Hussman Strategic Advisors Inc. Continues to Hold Stake in Fastenal Company (FAST)

Hussman Strategic Advisors Inc. continued to hold its stake in Fastenal Company (NASDAQ:FAST) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,400 shares of the company’s stock at the end of the second quarter. Hussman Strategic Advisors Inc.’s holdings in Fastenal were worth $104,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of FAST. Macquarie Group Ltd. raised its stake in shares of Fastenal by 77.1% in the fourth quarter. Macquarie Group Ltd. now owns 18,600 shares of the company’s stock valued at $874,000 after buying an additional 8,100 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in Fastenal by 3.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 251,864 shares of the company’s stock worth $12,971,000 after buying an additional 7,250 shares during the period. Creative Planning raised its stake in Fastenal by 11.0% in the first quarter. Creative Planning now owns 11,010 shares of the company’s stock worth $567,000 after buying an additional 1,087 shares during the period. Gulf International Bank UK Ltd increased its position in shares of Fastenal by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 85,076 shares of the company’s stock worth $4,381,000 after buying an additional 1,100 shares in the last quarter. Finally, National Pension Service increased its position in shares of Fastenal by 10.6% in the first quarter. National Pension Service now owns 255,525 shares of the company’s stock worth $13,114,000 after buying an additional 24,418 shares in the last quarter. 81.68% of the stock is owned by institutional investors.

Shares of Fastenal Company (NASDAQ:FAST) traded down 2.24% during mid-day trading on Friday, reaching $40.68. 3,385,360 shares of the company’s stock traded hands. Fastenal Company has a 12-month low of $37.70 and a 12-month high of $52.74. The stock has a market capitalization of $11.71 billion, a PE ratio of 22.39 and a beta of 0.98. The company’s 50-day moving average price is $43.10 and its 200-day moving average price is $46.24.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, July 12th. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. Fastenal had a net margin of 12.71% and a return on equity of 26.86%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the business earned $0.46 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts anticipate that Fastenal Company will post $1.92 earnings per share for the current year.

The business also recently disclosed 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. This represents a $1.28 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Monday, July 24th. Fastenal’s dividend payout ratio (DPR) is 70.33%.

Fastenal declared that its Board of Directors has initiated a share repurchase program on Tuesday, July 11th that allows the company to buyback 5,000,000 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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A number of research analysts recently issued reports on the company. BidaskClub downgraded Fastenal from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Thursday, August 3rd. UBS AG upgraded Fastenal from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Northcoast Research reaffirmed a “buy” rating on shares of Fastenal in a research report on Friday, August 4th. Finally, J P Morgan Chase & Co started coverage on Fastenal in a research report on Friday, June 2nd. They issued a “neutral” rating and a $46.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $50.14.

In related news, Director Daniel L. Johnson acquired 600 shares of Fastenal stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average price of $42.71 per share, for a total transaction of $25,626.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Holden Lewis bought 1,000 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were acquired at an average price of $43.76 per share, with a total value of $43,760.00. Following the transaction, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $43,760. The disclosure for this purchase can be found here. Insiders purchased 3,600 shares of company stock valued at $154,256 in the last quarter. Company insiders own 0.55% of the company’s stock.

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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