Healthcare of Ontario Pension Plan Trust Fund Raises Holdings in Fastenal (NASDAQ:FAST)

Healthcare of Ontario Pension Plan Trust Fund boosted its position in Fastenal (NASDAQ:FAST) by 107.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,858 shares of the company’s stock after purchasing an additional 56,294 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Fastenal were worth $7,775,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Aaron Wealth Advisors LLC purchased a new position in Fastenal in the 3rd quarter valued at approximately $310,000. Comgest Global Investors S.A.S. increased its position in Fastenal by 73.0% during the third quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company’s stock worth $6,219,000 after buying an additional 36,742 shares in the last quarter. Cetera Investment Advisers increased its position in Fastenal by 499.7% during the first quarter. Cetera Investment Advisers now owns 132,046 shares of the company’s stock worth $10,186,000 after buying an additional 110,027 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Fastenal by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 210,998 shares of the company’s stock worth $13,259,000 after buying an additional 11,436 shares in the last quarter. Finally, Peak Financial Advisors LLC purchased a new position in Fastenal during the second quarter worth $2,643,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fastenal

In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total value of $52,944.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John Lewis Soderberg sold 488 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.32, for a total value of $37,244.16. The disclosure for this sale can be found here. Insiders have sold 208,289 shares of company stock worth $16,123,438 over the last three months. Company insiders own 0.41% of the company’s stock.

Fastenal Trading Down 0.2 %

Fastenal stock opened at $83.56 on Friday. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. Fastenal has a 12 month low of $59.49 and a 12 month high of $84.88. The company’s fifty day simple moving average is $77.57 and its 200-day simple moving average is $70.29. The stock has a market cap of $47.87 billion, a P/E ratio of 41.57, a P/E/G ratio of 4.90 and a beta of 0.99.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS. As a group, sell-side analysts forecast that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 25th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, October 25th. Fastenal’s dividend payout ratio (DPR) is 77.61%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Bank of America assumed coverage on Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price target for the company. Stephens raised their price objective on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Robert W. Baird raised their price objective on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $86.00 target price (up previously from $80.00) on shares of Fastenal in a report on Monday, October 14th. Finally, Morgan Stanley lifted their target price on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $74.80.

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.