IQ EQ FUND MANAGEMENT IRELAND Ltd Has $4.92 Million Holdings in Fastenal (NASDAQ:FAST)

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Fastenal (NASDAQ:FAST) by 6.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,873 shares of the company’s stock after purchasing an additional 3,937 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Fastenal were worth $4,919,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Fastenal by 5.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock worth $186,000 after buying an additional 143 shares during the last quarter. Penobscot Investment Management Company Inc. boosted its holdings in Fastenal by 1.1% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock valued at $1,030,000 after purchasing an additional 150 shares during the period. Sara Bay Financial grew its position in Fastenal by 1.3% in the 2nd quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock worth $746,000 after purchasing an additional 155 shares during the last quarter. Trueblood Wealth Management LLC increased its holdings in shares of Fastenal by 1.4% during the 2nd quarter. Trueblood Wealth Management LLC now owns 11,314 shares of the company’s stock worth $711,000 after purchasing an additional 156 shares during the period. Finally, Team Hewins LLC raised its position in shares of Fastenal by 4.8% during the first quarter. Team Hewins LLC now owns 3,404 shares of the company’s stock valued at $263,000 after buying an additional 157 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Up 1.1 %

FAST opened at $77.77 on Thursday. The firm has a market cap of $44.53 billion, a price-to-earnings ratio of 38.69, a PEG ratio of 4.13 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39. The firm’s 50-day simple moving average is $69.46 and its 200-day simple moving average is $67.95. Fastenal has a twelve month low of $56.41 and a twelve month high of $79.04.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. Equities research analysts anticipate that Fastenal will post 2.04 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 2.01%. Fastenal’s dividend payout ratio is 77.61%.

Insider Buying and Selling at Fastenal

In other news, CAO Sheryl Ann Lisowski sold 13,567 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $76.19, for a total transaction of $1,033,669.73. Following the sale, the chief accounting officer now owns 5,096 shares in the company, valued at approximately $388,264.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $1,033,669.73. Following the transaction, the chief accounting officer now directly owns 5,096 shares in the company, valued at approximately $388,264.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,489,266.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,799 shares of company stock worth $9,967,510. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

FAST has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday. Jefferies Financial Group lowered their price objective on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Bank of America initiated coverage on Fastenal in a research report on Monday, October 7th. They issued a “buy” rating and a $85.00 target price for the company. Robert W. Baird boosted their price target on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday. Finally, Stifel Nicolaus restated a “buy” rating and issued a $86.00 price objective (up previously from $80.00) on shares of Fastenal in a research note on Monday. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Fastenal has an average rating of “Hold” and an average price target of $73.33.

Fastenal Company 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.