Cubist Systematic Strategies LLC lowered its position in shares of Fastenal Company (NASDAQ:FAST) by 16.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,069 shares of the company’s stock after selling 2,182 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Fastenal were worth $482,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Commonwealth Bank of Australia grew its holdings in shares of Fastenal by 44.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock worth $104,000 after purchasing an additional 753 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of Fastenal by 3.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,025 shares of the company’s stock worth $132,000 after purchasing an additional 88 shares during the period. FNY Managed Accounts LLC purchased a new stake in shares of Fastenal during the 1st quarter worth about $133,000. CENTRAL TRUST Co grew its holdings in shares of Fastenal by 13.4% during the 2nd quarter. CENTRAL TRUST Co now owns 3,665 shares of the company’s stock worth $159,000 after purchasing an additional 433 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in shares of Fastenal by 417.7% during the 1st quarter. Clearbridge Investments LLC now owns 3,277 shares of the company’s stock worth $169,000 after purchasing an additional 2,644 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

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Fastenal Company (FAST) opened at 48.39 on Monday. The stock has a market cap of $13.91 billion, a PE ratio of 25.81 and a beta of 1.00. The firm has a 50-day moving average price of $44.99 and a 200-day moving average price of $44.21. Fastenal Company has a 12-month low of $37.96 and a 12-month high of $52.74.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.50. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. Analysts forecast that Fastenal Company will post $1.93 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, October 25th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Tuesday, October 24th. Fastenal’s dividend payout ratio is 68.09%.

Fastenal announced that its board has initiated a share buyback plan on Tuesday, July 11th that allows the company to repurchase 5,000,000 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

In other Fastenal news, insider Leland J. Hein sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $48.74, for a total value of $487,400.00. Following the sale, the insider now owns 20,258 shares of the company’s stock, valued at approximately $987,374.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen L. Eastman bought 800 shares of the stock in a transaction on Tuesday, August 22nd. The stock was acquired at an average cost of $40.58 per share, for a total transaction of $32,464.00. The disclosure for this purchase can be found here. In the last three months, insiders have sold 28,000 shares of company stock worth $1,302,880. 0.55% of the stock is currently owned by insiders.

A number of analysts have recently issued reports on FAST shares. Robert W. Baird upgraded Fastenal from a “neutral” rating to an “outperform” rating and set a $53.00 target price for the company in a report on Wednesday, July 12th. Credit Suisse Group reiterated a “buy” rating and set a $52.00 target price on shares of Fastenal in a report on Thursday, July 13th. BMO Capital Markets boosted their target price on Fastenal from $49.00 to $51.00 and gave the stock a “no rating at time” rating in a report on Friday, July 14th. Morgan Stanley reiterated an “equal weight” rating and set a $43.00 target price (down previously from $46.00) on shares of Fastenal in a report on Monday, June 26th. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $47.00 target price (down previously from $51.00) on shares of Fastenal in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $50.80.

About Fastenal

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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