Asset Management One Co. Ltd. increased its stake in Fastenal (NASDAQ:FAST) by 130.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 318,351 shares of the company’s stock after acquiring an additional 180,379 shares during the period. Asset Management One Co. Ltd. owned approximately 0.06% of Fastenal worth $10,375,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Investment Management Company LLC grew its stake in Fastenal by 0.5% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 43,484 shares of the company’s stock valued at $2,796,000 after buying an additional 227 shares during the last quarter. Ironwood Investment Management LLC lifted its holdings in shares of Fastenal by 3.2% during the 1st quarter. Ironwood Investment Management LLC now owns 8,161 shares of the company’s stock worth $525,000 after acquiring an additional 250 shares during the period. ETF Managers Group LLC lifted its holdings in shares of Fastenal by 10.5% during the 1st quarter. ETF Managers Group LLC now owns 2,675 shares of the company’s stock worth $172,000 after acquiring an additional 254 shares during the period. Haverford Trust Co. lifted its holdings in Fastenal by 6.4% during the 1st quarter. Haverford Trust Co. now owns 4,255 shares of the company’s stock valued at $274,000 after purchasing an additional 255 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its holdings in Fastenal by 94.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 774 shares of the company’s stock valued at $25,000 after purchasing an additional 375 shares during the last quarter. Institutional investors and hedge funds own 83.85% of the company’s stock.
In other news, CAO Sheryl Ann Lisowski sold 5,615 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $33.50, for a total transaction of $188,102.50. Following the completion of the sale, the chief accounting officer now owns 10,382 shares of the company’s stock, valued at approximately $347,797. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel L. Johnson acquired 2,500 shares of Fastenal stock in a transaction dated Thursday, August 1st. The shares were bought at an average cost of $30.49 per share, with a total value of $76,225.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,604 shares of company stock valued at $138,479 in the last three months. Insiders own 0.56% of the company’s stock.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, October 11th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.38 billion. Fastenal had a net margin of 14.74% and a return on equity of 32.27%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $0.34 EPS. On average, research analysts expect that Fastenal will post 1.37 earnings per share for the current year.
A number of equities analysts have weighed in on FAST shares. Zacks Investment Research raised shares of Fastenal from a “sell” rating to a “hold” rating and set a $34.00 target price for the company in a research note on Tuesday, September 10th. Morgan Stanley cut their price target on shares of Fastenal from $31.50 to $29.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Cleveland Research reissued a “hold” rating on shares of Fastenal in a research report on Tuesday, September 24th. Wells Fargo & Co dropped their price target on shares of Fastenal from $35.00 to $30.00 and set a “market perform” rating on the stock in a research report on Friday, July 12th. Finally, ValuEngine downgraded shares of Fastenal from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Fastenal currently has an average rating of “Hold” and an average price target of $31.64.
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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