Fastenal (FAST) Shares Bought by Aviva PLC

Aviva PLC grew its stake in Fastenal (NASDAQ:FAST) by 40.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 205,025 shares of the company’s stock after buying an additional 59,345 shares during the period. Aviva PLC owned 0.07% of Fastenal worth $11,896,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FAST. Delta Asset Management LLC TN boosted its stake in Fastenal by 3,540.7% during the 3rd quarter. Delta Asset Management LLC TN now owns 3,131 shares of the company’s stock worth $182,000 after purchasing an additional 3,045 shares during the period. Canton Hathaway LLC acquired a new stake in shares of Fastenal during the third quarter worth about $186,000. Meyer Handelman Co. acquired a new stake in shares of Fastenal during the third quarter worth about $203,000. Northeast Investment Management acquired a new stake in shares of Fastenal during the third quarter worth about $220,000. Finally, Atria Investments LLC acquired a new stake in shares of Fastenal during the third quarter worth about $222,000. Institutional investors and hedge funds own 84.37% of the company’s stock.

Shares of NASDAQ:FAST opened at $59.26 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.35 and a quick ratio of 2.48. The stock has a market capitalization of $17.01 billion, a P/E ratio of 30.70, a PEG ratio of 1.63 and a beta of 1.01. Fastenal has a 52 week low of $47.37 and a 52 week high of $61.14.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, October 10th. The company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.02. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.29%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. On average, sell-side analysts anticipate that Fastenal will post 2.59 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, October 24th were given a $0.40 dividend. The ex-dividend date was Tuesday, October 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. Fastenal’s payout ratio is currently 82.90%.

FAST has been the subject of several recent research reports. 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 target price for the company. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Wednesday, October 3rd. BidaskClub upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Tuesday, August 21st. ValuEngine downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Wednesday, October 17th. Finally, Wells Fargo & Co set a $50.00 target price on shares of Fastenal and gave the stock a “hold” rating in a research note on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $56.40.

In other news, CFO Holden Lewis acquired 500 shares of Fastenal stock in a transaction that occurred on Tuesday, October 16th. The stock was purchased at an average price of $52.28 per share, for a total transaction of $26,140.00. Following the completion of the transaction, the chief financial officer now directly owns 3,500 shares in the company, valued at $182,980. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Terry Modock Owen acquired 1,500 shares of Fastenal stock in a transaction that occurred on Friday, October 12th. The stock was purchased at an average price of $52.07 per share, with a total value of $78,105.00. Following the transaction, the insider now owns 3,500 shares of the company’s stock, valued at $182,245. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 5,795 shares of company stock valued at $299,849. 0.56% of the stock is owned by insiders.

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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.

See Also: Asset Allocation, Balancing Your Investments

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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