Victory Capital Management Inc. Has $89.53 Million Stock Holdings in Fastenal (NASDAQ:FAST)

Victory Capital Management Inc. decreased its holdings in shares of Fastenal (NASDAQ:FAST) by 14.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,382,284 shares of the company’s stock after selling 228,322 shares during the period. Victory Capital Management Inc. owned 0.24% of Fastenal worth $89,531,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Savant Capital LLC grew its holdings in Fastenal by 5.7% in the fourth quarter. Savant Capital LLC now owns 4,935 shares of the company’s stock worth $320,000 after purchasing an additional 265 shares during the period. Certuity LLC raised its stake in Fastenal by 68.0% during the 4th quarter. Certuity LLC now owns 6,793 shares of the company’s stock worth $440,000 after buying an additional 2,750 shares during the period. Norden Group LLC raised its stake in Fastenal by 7.9% during the 4th quarter. Norden Group LLC now owns 4,687 shares of the company’s stock worth $304,000 after buying an additional 345 shares during the period. Penobscot Investment Management Company Inc. raised its stake in Fastenal by 21.1% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 13,200 shares of the company’s stock worth $855,000 after buying an additional 2,300 shares during the period. Finally, Kestra Private Wealth Services LLC raised its stake in Fastenal by 89.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 11,399 shares of the company’s stock worth $738,000 after buying an additional 5,372 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Performance

Shares of FAST stock opened at $68.43 on Friday. Fastenal has a one year low of $52.85 and a one year high of $79.04. The company has a market cap of $39.18 billion, a P/E ratio of 33.88, a P/E/G ratio of 3.56 and a beta of 1.07. The firm has a 50-day moving average of $73.21 and a 200-day moving average of $67.01. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49.

Fastenal (NASDAQ:FAST) last posted its earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. Fastenal’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 EPS. Equities research analysts forecast that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be given a $0.39 dividend. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.28%. Fastenal’s dividend payout ratio is currently 77.23%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Loop Capital dropped their price target on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Robert W. Baird reduced their price objective on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, April 12th. HSBC upped their target price on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Finally, Stifel Nicolaus lifted their price target on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.67.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Daniel L. Johnson bought 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The shares were bought at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the purchase, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Daniel L. Johnson bought 3,350 shares of Fastenal stock in a transaction dated Wednesday, April 17th. The stock was purchased at an average cost of $68.38 per share, with a total value of $229,073.00. Following the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at $724,486.10. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The disclosure for this sale can be found here. Insiders sold 36,082 shares of company stock worth $2,584,060 in the last quarter. 0.41% of the stock is currently owned by company insiders.

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.