Royal London Asset Management Ltd. Has $6.81 Million Position in Fastenal (FAST)

Royal London Asset Management Ltd. cut its holdings in Fastenal (NASDAQ:FAST) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,438 shares of the company’s stock after selling 4,520 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Fastenal were worth $6,813,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Fastenal by 1.4% during the 2nd quarter. BlackRock Inc. now owns 19,318,036 shares of the company’s stock valued at $929,778,000 after buying an additional 268,614 shares during the last quarter. OppenheimerFunds Inc. raised its stake in Fastenal by 5.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 5,666,164 shares of the company’s stock valued at $272,713,000 after buying an additional 282,020 shares during the last quarter. Northern Trust Corp raised its stake in Fastenal by 3.3% during the 2nd quarter. Northern Trust Corp now owns 3,437,593 shares of the company’s stock valued at $165,451,000 after buying an additional 108,486 shares during the last quarter. Cantillon Capital Management LLC purchased a new stake in Fastenal during the 2nd quarter valued at $154,074,000. Finally, Janus Henderson Group PLC raised its stake in Fastenal by 17.4% during the 2nd quarter. Janus Henderson Group PLC now owns 2,520,269 shares of the company’s stock valued at $121,301,000 after buying an additional 373,989 shares during the last quarter. 84.37% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:FAST opened at $56.73 on Friday. The company has a quick ratio of 2.48, a current ratio of 5.35 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $16.28 billion, a PE ratio of 29.39, a P/E/G ratio of 1.56 and a beta of 1.01. Fastenal has a one year low of $47.37 and a one year high of $61.14.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, October 10th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. Fastenal had a return on equity of 32.29% and a net margin of 15.25%. Fastenal’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 EPS. Sell-side analysts expect that Fastenal will post 2.59 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Wednesday, October 24th were paid a $0.40 dividend. The ex-dividend date was Tuesday, October 23rd. This represents a $1.60 annualized dividend and a dividend yield of 2.82%. Fastenal’s dividend payout ratio (DPR) is 82.90%.

A number of equities research analysts have weighed in on the stock. ValuEngine lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Wednesday, October 17th. BidaskClub upgraded shares of Fastenal from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Buckingham Research assumed coverage on shares of Fastenal in a research note on Monday, October 22nd. They set a “neutral” rating and a $50.00 target price for the company. Finally, Wells Fargo & Co set a $50.00 target price on shares of Fastenal and gave the company a “hold” rating in a research note on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $56.40.

In related news, CEO Daniel L. Florness acquired 2,000 shares of Fastenal stock in a transaction dated Friday, October 12th. The stock was purchased at an average cost of $51.95 per share, for a total transaction of $103,900.00. Following the purchase, the chief executive officer now directly owns 99,845 shares of the company’s stock, valued at approximately $5,186,947.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Terry Modock Owen acquired 1,500 shares of Fastenal stock in a transaction dated Friday, October 12th. The stock was bought at an average price of $52.07 per share, with a total value of $78,105.00. Following the completion of the purchase, the insider now directly owns 3,500 shares in the company, valued at $182,245. The disclosure for this purchase can be found here. Insiders bought a total of 5,795 shares of company stock valued at $299,849 over the last 90 days. 0.56% of the stock is currently owned by company insiders.

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About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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