ProShare Advisors LLC Has $240.16 Million Holdings in Fastenal Company $FAST

ProShare Advisors LLC increased its holdings in Fastenal Company (NASDAQ:FAST) by 85.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,718,024 shares of the company’s stock after purchasing an additional 2,636,722 shares during the quarter. ProShare Advisors LLC owned approximately 0.50% of Fastenal worth $240,157,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Fastenal by 87.9% in the second quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock valued at $1,463,743,000 after buying an additional 16,308,254 shares during the period. Envestnet Asset Management Inc. increased its position in Fastenal by 103.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 9,734,500 shares of the company’s stock valued at $408,849,000 after purchasing an additional 4,950,503 shares during the period. Cantillon Capital Management LLC increased its position in Fastenal by 94.4% during the 2nd quarter. Cantillon Capital Management LLC now owns 9,298,033 shares of the company’s stock valued at $390,517,000 after purchasing an additional 4,513,985 shares during the period. Blair William & Co. IL raised its holdings in Fastenal by 107.2% during the 2nd quarter. Blair William & Co. IL now owns 6,822,973 shares of the company’s stock worth $286,565,000 after purchasing an additional 3,530,339 shares during the last quarter. Finally, Provident Trust Co. lifted its position in shares of Fastenal by 98.9% in the 2nd quarter. Provident Trust Co. now owns 5,379,291 shares of the company’s stock worth $225,930,000 after purchasing an additional 2,674,765 shares during the period. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Performance

NASDAQ FAST opened at $40.85 on Monday. The company has a current ratio of 4.26, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $45.57 and a 200 day simple moving average of $44.41. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The company has a market cap of $46.90 billion, a P/E ratio of 38.18, a PEG ratio of 3.75 and a beta of 0.92.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Monday, October 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the business earned $0.26 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. Sell-side analysts predict that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, October 28th. Fastenal’s payout ratio is currently 82.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a research report on Wednesday, October 8th. Barclays set a $45.00 price target on shares of Fastenal and gave the company an “equal weight” rating in a research report on Tuesday, October 14th. Loop Capital reissued a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. Wolfe Research reiterated a “positive” rating on shares of Fastenal in a report on Monday, July 14th. Finally, Baird R W raised Fastenal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.50.

Insider Activity at Fastenal

In related news, Director Hsenghung Sam Hsu bought 1,000 shares of the company’s stock in a transaction dated Thursday, October 16th. The shares were bought at an average price of $42.45 per share, for a total transaction of $42,450.00. Following the completion of the acquisition, the director directly owned 9,000 shares of the company’s stock, valued at $382,050. This trade represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William Joseph Drazkowski sold 6,842 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $48.67, for a total value of $333,000.14. Following the sale, the executive vice president owned 11,994 shares of the company’s stock, valued at $583,747.98. This trade represents a 36.32% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company’s stock.

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.