APG Asset Management N.V. Has $12.15 Million Stock Holdings in Fastenal (NASDAQ:FAST)

APG Asset Management N.V. reduced its stake in Fastenal (NASDAQ:FAST) by 46.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 207,164 shares of the company’s stock after selling 180,459 shares during the period. APG Asset Management N.V.’s holdings in Fastenal were worth $12,147,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. ProShare Advisors LLC raised its holdings in Fastenal by 497.3% in the 1st quarter. ProShare Advisors LLC now owns 3,099,333 shares of the company’s stock valued at $239,083,000 after acquiring an additional 2,580,478 shares during the period. Baird Financial Group Inc. increased its stake in shares of Fastenal by 15.2% during the fourth quarter. Baird Financial Group Inc. now owns 7,928,209 shares of the company’s stock worth $513,510,000 after purchasing an additional 1,043,529 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Fastenal by 46.2% during the 1st quarter. Los Angeles Capital Management LLC now owns 3,185,855 shares of the company’s stock worth $245,757,000 after purchasing an additional 1,006,402 shares during the last quarter. Marshall Wace LLP boosted its stake in Fastenal by 4,008.2% in the 2nd quarter. Marshall Wace LLP now owns 756,241 shares of the company’s stock valued at $47,522,000 after purchasing an additional 737,833 shares during the period. Finally, Epoch Investment Partners Inc. grew its holdings in Fastenal by 76.8% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,690,801 shares of the company’s stock valued at $109,513,000 after buying an additional 734,629 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Insider Transactions at Fastenal

In related news, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,489,266.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 in the company, valued at approximately $19,929,734.24. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FAST shares. Stephens reissued an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a research report on Monday, July 15th. Stifel Nicolaus restated a “buy” rating and set a $80.00 target price (down previously from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Morgan Stanley began coverage on shares of Fastenal in a research report on Friday, September 6th. They issued an “equal weight” rating and a $72.00 price target for the company. Finally, Jefferies Financial Group reduced their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $67.43.

Fastenal Stock Performance

Shares of Fastenal stock opened at $71.52 on Friday. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The company has a market cap of $40.95 billion, a PE ratio of 35.58, a price-to-earnings-growth ratio of 3.92 and a beta of 1.01. The company has a 50 day moving average of $68.33 and a 200-day moving average of $68.32. Fastenal has a 1-year low of $53.94 and a 1-year high of $79.04.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the business posted $0.52 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. As a group, equities research analysts forecast that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Friday, July 26th. Fastenal’s payout ratio is 77.61%.

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.