BNP Paribas Arbitrage SA increased its position in Fastenal Co. (NASDAQ:FAST) by 498.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,226 shares of the company’s stock after buying an additional 100,963 shares during the period. BNP Paribas Arbitrage SA’s holdings in Fastenal were worth $5,065,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Cullinan Associates Inc. increased its stake in Fastenal by 82.7% in the third quarter. Cullinan Associates Inc. now owns 58,100 shares of the company’s stock worth $2,427,000 after buying an additional 26,300 shares during the last quarter. Beacon Financial Group increased its stake in Fastenal by 1.4% in the third quarter. Beacon Financial Group now owns 96,072 shares of the company’s stock worth $3,924,000 after buying an additional 1,293 shares during the last quarter. Carnick & Kubik Group LLC bought a new stake in Fastenal during the second quarter worth $513,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Fastenal during the second quarter worth $518,000. Finally, Kentucky Retirement Systems bought a new stake in Fastenal during the second quarter worth $1,090,000. 81.67% of the stock is owned by institutional investors and hedge funds.
Shares of Fastenal Co. (NASDAQ:FAST) traded up 0.28% on Friday, hitting $46.37. The stock had a trading volume of 538,363 shares. The firm has a 50 day moving average price of $41.23 and a 200-day moving average price of $42.89. The company has a market cap of $13.40 billion, a price-to-earnings ratio of 26.99 and a beta of 0.92. Fastenal Co. has a 52 week low of $35.10 and a 52 week high of $49.99.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, October 11th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The business earned $1.01 billion during the quarter. Fastenal had a return on equity of 26.84% and a net margin of 12.61%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 earnings per share. Analysts anticipate that Fastenal Co. will post $1.71 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Tuesday, October 25th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Friday, October 21st. Fastenal’s dividend payout ratio is presently 69.77%.
Several brokerages recently issued reports on FAST. Zacks Investment Research upgraded Fastenal from a “sell” rating to a “hold” rating in a research note on Friday. BMO Capital Markets restated a “hold” rating and set a $45.00 price objective on shares of Fastenal in a research note on Monday, November 7th. Argus cut Fastenal from a “buy” rating to a “hold” rating in a research note on Friday, October 14th. Robert W. Baird restated a “neutral” rating and set a $45.00 price objective on shares of Fastenal in a research note on Thursday, October 13th. Finally, Vetr cut Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 price objective on the stock. in a research note on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $47.93.
In other news, Director Michael J. Ancius acquired 700 shares of the stock in a transaction dated Thursday, October 13th. The shares were acquired at an average cost of $38.82 per share, for a total transaction of $27,174.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.78% of the company’s stock.
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.