Fastenal (NASDAQ:FAST) Holdings Raised by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its holdings in shares of Fastenal (NASDAQ:FAST - Free Report) by 46.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,711 shares of the company's stock after acquiring an additional 36,268 shares during the quarter. Quantinno Capital Management LP's holdings in Fastenal were worth $8,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC purchased a new stake in shares of Fastenal in the third quarter worth about $310,000. Comgest Global Investors S.A.S. lifted its position in Fastenal by 73.0% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company's stock worth $6,219,000 after acquiring an additional 36,742 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Fastenal by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 210,998 shares of the company's stock worth $13,259,000 after acquiring an additional 11,436 shares during the period. PNC Financial Services Group Inc. grew its position in Fastenal by 1.8% in the third quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company's stock valued at $26,373,000 after acquiring an additional 6,488 shares in the last quarter. Finally, Peak Financial Advisors LLC acquired a new stake in Fastenal in the second quarter valued at approximately $2,643,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fastenal

In other news, CEO Daniel L. Florness sold 50,000 shares of the company's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,929,734.24. This represents a 14.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Charles S. Miller sold 23,480 shares of Fastenal stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total transaction of $1,970,441.60. The disclosure for this sale can be found here. Insiders sold a total of 208,289 shares of company stock worth $16,123,438 over the last ninety days. Company insiders own 0.41% of the company's stock.

Fastenal Stock Performance

Shares of NASDAQ FAST traded down $0.71 during trading on Friday, reaching $81.05. The stock had a trading volume of 2,581,905 shares, compared to its average volume of 3,253,915. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. The stock has a market cap of $46.43 billion, a PE ratio of 40.32, a P/E/G ratio of 4.85 and a beta of 1.00. Fastenal has a one year low of $61.33 and a one year high of $84.88. The firm's 50 day moving average price is $78.44 and its two-hundred day moving average price is $70.72.

Fastenal (NASDAQ:FAST - Get Free Report) last released its earnings results on Friday, October 11th. The company reported $0.52 earnings per share 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 analyst estimates of $1.90 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. On average, research analysts forecast that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 25th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 1.92%. Fastenal's dividend payout ratio is currently 77.61%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FAST shares. Bank of America assumed 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. JPMorgan Chase & Co. upped their price objective on shares of Fastenal from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. Stephens lifted their target price on Fastenal from $56.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, October 14th. UBS Group initiated coverage on Fastenal in a report on Wednesday, November 13th. They issued a "neutral" rating and a $88.00 price target for the company. Finally, Jefferies Financial Group raised their price objective on Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a research note on Friday. Eight research 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 stock currently has a consensus rating of "Hold" and an average target price of $76.80.

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.