Fastenal (NASDAQ:FAST) Shares Purchased by Semanteon Capital Management LP

Semanteon Capital Management LP grew its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 65.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,695 shares of the company's stock after purchasing an additional 6,629 shares during the quarter. Fastenal makes up about 0.8% of Semanteon Capital Management LP's holdings, making the stock its 20th biggest position. Semanteon Capital Management LP's holdings in Fastenal were worth $1,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. ProShare Advisors LLC boosted its stake in shares of Fastenal by 497.3% during the first quarter. ProShare Advisors LLC now owns 3,099,333 shares of the company's stock worth $239,083,000 after buying an additional 2,580,478 shares during the period. Marshall Wace LLP increased its holdings in shares of Fastenal by 4,008.2% in the second quarter. Marshall Wace LLP now owns 756,241 shares of the company's stock valued at $47,522,000 after purchasing an additional 737,833 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Fastenal by 19.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company's stock worth $241,161,000 after purchasing an additional 636,546 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Fastenal during the second quarter worth $37,659,000. Finally, TD Asset Management Inc grew its position in Fastenal by 21.2% in the 1st quarter. TD Asset Management Inc now owns 3,248,853 shares of the company's stock valued at $250,617,000 after buying an additional 569,118 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Insider Activity

In related news, VP John Lewis Soderberg sold 488 shares of the company's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.32, for a total transaction of $37,244.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Anthony Paul Broersma sold 680 shares of the business's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John Lewis Soderberg sold 488 shares of the business's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The disclosure for this sale can be found here. Insiders have sold 179,373 shares of company stock worth $13,029,308 over the last three months. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on FAST shares. Bank of America initiated coverage on shares of Fastenal in a research note on Monday, October 7th. They issued a "buy" rating and a $85.00 target price for the company. Robert W. Baird lifted their price objective on Fastenal from $67.00 to $80.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Morgan Stanley increased their target price on Fastenal from $72.00 to $76.00 and gave the stock an "equal weight" rating in a research note on Monday, October 14th. Jefferies Financial Group decreased their price target on Fastenal from $74.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, July 11th. Finally, Stephens increased their price objective on Fastenal from $56.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $73.33.

Fastenal Price Performance

Shares of FAST stock traded up $0.82 during mid-day trading on Monday, reaching $76.67. The stock had a trading volume of 1,587,805 shares, compared to its average volume of 3,340,520. Fastenal has a 12-month low of $57.56 and a 12-month high of $79.04. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $71.11 and a 200 day simple moving average of $67.98. The company has a market cap of $43.90 billion, a P/E ratio of 38.14, a price-to-earnings-growth ratio of 4.48 and a beta of 1.01.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings results 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 company 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 firm earned $0.52 earnings per share. The company's revenue for the quarter was up 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Fastenal will post 2.03 earnings per share for the current year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be issued a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.03%. Fastenal's dividend payout ratio (DPR) is 77.61%.

Fastenal Company 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.