Stephens Investment Management Group LLC Has $16.32 Million Position in Fastenal (NASDAQ:FAST)

Stephens Investment Management Group LLC boosted its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 9.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 228,506 shares of the company's stock after buying an additional 20,438 shares during the period. Stephens Investment Management Group LLC's holdings in Fastenal were worth $16,320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in FAST. Central Valley Advisors LLC acquired a new position in Fastenal during the second quarter valued at $28,000. Triad Wealth Partners LLC purchased a new stake in shares of Fastenal in the second quarter worth approximately $32,000. Crewe Advisors LLC lifted its position in shares of Fastenal by 528.4% in the second quarter. Crewe Advisors LLC now owns 509 shares of the company's stock worth $32,000 after purchasing an additional 428 shares in the last quarter. Moisand Fitzgerald Tamayo LLC boosted its holdings in shares of Fastenal by 1,019.0% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company's stock worth $34,000 after purchasing an additional 428 shares during the period. Finally, OFI Invest Asset Management purchased a new position in Fastenal during the second quarter valued at approximately $35,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Trading Up 0.1 %

Shares of NASDAQ:FAST traded up $0.05 during midday trading on Friday, hitting $78.23. The company had a trading volume of 3,340,019 shares, compared to its average volume of 3,333,810. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. Fastenal has a 12 month low of $58.23 and a 12 month high of $79.04. The firm has a fifty day simple moving average of $71.94 and a 200 day simple moving average of $68.23. The stock has a market cap of $44.82 billion, a price-to-earnings ratio of 38.92, a PEG ratio of 4.59 and a beta of 1.01.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its earnings results on Friday, October 11th. The company reported $0.52 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 during 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 business's quarterly revenue was up 3.5% on a year-over-year basis. On average, analysts predict that Fastenal will post 2.03 EPS for the current year.

Fastenal Announces Dividend

The company 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 1.99%. Fastenal's dividend payout ratio (DPR) is 77.61%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on FAST shares. Morgan Stanley boosted their price target on shares of Fastenal from $72.00 to $76.00 and gave the company an "equal weight" rating in a report on Monday, October 14th. Bank of America began coverage on Fastenal in a research note on Monday, October 7th. They issued a "buy" rating and a $85.00 target price on the stock. Jefferies Financial Group cut their price target on Fastenal from $74.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, July 11th. JPMorgan Chase & Co. lifted 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. Finally, Stephens increased their price objective on Fastenal from $56.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $73.33.

Insider Transactions at Fastenal

In related news, VP John Lewis Soderberg sold 488 shares of the stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP John Lewis Soderberg sold 488 shares of Fastenal stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.32, for a total value of $37,244.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Anthony Paul Broersma sold 680 shares of the company's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total value of $52,944.80. The disclosure for this sale can be found here. Insiders sold 190,261 shares of company stock valued at $13,874,979 over the last three months. Company insiders own 0.41% of the company's stock.

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.