NGAM Advisors L.P. increased its stake in shares of Fastenal Company (NASDAQ:FAST) by 85.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 231,984 shares of the company’s stock after buying an additional 106,599 shares during the period. NGAM Advisors L.P. owned approximately 0.08% of Fastenal worth $10,098,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FAST. FNY Managed Accounts LLC bought a new stake in shares of Fastenal during the first quarter valued at $133,000. Parkside Financial Bank & Trust boosted its stake in shares of Fastenal by 0.3% in the first quarter. Parkside Financial Bank & Trust now owns 2,937 shares of the company’s stock valued at $152,000 after buying an additional 9 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of Fastenal by 13.4% in the second quarter. CENTRAL TRUST Co now owns 3,665 shares of the company’s stock valued at $159,000 after buying an additional 433 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Fastenal by 417.7% in the first quarter. Clearbridge Investments LLC now owns 3,277 shares of the company’s stock valued at $169,000 after buying an additional 2,644 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Fastenal during the first quarter valued at $191,000. 82.54% of the stock is owned by institutional investors.

Fastenal Company (FAST) traded up 0.59% on Friday, hitting $42.61. The stock had a trading volume of 1,603,552 shares. The company has a market cap of $12.27 billion, a P/E ratio of 23.45 and a beta of 0.98. The stock has a 50 day moving average price of $43.14 and a 200 day moving average price of $46.53. Fastenal Company has a 1-year low of $37.70 and a 1-year high of $52.74.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Wednesday, July 12th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Fastenal had a return on equity of 26.86% and a net margin of 12.71%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. On average, equities research analysts expect that Fastenal Company will post $1.92 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, July 26th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, July 24th. This represents a $1.28 annualized dividend and a dividend yield of 3.00%. Fastenal’s payout ratio is currently 70.33%.

Fastenal declared that its board has authorized a stock repurchase plan on Tuesday, July 11th that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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Several equities research analysts have recently weighed in on the company. BidaskClub cut Fastenal from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Zacks Investment Research raised Fastenal from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Thursday, August 3rd. Morgan Stanley reissued an “equal weight” rating and issued a $46.00 price target (down previously from $50.00) on shares of Fastenal in a research note on Monday, June 12th. UBS AG raised Fastenal from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 19th. Finally, Credit Suisse Group set a $52.00 target price on Fastenal and gave the stock a “buy” rating in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Fastenal currently has an average rating of “Buy” and a consensus target price of $50.14.

In other Fastenal news, insider William Joseph Drazkowski acquired 1,000 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were acquired at an average cost of $42.36 per share, with a total value of $42,360.00. Following the transaction, the insider now owns 1,960 shares of the company’s stock, valued at approximately $83,025.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel L. Johnson acquired 600 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average cost of $42.71 per share, for a total transaction of $25,626.00. The disclosure for this purchase can be found here. Insiders purchased a total of 3,600 shares of company stock worth $154,256 in the last 90 days. 0.55% of the stock is currently owned by company insiders.

About Fastenal

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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