Stoneridge Investment Partners LLC Buys Shares of 4,950 Fastenal (NASDAQ:FAST)

Stoneridge Investment Partners LLC purchased a new position in Fastenal (NASDAQ:FAST) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,950 shares of the company’s stock, valued at approximately $311,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nomura Holdings Inc. purchased a new position in Fastenal during the 4th quarter valued at about $747,000. Focus Financial Network Inc. ADV purchased a new stake in Fastenal in the 4th quarter worth approximately $1,282,000. Clear Rock Advisors LLC bought a new position in Fastenal in the 4th quarter valued at $2,936,000. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Fastenal by 98.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 118,301 shares of the company’s stock valued at $9,126,000 after purchasing an additional 58,726 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Fastenal in the fourth quarter worth $1,078,000. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Performance

NASDAQ:FAST opened at $69.82 on Friday. The company has a market capitalization of $39.98 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 3.78 and a beta of 1.01. The business has a 50 day moving average of $67.35 and a 200 day moving average of $68.59. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. Fastenal has a 1-year low of $53.83 and a 1-year high of $79.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the business posted $0.52 EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. On average, sell-side analysts predict that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Friday, July 26th. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FAST shares. Morgan Stanley initiated coverage on Fastenal in a research note on Friday, September 6th. They set an “equal weight” rating and a $72.00 price objective for the company. Jefferies Financial Group dropped their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Stifel Nicolaus restated a “buy” rating and issued a $80.00 price objective (down from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a research note on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Fastenal presently has a consensus rating of “Hold” and an average price target of $67.43.

Insider Activity at Fastenal

In other Fastenal news, CEO Daniel L. Florness sold 45,744 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the sale, the chief executive officer now owns 286,018 shares in the company, valued at $19,489,266.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is currently owned by company insiders.

Fastenal Profile

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.