Fastenal (FAST) Holdings Raised by Turtle Creek Asset Management Inc.

Turtle Creek Asset Management Inc. raised its holdings in shares of Fastenal (NASDAQ:FAST) by 1,022.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 455,700 shares of the company’s stock after acquiring an additional 415,100 shares during the quarter. Fastenal makes up about 2.1% of Turtle Creek Asset Management Inc.’s investment portfolio, making the stock its 13th biggest position. Turtle Creek Asset Management Inc. owned about 0.16% of Fastenal worth $20,771,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Commonwealth Bank of Australia increased its holdings in shares of Fastenal by 44.9% in the second quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock worth $104,000 after purchasing an additional 753 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Fastenal in the third quarter worth about $114,000. Cable Hill Partners LLC bought a new stake in shares of Fastenal in the third quarter worth about $126,000. Krilogy Financial LLC increased its holdings in shares of Fastenal by 2.0% in the second quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock worth $154,000 after purchasing an additional 70 shares during the last quarter. Finally, QS Investors LLC increased its holdings in shares of Fastenal by 1.6% in the second quarter. QS Investors LLC now owns 4,051 shares of the company’s stock worth $176,000 after purchasing an additional 63 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

In other Fastenal news, insider Terry Modock Owen sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $48.02, for a total transaction of $1,440,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Leland J. Hein sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $47.14, for a total value of $471,400.00. Following the transaction, the insider now owns 21,290 shares of the company’s stock, valued at approximately $1,003,610.60. The disclosure for this sale can be found here. Insiders have sold 80,112 shares of company stock valued at $3,879,832 in the last 90 days. Company insiders own 0.55% of the company’s stock.

Several equities research analysts have recently issued reports on FAST shares. BidaskClub cut Fastenal from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. BMO Capital Markets reaffirmed a “hold” rating and issued a $46.00 target price on shares of Fastenal in a report on Monday, August 21st. Stephens set a $54.00 target price on Fastenal and gave the stock a “buy” rating in a report on Wednesday, October 11th. Morgan Stanley reiterated an “equal weight” rating and issued a $46.00 price target (up previously from $44.00) on shares of Fastenal in a research report on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $46.00 price target on shares of Fastenal in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $50.80.

Fastenal (NASDAQ FAST) opened at $53.89 on Wednesday. The company has a market capitalization of $15,770.00, a PE ratio of 27.75, a P/E/G ratio of 1.93 and a beta of 1.08. Fastenal has a 12-month low of $39.79 and a 12-month high of $55.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.36 and a quick ratio of 2.45.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. analysts expect that Fastenal will post 1.93 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, October 24th. This represents a $1.28 annualized dividend and a dividend yield of 2.38%. Fastenal’s dividend payout ratio (DPR) is presently 68.09%.

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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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