Janus Henderson Group PLC Reduces Position in Fastenal (FAST)

Janus Henderson Group PLC cut its position in shares of Fastenal (NASDAQ:FAST) by 5.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,376,689 shares of the company’s stock after selling 143,580 shares during the quarter. Janus Henderson Group PLC owned about 0.83% of Fastenal worth $137,895,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of FAST. Cantillon Capital Management LLC bought a new stake in Fastenal in the second quarter worth about $154,074,000. MERIAN GLOBAL INVESTORS UK Ltd lifted its holdings in shares of Fastenal by 39,030.3% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,396,560 shares of the company’s stock worth $81,028,000 after acquiring an additional 1,392,991 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Fastenal by 69.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,281,061 shares of the company’s stock valued at $132,347,000 after buying an additional 938,217 shares during the last quarter. Morgan Stanley increased its position in Fastenal by 35.3% during the 2nd quarter. Morgan Stanley now owns 2,184,270 shares of the company’s stock valued at $105,130,000 after purchasing an additional 569,836 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in Fastenal by 9,724.1% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 434,715 shares of the company’s stock valued at $20,923,000 after purchasing an additional 430,290 shares during the period. Institutional investors own 84.37% of the company’s stock.

In other news, Director Daniel L. Johnson purchased 965 shares of the firm’s stock in a transaction dated Monday, October 22nd. The stock was bought at an average price of $51.56 per share, with a total value of $49,755.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Holden Lewis purchased 500 shares of the firm’s stock in a transaction dated Tuesday, October 16th. The stock was purchased at an average cost of $52.28 per share, with a total value of $26,140.00. Following the acquisition, the chief financial officer now directly owns 3,500 shares in the company, valued at $182,980. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 5,795 shares of company stock valued at $299,849. 0.56% of the stock is owned by corporate insiders.

Several equities analysts have issued reports on FAST shares. ValuEngine upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Thursday, November 15th. BidaskClub raised shares of Fastenal from a “hold” rating to a “buy” rating in a report on Saturday, November 17th. Zacks Investment Research downgraded Fastenal from a “buy” rating to a “hold” rating in a research report on Tuesday, November 13th. Finally, Wells Fargo & Co set a $50.00 price objective on Fastenal and gave the company a “hold” rating in a report on Thursday, October 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Fastenal presently has a consensus rating of “Hold” and a consensus target price of $56.40.

NASDAQ:FAST opened at $55.86 on Monday. Fastenal has a 52 week low of $47.37 and a 52 week high of $61.14. The company has a market cap of $16.03 billion, a PE ratio of 28.94, a P/E/G ratio of 1.54 and a beta of 1.01. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.35 and a quick ratio of 2.48.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, October 10th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. Fastenal had a return on equity of 32.29% and a net margin of 15.25%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities research analysts anticipate that Fastenal will post 2.59 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, October 24th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Tuesday, October 23rd. Fastenal’s payout ratio is presently 82.90%.

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Fastenal Company Profile

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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