Amundi Raises Stock Position in Fastenal Company $FAST

Amundi boosted its holdings in shares of Fastenal Company (NASDAQ:FAST) by 145.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,525,745 shares of the company’s stock after purchasing an additional 3,278,583 shares during the period. Amundi owned about 0.48% of Fastenal worth $232,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC boosted its stake in shares of Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after buying an additional 147 shares during the last quarter. Advisory Alpha LLC boosted its position in Fastenal by 5.8% in the 1st quarter. Advisory Alpha LLC now owns 3,407 shares of the company’s stock worth $264,000 after purchasing an additional 187 shares in the last quarter. Riverview Trust Co boosted its position in Fastenal by 100.0% in the 2nd quarter. Riverview Trust Co now owns 584 shares of the company’s stock worth $25,000 after purchasing an additional 292 shares in the last quarter. Financial Network Wealth Advisors LLC grew its stake in shares of Fastenal by 19.4% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,980 shares of the company’s stock worth $154,000 after purchasing an additional 322 shares during the period. Finally, Private Wealth Management Group LLC increased its holdings in shares of Fastenal by 111.9% during the 2nd quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock valued at $27,000 after purchasing an additional 339 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fastenal

In related news, Director Hsenghung Sam Hsu acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was acquired at an average price of $49.58 per share, for a total transaction of $49,580.00. Following the purchase, the director owned 10,000 shares of the company’s stock, valued at $495,800. This represents a 11.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sarah N. Nielsen acquired 1,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were bought at an average cost of $39.60 per share, with a total value of $39,600.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $198,000. This represents a 25.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 3,000 shares of company stock worth $131,630 in the last ninety days. 0.37% of the stock is owned by corporate insiders.

Fastenal Stock Performance

NASDAQ:FAST opened at $41.50 on Friday. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. The company has a 50 day moving average price of $42.52 and a 200 day moving average price of $44.39. The stock has a market capitalization of $47.64 billion, a P/E ratio of 38.79, a PEG ratio of 3.48 and a beta of 0.89.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm earned $0.26 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Equities research analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, October 28th were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, October 28th. This represents a $0.88 annualized dividend and a yield of 2.1%. Fastenal’s dividend payout ratio is 82.24%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FAST shares. Wolfe Research raised shares of Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 price target on the stock in a report on Thursday, November 13th. Barclays lowered their target price on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 13th. Robert W. Baird cut their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Northcoast Research initiated coverage on Fastenal in a report on Thursday, August 21st. They issued a “neutral” rating for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Fastenal in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.70.

About Fastenal

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.