Eqis Capital Management Inc. Increases Holdings in Fastenal (NASDAQ:FAST)

Eqis Capital Management Inc. boosted its stake in shares of Fastenal (NASDAQ:FAST) by 58.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 25,149 shares of the company’s stock after purchasing an additional 9,321 shares during the quarter. Eqis Capital Management Inc.’s holdings in Fastenal were worth $1,308,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FAST. D.A. Davidson & CO. boosted its stake in Fastenal by 55.6% during the first quarter. D.A. Davidson & CO. now owns 11,921 shares of the company’s stock worth $599,000 after buying an additional 4,258 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Fastenal by 82.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 75,218 shares of the company’s stock valued at $3,782,000 after purchasing an additional 33,992 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Fastenal by 1.8% in the 1st quarter. BlackRock Inc. now owns 44,817,256 shares of the company’s stock valued at $2,253,413,000 after purchasing an additional 792,222 shares during the last quarter. Checchi Capital Advisers LLC acquired a new position in shares of Fastenal in the 1st quarter valued at $242,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Fastenal by 42.0% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 29,109 shares of the company’s stock valued at $1,464,000 after purchasing an additional 8,609 shares during the last quarter. 77.47% of the stock is currently owned by institutional investors.

In other news, VP Charles S. Miller sold 35,141 shares of the stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $55.10, for a total value of $1,936,269.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Hsenghung Sam Hsu bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 13th. The stock was purchased at an average cost of $53.20 per share, with a total value of $53,200.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at $159,600. The disclosure for this purchase can be found here. In the last quarter, insiders bought 2,265 shares of company stock worth $123,014 and sold 142,089 shares worth $7,910,739. Corporate insiders own 0.56% of the company’s stock.

Several equities analysts have recently commented on the company. Loop Capital initiated coverage on Fastenal in a research note on Tuesday, August 3rd. They issued a “hold” rating and a $52.00 price target on the stock. Stephens increased their target price on Fastenal from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, August 23rd. Morgan Stanley lowered Fastenal from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $53.00 to $48.00 in a research note on Tuesday, June 15th. They noted that the move was a valuation call. Finally, Robert W. Baird increased their target price on Fastenal from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.29.

Shares of NASDAQ FAST opened at $54.10 on Friday. The stock’s 50-day moving average is $54.64 and its two-hundred day moving average is $52.58. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.16 and a quick ratio of 2.12. Fastenal has a 1-year low of $42.57 and a 1-year high of $56.39. The company has a market cap of $31.09 billion, a price-to-earnings ratio of 35.83, a price-to-earnings-growth ratio of 3.83 and a beta of 1.28.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Monday, July 12th. The company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Fastenal had a return on equity of 30.76% and a net margin of 15.24%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the business earned $0.42 EPS. Fastenal’s revenue was down .1% on a year-over-year basis. Equities research analysts anticipate that Fastenal will post 1.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 24th. Stockholders of record on Tuesday, July 27th were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, July 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.07%. Fastenal’s payout ratio is currently 75.17%.

About Fastenal

Fastenal Co engages in the provision of fasteners, tools, and supplies which can help in the manufacture of products, build structures, protect personnel, and maintain facilities and equipment. It products include cutting tools & metalworking, fasteners, material handling, storage & packaging power, transmission & motors, tools & equipment, electricals, abrasives, hydraulics & pneumatics, plumbing, lifting & rigging, raw materials, fleet & automotive, welding, office products & furniture, janitorial and lighting.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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