Fastenal (NASDAQ:FAST) Shares Purchased by Comgest Global Investors S.A.S.

Comgest Global Investors S.A.S. increased its holdings in shares of Fastenal (NASDAQ:FAST - Free Report) by 73.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 87,081 shares of the company's stock after acquiring an additional 36,742 shares during the period. Comgest Global Investors S.A.S.'s holdings in Fastenal were worth $6,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legal & General Group Plc boosted its holdings in shares of Fastenal by 3.4% in the second quarter. Legal & General Group Plc now owns 5,909,206 shares of the company's stock valued at $371,334,000 after purchasing an additional 193,734 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Fastenal by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,665,482 shares of the company's stock valued at $293,179,000 after purchasing an additional 66,130 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Fastenal by 13.2% in the second quarter. Thrivent Financial for Lutherans now owns 4,420,659 shares of the company's stock valued at $277,794,000 after purchasing an additional 517,172 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Fastenal by 19.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company's stock valued at $241,161,000 after purchasing an additional 636,546 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Fastenal by 2.9% in the second quarter. ProShare Advisors LLC now owns 3,190,744 shares of the company's stock valued at $200,506,000 after purchasing an additional 91,411 shares during the period. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Down 0.4 %

Shares of FAST traded down $0.31 during mid-day trading on Friday, hitting $81.85. 2,595,550 shares of the company traded hands, compared to its average volume of 3,316,257. Fastenal has a 1-year low of $59.47 and a 1-year high of $84.88. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $46.89 billion, a PE ratio of 40.72, a price-to-earnings-growth ratio of 4.90 and a beta of 0.99. The business has a 50 day moving average of $74.96 and a 200 day moving average of $69.22.

Fastenal (NASDAQ:FAST - Get Free Report) last posted its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company's revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Fastenal will post 2.03 EPS for the current year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 annualized dividend and a yield of 1.91%. Fastenal's dividend payout ratio (DPR) is presently 77.61%.

Insiders Place Their Bets

In related 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 transaction of $1,970,441.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel L. Johnson sold 8,474 shares of the business's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total transaction of $706,392.64. Following the completion of the transaction, the director now owns 10,595 shares of the company's stock, valued at approximately $883,199.20. This represents a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,033 shares of company stock valued at $19,240,434. 0.41% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on FAST shares. Robert W. Baird boosted their price target on Fastenal from $67.00 to $80.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Bank of America began coverage on shares of Fastenal in a research note on Monday, October 7th. They set a "buy" rating and a $85.00 price objective on the stock. Morgan Stanley increased their price objective on shares of Fastenal from $72.00 to $76.00 and gave the company an "equal weight" rating in a research note on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on shares of Fastenal from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Finally, Stephens increased their price objective on shares of Fastenal from $56.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, October 14th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $74.80.

Fastenal Profile

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.