Lbp Am Sa Invests $10.22 Million in Fastenal Company $FAST

Lbp Am Sa purchased a new stake in Fastenal Company (NASDAQ:FAST) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 208,311 shares of the company’s stock, valued at approximately $10,216,000.

Several other large investors also recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI raised its position in Fastenal by 603.2% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 39,422 shares of the company’s stock valued at $1,934,000 after purchasing an additional 33,816 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Fastenal by 33.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 13,465 shares of the company’s stock worth $645,000 after purchasing an additional 3,352 shares during the period. CIBC Asset Management Inc increased its position in shares of Fastenal by 0.6% during the 3rd quarter. CIBC Asset Management Inc now owns 383,668 shares of the company’s stock valued at $18,815,000 after purchasing an additional 2,214 shares during the last quarter. Sagespring Wealth Partners LLC raised its holdings in Fastenal by 11.2% during the 3rd quarter. Sagespring Wealth Partners LLC now owns 14,978 shares of the company’s stock valued at $735,000 after buying an additional 1,509 shares during the period. Finally, Investment House LLC lifted its position in Fastenal by 1.6% in the third quarter. Investment House LLC now owns 252,503 shares of the company’s stock worth $12,383,000 after buying an additional 3,900 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Barclays set a $43.00 target price on shares of Fastenal and gave the company an “equal weight” rating in a research note on Wednesday, January 21st. Jefferies Financial Group set a $52.00 price objective on shares of Fastenal and gave the stock a “buy” rating in a research report on Monday, December 15th. Wolfe Research dropped their target price on Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a research report on Wednesday, January 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 29th. Finally, UBS Group reissued a “neutral” rating and set a $46.00 price target on shares of Fastenal in a research note on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.00.

Fastenal Trading Down 0.4%

Shares of NASDAQ FAST opened at $43.73 on Tuesday. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The firm has a market cap of $50.20 billion, a PE ratio of 39.75, a price-to-earnings-growth ratio of 2.81 and a beta of 0.90. The business has a fifty day simple moving average of $41.55 and a two-hundred day simple moving average of $44.46. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter last year, the firm posted $0.46 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts expect that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th will be paid a dividend of $0.24 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, January 29th. Fastenal’s payout ratio is 80.00%.

Insider Buying and Selling

In other Fastenal news, Director Hsenghung Sam Hsu acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were bought at an average cost of $49.58 per share, with a total value of $49,580.00. Following the completion of the acquisition, the director directly owned 10,000 shares in the company, valued at $495,800. This represents a 11.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sarah N. Nielsen bought 1,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $39.60 per share, with a total value of $39,600.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at $198,000. This trade represents a 25.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.37% of the stock is currently owned by company insiders.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.