Groupe la Francaise Purchases 13,789 Shares of Fastenal Company $FAST

Groupe la Francaise raised its position in Fastenal Company (NASDAQ:FAST) by 9.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 152,612 shares of the company’s stock after acquiring an additional 13,789 shares during the period. Groupe la Francaise’s holdings in Fastenal were worth $7,081,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of FAST. Elyxium Wealth LLC bought a new position in shares of Fastenal in the 4th quarter worth $25,000. Palladiem LLC bought a new stake in Fastenal during the 4th quarter valued at $25,000. Evergreen Advisors LLC bought a new stake in Fastenal during the 1st quarter valued at $26,000. MV Capital Management Inc. acquired a new position in Fastenal during the fourth quarter worth $29,000. Finally, Field & Main Bank acquired a new position in Fastenal during the fourth quarter worth $30,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

FAST opened at $47.71 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21. The company has a market capitalization of $54.75 billion, a price-to-earnings ratio of 40.43, a P/E/G ratio of 2.92 and a beta of 0.72. The firm’s fifty day moving average price is $46.31 and its two-hundred day moving average price is $45.57. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $50.63.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.33. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 EPS. As a group, analysts anticipate that Fastenal Company will post 1.25 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, July 28th. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s payout ratio is currently 88.14%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FAST. Rothschild & Co Redburn set a $55.00 price objective on shares of Fastenal and gave the company a “buy” rating in a report on Monday, July 13th. JPMorgan Chase & Co. boosted their target price on shares of Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Bank of America upped their target price on shares of Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a research report on Wednesday, July 15th. Finally, DA Davidson reiterated a “neutral” rating and set a $46.00 price target on shares of Fastenal in a research note on Wednesday, July 15th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $48.83.

Insider Activity at Fastenal

In other Fastenal news, Director Michael J. Ancius sold 3,000 shares of Fastenal stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the transaction, the director owned 58,690 shares of the company’s stock, valued at $2,875,810. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is currently owned by corporate insiders.

About Fastenal

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.