1832 Asset Management L.P. Sells 6,883 Shares of Fastenal (NASDAQ:FAST) (2024)

1832 Asset Management L.P. trimmed its holdings in shares of Fastenal (NASDAQ:FAST – Free Report) by 11.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,798 shares of the company’s stock after selling 6,883 shares during the period. 1832 Asset Management L.P.’s holdings in Fastenal were worth $3,484,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of FAST. Norges Bank bought a new stake in Fastenal in the 4th quarter valued at about $405,513,000. Envestnet Asset Management Inc. grew its position in Fastenal by 47.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company’s stock valued at $256,344,000 after purchasing an additional 1,505,936 shares during the period. TD Asset Management Inc increased its stake in Fastenal by 112.9% during the 4th quarter. TD Asset Management Inc now owns 2,679,735 shares of the company’s stock valued at $173,566,000 after purchasing an additional 1,420,763 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Fastenal by 85.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 2,179,453 shares of the company’s stock worth $141,163,000 after buying an additional 1,002,004 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Fastenal by 16.5% during the third quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock valued at $368,563,000 after buying an additional 957,091 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Loop Capital lowered their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Stifel Nicolaus raised their target price on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. HSBC lifted their target price on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, April 15th. Finally, Robert W. Baird lowered their price target on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.33.

Insider Transactions at Fastenal

In related news, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel L. Johnson purchased 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The stock was acquired at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the transaction, the director now owns 10,595 shares of the company’s stock, valued at $724,486.10. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by company insiders.

Fastenal Stock Performance

Shares of Fastenal stock opened at $63.89 on Friday. The business’s fifty day simple moving average is $68.38 and its 200 day simple moving average is $68.27. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. Fastenal has a 12 month low of $53.65 and a 12 month high of $79.04. The firm has a market capitalization of $36.58 billion, a P/E ratio of 31.63, a price-to-earnings-growth ratio of 3.40 and a beta of 1.02.

Fastenal (NASDAQ:FAST – Get Free Report) last released its earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 earnings per share. As a group, analysts anticipate that Fastenal will post 2.09 EPS for the current year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Wednesday, April 24th. Fastenal’s dividend payout ratio is currently 77.23%.

Fastenal Company Profile

(Free Report)

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.