Stevens Capital Management LP Acquires 24,011 Shares of Fastenal (FAST)

Stevens Capital Management LP raised its holdings in Fastenal (NASDAQ:FAST) by 32.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 98,529 shares of the company’s stock after acquiring an additional 24,011 shares during the period. Stevens Capital Management LP’s holdings in Fastenal were worth $5,717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Standard Life Aberdeen plc increased its stake in shares of Fastenal by 29.2% in the third quarter. Standard Life Aberdeen plc now owns 111,518 shares of the company’s stock worth $6,471,000 after purchasing an additional 25,221 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Fastenal by 8.3% in the third quarter. Franklin Resources Inc. now owns 96,925 shares of the company’s stock worth $5,623,000 after purchasing an additional 7,459 shares in the last quarter. AMP Capital Investors Ltd increased its stake in shares of Fastenal by 13.1% in the third quarter. AMP Capital Investors Ltd now owns 102,592 shares of the company’s stock worth $5,956,000 after purchasing an additional 11,893 shares in the last quarter. Giverny Capital Inc. purchased a new position in shares of Fastenal in the third quarter worth about $237,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Fastenal by 60.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 208,925 shares of the company’s stock worth $12,122,000 after purchasing an additional 78,725 shares in the last quarter. Hedge funds and other institutional investors own 84.37% of the company’s stock.

Shares of NASDAQ:FAST opened at $59.00 on Friday. The company has a market cap of $16.96 billion, a P/E ratio of 30.57, a PEG ratio of 1.63 and a beta of 1.01. Fastenal has a 12 month low of $47.37 and a 12 month high of $61.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.35 and a quick ratio of 2.48.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, October 10th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. Fastenal had a net margin of 15.25% and a return on equity of 32.29%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company earned $0.50 earnings per share. Fastenal’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities research analysts anticipate that Fastenal will post 2.59 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, October 24th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, October 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.71%. Fastenal’s dividend payout ratio is presently 82.90%.

In related news, CFO Holden Lewis purchased 500 shares of the business’s stock in a transaction on Tuesday, October 16th. The stock was acquired at an average price of $52.28 per share, with a total value of $26,140.00. Following the purchase, the chief financial officer now directly owns 3,500 shares in the company, valued at $182,980. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider William Joseph Drazkowski purchased 830 shares of the business’s stock in a transaction on Tuesday, October 23rd. The stock was bought at an average cost of $50.54 per share, with a total value of $41,948.20. Following the purchase, the insider now owns 2,790 shares in the company, valued at $141,006.60. The disclosure for this purchase can be found here. In the last three months, insiders acquired 5,795 shares of company stock valued at $299,849. Corporate insiders own 0.56% of the company’s stock.

FAST has been the subject of several recent analyst reports. BidaskClub raised shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Saturday, November 17th. ValuEngine raised shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Thursday, November 15th. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Wednesday, October 3rd. Wells Fargo & Co set a $50.00 price objective on shares of Fastenal and gave the company a “hold” rating in a research note on Thursday, October 11th. Finally, Buckingham Research initiated coverage on shares of Fastenal in a research note on Monday, October 22nd. They set a “neutral” rating and a $50.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Fastenal has a consensus rating of “Hold” and a consensus target price of $56.40.

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About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal (NASDAQ:FAST).

Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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