Osmosis Investment Management UK Ltd Buys New Position in Fastenal Company $FAST

Osmosis Investment Management UK Ltd purchased a new position in shares of Fastenal Company (NASDAQ:FAST) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 218,345 shares of the company’s stock, valued at approximately $10,487,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Fastenal during the second quarter worth approximately $26,000. Evergreen Advisors LLC purchased a new stake in Fastenal in the 1st quarter valued at $26,000. Palladiem LLC acquired a new stake in Fastenal during the 4th quarter worth $25,000. Elyxium Wealth LLC purchased a new position in Fastenal during the 4th quarter worth $25,000. Finally, MV Capital Management Inc. purchased a new position in Fastenal during the 4th quarter worth $29,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In other Fastenal news, Director Rita J. Heise sold 34,964 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total transaction of $1,749,948.20. Following the transaction, the director directly owned 20,000 shares in the company, valued at approximately $1,001,000. This represents a 63.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael J. Ancius sold 3,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the completion of the transaction, the director directly owned 58,690 shares of the company’s stock, valued at approximately $2,875,810. This trade represents a 4.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. DA Davidson reiterated a “neutral” rating and set a $46.00 target price on shares of Fastenal in a research note on Wednesday, July 15th. Robert W. Baird set a $54.00 price objective on Fastenal in a research note on Friday, August 7th. Wolfe Research reiterated an “underperform” rating and issued a $47.00 target price on shares of Fastenal in a research note on Thursday, July 9th. Rothschild & Co Redburn set a $55.00 target price on Fastenal and gave the company a “buy” rating in a report on Monday, July 13th. Finally, Barclays cut their price target on Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $49.17.

Fastenal Price Performance

Fastenal stock opened at $51.26 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $52.92. The company has a market cap of $58.82 billion, a PE ratio of 43.44, a price-to-earnings-growth ratio of 3.20 and a beta of 0.72. The stock’s 50 day moving average price is $47.96 and its 200 day moving average price is $46.38.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.Fastenal’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 earnings per share. On average, sell-side analysts predict that Fastenal Company will post 1.26 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, July 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s payout ratio is 88.14%.

Fastenal Company Profile

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.