OneDigital Investment Advisors LLC Decreases Stock Position in Fastenal (NASDAQ:FAST)

OneDigital Investment Advisors LLC decreased its stake in shares of Fastenal (NASDAQ:FAST) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,966 shares of the company’s stock after selling 992 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Fastenal were worth $1,569,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Legal & General Group Plc increased its stake in shares of Fastenal by 3.4% during the second quarter. Legal & General Group Plc now owns 5,909,206 shares of the company’s stock worth $371,334,000 after buying an additional 193,734 shares during the period. Envestnet Asset Management Inc. grew its holdings in Fastenal by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,665,482 shares of the company’s stock worth $293,179,000 after acquiring an additional 66,130 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Fastenal by 13.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 4,420,659 shares of the company’s stock valued at $277,794,000 after purchasing an additional 517,172 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Fastenal by 19.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock valued at $241,161,000 after purchasing an additional 636,546 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Fastenal by 2.9% during the second quarter. ProShare Advisors LLC now owns 3,190,744 shares of the company’s stock worth $200,506,000 after purchasing an additional 91,411 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of FAST stock opened at $81.85 on Monday. The stock’s 50-day moving average price is $74.96 and its 200 day moving average price is $69.24. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $46.89 billion, a PE ratio of 40.72, a price-to-earnings-growth ratio of 4.80 and a beta of 0.99. Fastenal has a 52-week low of $59.47 and a 52-week high of $84.88.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts forecast that Fastenal will post 2.03 EPS for the current year.

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.91%. Fastenal’s dividend payout ratio (DPR) is 77.61%.

Insider Transactions at Fastenal

In other Fastenal news, insider William Joseph Drazkowski sold 16,362 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.65, for a total transaction of $1,270,509.30. Following the sale, the insider now directly owns 5,997 shares in the company, valued at approximately $465,667.05. The trade was a 73.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,489,266.52. This represents a 13.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,033 shares of company stock worth $19,240,434 over the last ninety days. 0.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on FAST. JPMorgan Chase & Co. raised their price target on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Bank of America initiated coverage on Fastenal in a research note on Monday, October 7th. They set a “buy” rating and a $85.00 target price for the company. Stephens raised their price objective on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. UBS Group started coverage on shares of Fastenal in a report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price for the company. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $86.00 target price (up from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.80.

Fastenal Company 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.