Epoch Investment Partners Inc. Buys 90,071 Shares of Fastenal (NASDAQ:FAST)

Epoch Investment Partners Inc. boosted its stake in shares of Fastenal (NASDAQ:FAST) by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,032,818 shares of the company’s stock after purchasing an additional 90,071 shares during the quarter. Epoch Investment Partners Inc. owned about 0.36% of Fastenal worth $127,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Penobscot Investment Management Company Inc. boosted its stake in shares of Fastenal by 1.1% in the first quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock worth $1,030,000 after buying an additional 150 shares during the last quarter. Sara Bay Financial grew its stake in shares of Fastenal by 1.3% during the 2nd quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock worth $746,000 after purchasing an additional 155 shares during the period. Trueblood Wealth Management LLC lifted its stake in shares of Fastenal by 1.4% in the 2nd quarter. Trueblood Wealth Management LLC now owns 11,314 shares of the company’s stock valued at $711,000 after purchasing an additional 156 shares during the period. Team Hewins LLC lifted its stake in shares of Fastenal by 4.8% in the 1st quarter. Team Hewins LLC now owns 3,404 shares of the company’s stock valued at $263,000 after purchasing an additional 157 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in Fastenal by 2.0% during the first quarter. Bleakley Financial Group LLC now owns 8,173 shares of the company’s stock worth $630,000 after buying an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Stock Down 0.9 %

Shares of FAST opened at $70.75 on Friday. The stock has a 50 day moving average price of $68.05 and a 200 day moving average price of $68.45. Fastenal has a one year low of $53.83 and a one year high of $79.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39. The stock has a market capitalization of $40.51 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 3.78 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, July 12th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. Equities research analysts forecast that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, July 26th. Fastenal’s dividend payout ratio is currently 77.61%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Morgan Stanley assumed coverage on Fastenal in a report on Friday, September 6th. They issued an “equal weight” rating and a $72.00 price target for the company. Stephens reissued an “equal weight” rating and issued a $56.00 price objective on shares of Fastenal in a report on Monday, July 15th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $80.00 target price (down from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $67.43.

Insider Transactions at Fastenal

In related news, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the transaction, the chief executive officer now owns 286,018 shares in the company, valued at $19,489,266.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at approximately $19,489,266.52. The disclosure for this sale can be found here. Insiders own 0.41% 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.