UniSuper Management Pty Ltd Has $15.65 Million Holdings in Fastenal Company $FAST

UniSuper Management Pty Ltd lifted its holdings in shares of Fastenal Company (NASDAQ:FAST) by 4.3% during the 3rd quarter, Holdings Channel reports. The firm owned 319,106 shares of the company’s stock after purchasing an additional 13,239 shares during the period. UniSuper Management Pty Ltd’s holdings in Fastenal were worth $15,649,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Patton Fund Management Inc. bought a new stake in shares of Fastenal during the 2nd quarter valued at $229,000. Values First Advisors Inc. raised its stake in Fastenal by 183.0% in the second quarter. Values First Advisors Inc. now owns 9,378 shares of the company’s stock valued at $394,000 after purchasing an additional 6,064 shares in the last quarter. Vanguard Group Inc. raised its stake in Fastenal by 103.5% in the second quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock valued at $6,265,119,000 after purchasing an additional 75,852,223 shares in the last quarter. Nordea Investment Management AB grew its stake in Fastenal by 6.3% during the third quarter. Nordea Investment Management AB now owns 3,713,469 shares of the company’s stock worth $181,626,000 after buying an additional 219,154 shares in the last quarter. Finally, Optas LLC increased its holdings in Fastenal by 100.2% in the 2nd quarter. Optas LLC now owns 13,712 shares of the company’s stock valued at $576,000 after buying an additional 6,863 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FAST has been the subject of a number of recent analyst reports. Barclays set a $43.00 price target on shares of Fastenal and gave the stock an “equal weight” rating in a report on Wednesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. Jefferies Financial Group set a $52.00 price target on Fastenal and gave the stock a “buy” rating in a report on Monday, December 15th. Robert W. Baird reduced their price objective on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. Finally, UBS Group reissued a “neutral” rating and set a $46.00 target price on shares of Fastenal in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $48.00.

Insider Activity at Fastenal

In other Fastenal news, Director Hsenghung Sam Hsu bought 1,000 shares of Fastenal stock in a transaction on Thursday, November 13th. The shares were purchased at an average cost of $49.58 per share, with a total value of $49,580.00. Following the acquisition, the director directly owned 10,000 shares of the company’s stock, valued at $495,800. The trade was a 11.11% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sarah N. Nielsen purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was acquired at an average price of $39.60 per share, with a total value of $39,600.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at approximately $198,000. This trade represents a 25.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.37% of the stock is owned by company insiders.

Fastenal Trading Down 2.0%

NASDAQ FAST opened at $43.89 on Friday. The company has a market cap of $50.39 billion, a price-to-earnings ratio of 39.90, a price-to-earnings-growth ratio of 2.81 and a beta of 0.90. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The company has a quick ratio of 2.19, a current ratio of 4.85 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average is $41.47 and its 200 day moving average is $44.45.

Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

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

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.