Fastenal (NASDAQ:FAST) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in shares of Fastenal (NASDAQ:FAST) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,572,999 shares of the company’s stock after purchasing an additional 165,423 shares during the period. Franklin Resources Inc.’s holdings in Fastenal were worth $350,703,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Fastenal during the third quarter worth approximately $25,000. Knuff & Co LLC bought a new position in Fastenal during the 3rd quarter valued at $27,000. Moisand Fitzgerald Tamayo LLC grew its holdings in Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after acquiring an additional 428 shares in the last quarter. First Personal Financial Services bought a new stake in shares of Fastenal in the 3rd quarter worth about $36,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Fastenal in the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other news, CAO Sheryl Ann Lisowski sold 13,567 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.19, for a total value of $1,033,669.73. Following the completion of the sale, the chief accounting officer now directly owns 5,096 shares of the company’s stock, valued at approximately $388,264.24. This represents a 72.69 % 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 31,818 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the transaction, the chief executive officer now owns 286,018 shares in the company, valued at $24,168,521. This represents a 10.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,289 shares of company stock valued at $12,639,438 in the last quarter. Corporate insiders own 0.41% of the company’s stock.

Fastenal Stock Performance

FAST stock opened at $78.47 on Friday. Fastenal has a 1 year low of $61.33 and a 1 year high of $84.88. The stock has a market capitalization of $44.95 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 4.69 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. The stock’s fifty day moving average is $79.47 and its two-hundred day moving average is $71.28.

Fastenal (NASDAQ:FAST) last posted its earnings results 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. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period in the previous year, the business posted $0.52 EPS. Fastenal’s revenue was up 3.5% on a year-over-year basis. On average, research analysts predict that Fastenal will post 2.03 EPS for the current year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Friday, October 25th. Fastenal’s dividend payout ratio is currently 77.61%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FAST. HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target for the company. in a research note on Wednesday. Jefferies Financial Group lifted their target price on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. UBS Group initiated coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target on the stock. Morgan Stanley lifted their price objective on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Finally, Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and a consensus price target of $77.40.

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.