Bright Rock Capital Management LLC Purchases 18,400 Shares of Fastenal (NASDAQ:FAST)

Bright Rock Capital Management LLC raised its position in Fastenal (NASDAQ:FAST) by 56.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,800 shares of the company’s stock after purchasing an additional 18,400 shares during the quarter. Bright Rock Capital Management LLC’s holdings in Fastenal were worth $1,656,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Comerica Securities Inc. raised its position in shares of Fastenal by 4.6% in the fourth quarter. Comerica Securities Inc. now owns 10,742 shares of the company’s stock valued at $562,000 after buying an additional 475 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Fastenal by 17.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,282,850 shares of the company’s stock valued at $67,081,000 after buying an additional 192,809 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Fastenal by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 4,165,575 shares of the company’s stock valued at $217,478,000 after buying an additional 225,481 shares during the last quarter. Tikehau Investment Management raised its position in shares of Fastenal by 0.9% in the fourth quarter. Tikehau Investment Management now owns 261,779 shares of the company’s stock valued at $13,688,000 after buying an additional 2,225 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new position in shares of Fastenal in the fourth quarter valued at approximately $959,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Fastenal stock traded up $1.05 during trading on Tuesday, reaching $31.69. The company had a trading volume of 3,843,678 shares, compared to its average volume of 4,744,110. Fastenal has a 12-month low of $24.00 and a 12-month high of $35.94. The business’s 50 day moving average price is $31.79. The stock has a market capitalization of $18.17 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.25. The company has a quick ratio of 2.13, a current ratio of 4.68 and a debt-to-equity ratio of 0.25.

Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, July 11th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Fastenal had a net margin of 14.74% and a return on equity of 32.27%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the firm posted $0.37 earnings per share. Fastenal’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts expect that Fastenal will post 1.38 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, July 25th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.88 dividend on an annualized basis and a yield of 2.78%. Fastenal’s payout ratio is 65.15%.

In other Fastenal news, CAO Sheryl Ann Lisowski sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $71.38, for a total transaction of $713,800.00. Following the completion of the sale, the chief accounting officer now directly owns 10,300 shares in the company, valued at $735,214. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicholas J. Lundquist sold 37,500 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $70.48, for a total transaction of $2,643,000.00. Following the sale, the insider now owns 253,500 shares of the company’s stock, valued at $17,866,680. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,541 shares of company stock valued at $7,611,453. 0.62% of the stock is owned by insiders.

A number of equities analysts have recently weighed in on the stock. ValuEngine lowered shares of Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Morgan Stanley set a $207.00 target price on shares of Alibaba Group and gave the company a “buy” rating in a report on Friday, July 12th. Wells Fargo & Co set a $29.00 target price on shares of Establishment Labs and gave the company a “buy” rating in a report on Friday, July 12th. Buckingham Research lowered their target price on shares of Fastenal from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Finally, William Blair restated a “market perform” rating on shares of Luminex in a report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Fastenal has an average rating of “Hold” and an average target price of $31.31.

About Fastenal

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.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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