Public Employees Retirement System of Ohio Trims Stake in Fastenal (NASDAQ:FAST)

Public Employees Retirement System of Ohio lowered its stake in shares of Fastenal (NASDAQ:FAST) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 316,940 shares of the company’s stock after selling 5,033 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Fastenal were worth $24,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of FAST. Pacer Advisors Inc. increased its position in shares of Fastenal by 10.2% during the fourth quarter. Pacer Advisors Inc. now owns 66,646 shares of the company’s stock valued at $4,317,000 after buying an additional 6,178 shares during the period. Assenagon Asset Management S.A. grew its holdings in Fastenal by 178.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 78,030 shares of the company’s stock worth $5,054,000 after purchasing an additional 49,972 shares during the period. Global Retirement Partners LLC grew its holdings in Fastenal by 5.5% in the fourth quarter. Global Retirement Partners LLC now owns 5,493 shares of the company’s stock worth $350,000 after purchasing an additional 284 shares during the period. State of Alaska Department of Revenue grew its holdings in Fastenal by 2.1% in the fourth quarter. State of Alaska Department of Revenue now owns 113,550 shares of the company’s stock worth $7,354,000 after purchasing an additional 2,335 shares during the period. Finally, Pinnacle Associates Ltd. grew its holdings in Fastenal by 2.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 8,771 shares of the company’s stock worth $568,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

Fastenal stock traded up $0.46 during midday trading on Monday, reaching $70.83. 1,207,081 shares of the company traded hands, compared to its average volume of 3,694,555. The firm has a market capitalization of $40.56 billion, a price-to-earnings ratio of 35.01, a price-to-earnings-growth ratio of 3.79 and a beta of 1.01. The business has a 50 day moving average of $65.20 and a two-hundred day moving average of $68.92. Fastenal has a 12 month low of $53.83 and a 12 month high of $79.04. 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 (NASDAQ:FAST) last issued its quarterly earnings data on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. As a group, research analysts predict that Fastenal will post 2.06 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, July 26th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, July 26th. This represents a $1.56 dividend on an annualized basis and a yield of 2.20%. Fastenal’s dividend payout ratio (DPR) is 77.61%.

Analyst Ratings Changes

FAST has been the topic of a number of recent research reports. Robert W. Baird cut their price objective on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. HSBC upped their price objective on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Jefferies Financial Group cut their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Stifel Nicolaus reiterated a “buy” rating and set a $80.00 price target (down previously from $85.00) on shares of Fastenal in a report on Monday, July 15th. Finally, Stephens reiterated an “equal weight” rating and set a $56.00 price target on shares of Fastenal in a report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $66.67.

Insider Activity at Fastenal

In other Fastenal news, Director Hsenghung Sam Hsu purchased 500 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were acquired at an average cost of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the transaction, the director now owns 3,500 shares of the company’s stock, valued at $221,480. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Fastenal news, EVP James C. Jansen sold 11,428 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total value of $732,191.96. Following the transaction, the executive vice president now directly owns 26,176 shares in the company, valued at $1,677,096.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hsenghung Sam Hsu acquired 500 shares of Fastenal stock in a transaction dated Monday, June 10th. The stock was purchased at an average cost of $63.28 per share, with a total value of $31,640.00. Following the completion of the purchase, the director now owns 3,500 shares of the company’s stock, valued at $221,480. The disclosure for this purchase can be found here. 0.41% of the stock is owned by insiders.

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.