revenue was up 1.9% on a year-over-year basis. Sell-side analysts forecast that Fastenal will post 2.13 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.31%. Fastenal’s dividend payout ratio is 77.23%.

Insider Activity at Fastenal

In other news, Director Daniel L. Johnson acquired 3,350 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average cost of $68.38 per share, with a total value of $229,073.00. Following the acquisition, the director now owns 10,595 shares in the company, valued at approximately $724,486.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Daniel L. Johnson purchased 3,350 shares of Fastenal stock in a transaction that occurred on Wednesday, April 17th. The shares were acquired at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the transaction, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Charles S. Miller sold 23,590 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $69.25, for a total value of $1,633,607.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,640 shares of company stock valued at $5,044,657. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on FAST shares. Loop Capital reduced their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday. Robert W. Baird reduced their price objective on Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. HSBC upped their price objective on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday. Finally, Stifel Nicolaus increased their price target on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and a consensus price target of $67.67.

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.