Ensign Peak Advisors Inc Acquires 1,389,993 Shares of Fastenal Company $FAST

Ensign Peak Advisors Inc lifted its stake in shares of Fastenal Company (NASDAQ:FAST) by 107.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,687,762 shares of the company’s stock after purchasing an additional 1,389,993 shares during the period. Ensign Peak Advisors Inc owned approximately 0.23% of Fastenal worth $112,886,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of Fastenal in the 4th quarter valued at $496,000. Teachers Retirement System of The State of Kentucky raised its holdings in Fastenal by 4.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 44,233 shares of the company’s stock worth $3,430,000 after purchasing an additional 1,862 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in Fastenal by 12.2% during the 1st quarter. Crestwood Advisors Group LLC now owns 7,417 shares of the company’s stock worth $575,000 after purchasing an additional 809 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Fastenal during the 1st quarter valued at about $7,497,000. Finally, KLP Kapitalforvaltning AS boosted its stake in shares of Fastenal by 3.9% in the 1st quarter. KLP Kapitalforvaltning AS now owns 195,748 shares of the company’s stock valued at $15,180,000 after purchasing an additional 7,400 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of FAST opened at $39.55 on Thursday. The firm’s 50 day moving average price is $44.24 and its two-hundred day moving average price is $44.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 4.26. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The firm has a market cap of $45.40 billion, a P/E ratio of 36.96, a PEG ratio of 3.75 and a beta of 0.92.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, October 14th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Fastenal had a net margin of 15.34% and a return on equity of 32.69%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the firm posted $0.26 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. On average, analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, October 28th. Fastenal’s dividend payout ratio (DPR) is currently 82.24%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Robert W. Baird reduced their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. Wolfe Research raised Fastenal from an “underperform” rating to a “peer perform” rating and set a $43.00 target price on the stock in a research note on Thursday, November 13th. Northcoast Research started coverage on Fastenal in a research report on Thursday, August 21st. They set a “neutral” rating for the company. Finally, Barclays cut their price target on shares of Fastenal from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and an average target price of $46.32.

Insider Buying and Selling

In other news, Director Hsenghung Sam Hsu purchased 1,000 shares of Fastenal stock in a transaction on Thursday, November 13th. The stock was purchased at an average price of $49.58 per share, with a total value of $49,580.00. Following the transaction, the director directly owned 10,000 shares in the company, valued at $495,800. The trade was a 11.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.37% of the company’s stock.

Fastenal 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.