Fastenal (FAST) Position Decreased by Federated Investors Inc. PA

Federated Investors Inc. PA lessened its holdings in Fastenal (NASDAQ:FAST) by 33.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,850 shares of the company’s stock after selling 1,919 shares during the period. Federated Investors Inc. PA’s holdings in Fastenal were worth $186,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in FAST. Cantillon Capital Management LLC purchased a new position in shares of Fastenal in the 2nd quarter valued at about $154,074,000. USS Investment Management Ltd purchased a new position in shares of Fastenal in the 2nd quarter valued at about $27,288,000. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Fastenal by 9,724.1% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 434,715 shares of the company’s stock valued at $20,923,000 after purchasing an additional 430,290 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Fastenal in the 1st quarter valued at about $23,037,000. Finally, Bank of Montreal Can purchased a new position in shares of Fastenal in the 2nd quarter valued at about $19,220,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.

NASDAQ:FAST opened at $58.07 on Friday. Fastenal has a 12 month low of $42.51 and a 12 month high of $61.14. The company has a quick ratio of 2.57, a current ratio of 5.62 and a debt-to-equity ratio of 0.19. The company has a market cap of $16.64 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 1.62 and a beta of 0.97.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, July 11th. The company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.08. Fastenal had a return on equity of 30.82% and a net margin of 14.57%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business earned $0.52 EPS. Fastenal’s quarterly revenue was up 13.1% on a year-over-year basis. equities research analysts forecast that Fastenal will post 2.56 earnings per share for the current year.

FAST has been the subject of several recent analyst reports. Northcoast Research set a $60.00 price target on Fastenal and gave the company a “buy” rating in a research note on Friday, July 13th. Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Tuesday, July 3rd. ValuEngine upgraded Fastenal from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. BidaskClub upgraded Fastenal from a “hold” rating to a “buy” rating in a research note on Tuesday, August 21st. Finally, Stifel Nicolaus lifted their price target on Fastenal from $53.00 to $56.00 and gave the company a “hold” rating in a research note on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $55.55.

Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

See Also: Return on Equity (ROE)

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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