Fastenal (NASDAQ:FAST) Position Boosted by Jacobson & Schmitt Advisors LLC

Jacobson & Schmitt Advisors LLC lifted its stake in Fastenal (NASDAQ:FAST) by 3.2% in the third quarter, Holdings Channel.com reports. The firm owned 168,365 shares of the company’s stock after acquiring an additional 5,292 shares during the quarter. Fastenal comprises 2.5% of Jacobson & Schmitt Advisors LLC’s portfolio, making the stock its 20th largest holding. Jacobson & Schmitt Advisors LLC’s holdings in Fastenal were worth $12,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. ProShare Advisors LLC boosted its stake in shares of Fastenal by 497.3% during the 1st quarter. ProShare Advisors LLC now owns 3,099,333 shares of the company’s stock valued at $239,083,000 after buying an additional 2,580,478 shares during the period. Marshall Wace LLP raised its stake in shares of Fastenal by 4,008.2% during the 2nd quarter. Marshall Wace LLP now owns 756,241 shares of the company’s stock worth $47,522,000 after purchasing an additional 737,833 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Fastenal by 19.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock valued at $241,161,000 after buying an additional 636,546 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Fastenal during the 2nd quarter valued at about $37,659,000. Finally, TD Asset Management Inc lifted its holdings in shares of Fastenal by 21.2% during the 1st quarter. TD Asset Management Inc now owns 3,248,853 shares of the company’s stock valued at $250,617,000 after buying an additional 569,118 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Performance

Shares of NASDAQ FAST opened at $78.18 on Friday. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $71.74 and its two-hundred day moving average is $68.18. The company has a market cap of $44.79 billion, a P/E ratio of 38.90, a P/E/G ratio of 4.59 and a beta of 1.01. Fastenal has a 12 month low of $58.04 and a 12 month high of $79.04.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. Fastenal’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 earnings per share. On average, equities analysts expect that Fastenal will post 2.03 EPS for the current year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, October 25th. Fastenal’s dividend payout ratio is presently 77.61%.

Analyst Upgrades and Downgrades

FAST has been the subject of several research reports. Stephens lifted their price target on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Stifel Nicolaus reiterated a “buy” rating and set a $86.00 price target (up from $80.00) on shares of Fastenal in a report on Monday, October 14th. Morgan Stanley lifted their price target on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Robert W. Baird lifted their price target on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Jefferies Financial Group reduced their target price on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $73.33.

Insider Activity

In other news, CEO Daniel L. Florness sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,929,734.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Daniel L. Florness sold 50,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,929,734.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Joseph Drazkowski sold 16,362 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.65, for a total value of $1,270,509.30. Following the completion of the sale, the insider now directly owns 5,997 shares in the company, valued at approximately $465,667.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 190,261 shares of company stock worth $13,874,979. Company insiders own 0.41% of the company’s stock.

Fastenal Company 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.