Optas LLC Buys 5,402 Shares of Fastenal (NASDAQ:FAST)

Optas LLC raised its stake in shares of Fastenal (NASDAQ:FAST) by 138.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,304 shares of the company’s stock after buying an additional 5,402 shares during the quarter. Optas LLC’s holdings in Fastenal were worth $664,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC raised its position in shares of Fastenal by 34.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,895 shares of the company’s stock worth $372,000 after purchasing an additional 1,246 shares during the last quarter. Absher Wealth Management LLC increased its stake in Fastenal by 2.3% during the 3rd quarter. Absher Wealth Management LLC now owns 332,530 shares of the company’s stock valued at $23,749,000 after purchasing an additional 7,593 shares in the last quarter. Jacobson & Schmitt Advisors LLC raised its holdings in Fastenal by 3.2% in the third quarter. Jacobson & Schmitt Advisors LLC now owns 168,365 shares of the company’s stock worth $12,025,000 after buying an additional 5,292 shares during the last quarter. Stephens Investment Management Group LLC lifted its stake in shares of Fastenal by 9.8% in the third quarter. Stephens Investment Management Group LLC now owns 228,506 shares of the company’s stock worth $16,320,000 after buying an additional 20,438 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in shares of Fastenal by 77.3% during the third quarter. Pinnacle Associates Ltd. now owns 8,771 shares of the company’s stock valued at $626,000 after buying an additional 3,823 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Fastenal Trading Up 0.1 %

Shares of NASDAQ:FAST opened at $78.23 on Friday. The stock’s 50-day simple moving average is $71.94 and its two-hundred day simple moving average is $68.23. The stock has a market capitalization of $44.82 billion, a price-to-earnings ratio of 38.92, a PEG ratio of 4.58 and a beta of 0.99. Fastenal has a 52-week low of $58.23 and a 52-week high of $79.04. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. Analysts expect that Fastenal will post 2.03 EPS for the current year.

Fastenal Dividend Announcement

The firm 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 1.99%. The ex-dividend date is Friday, October 25th. Fastenal’s payout ratio is 77.61%.

Analyst Ratings Changes

FAST has been the subject of a number of recent analyst reports. Stephens boosted their price objective on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Jefferies Financial Group decreased their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Robert W. Baird increased their price objective on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. boosted their target price on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $86.00 price target (up previously from $80.00) on shares of Fastenal in a report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Fastenal currently has an average rating of “Hold” and an average target price of $73.33.

Insider Transactions at Fastenal

In other news, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,929,734.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Fastenal news, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,489,266.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,929,734.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 190,261 shares of company stock worth $13,874,979 in the last three months. Corporate insiders own 0.41% of the company’s stock.

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.