BlackRock Fund Advisors has recently announced that it has increased stake in Fastenal Co. (NASDAQ:FAST) by 0.46%. After grabbing 31.0 million shares, the institutional investor is now in possession of 0.14 million shares of the Industrials Company. The new investment brought the stake of investor firm to 5.42% having worth around $1.86 billion. Moreover, SSgA Funds Management, Inc. increased its share by 0.64 million to have a control over 28.11 million shares. And Geode Capital Management LLC raised its holdings to 0.29 million shares by acquiring 14.41 million shares or 2.52% of the stake.
Fastenal Co. (FAST) concluded trading on 01/03/24 at a closing price of $62.08, with 3.87 million shares of worth about $240.5 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 7.24% during that period and on Wednesday the price saw a loss of about -2.31%. Currently the company’s common shares owned by public are about 570.81M shares, out of which, 570.23M shares are available for trading.
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Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $69.00 and could fall to a lowest price of $56.00. The stock’s current price level is -2.95% below of average price target set by the analysts, while a dip to estimated low would result in loss of -10.86% for the stock. However, touching the estimated high of $69.00 would mean a gain of 10.03% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 21 times over the past 12 months. They bought 161,316 shares in 11 of the transactions. In 10 selling transactions, insiders dumped 159,335 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Fastenal Co. Vanguard Total Stock Market ETF is currently holding 17.9 million shares of worth totaling $1.07 billion. The company recently came buying 33442.0 shares which brought its stake up to 3.13% of the company’s outstanding shares. Vanguard 500 Index Fund bought 68985.0 shares, after which its hold over company’s outstanding shares expand to 2.42%, leaving 13.8 million shares with the mutual fund that have a worth of about $827.58 million. Vanguard Mid Cap Index Fund, after buying 12.97 million shares, have now control over 2.27% of the stake in the company. It holds 32698.0 shares of worth $778.05 million.
Fastenal Co. (NASDAQ: FAST) started trading at $63.45, below -$0.1 from concluding price of the previous day. However, the stock later moved at a day high price of 63.53, or with a loss of -2.31%. Stock saw a price change of -5.15% in past 5 days and over the past one month there was a price change of 2.71%. Year-to-date (YTD), FAST shares are showing a performance of -4.15% which increased to 32.01% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $45.42 but also hit the highest price of $65.66 during that period. The average intraday trading volume for Fastenal Co. shares is 3.56 million. The stock is currently trading -2.71% below its 20-day simple moving average (SMA20), while that difference is up 1.85% for SMA50 and it goes to 9.44% higher than SMA200.
BlackRock Fund Advisors acquired 31.0 million shares of Fastenal Co. having value of about $1.86 billion. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.14 million shares in the company valued at close to $8854904.96, or have control over 0.46% stake in the company. Fastenal Co. (NASDAQ: FAST) currently have 570.81M outstanding shares and institutions hold larger chunk of about 81.61% of that. Holding of mutual funds in the company is about 44.14% while other institutional holders and individual stake holders have control over 6.47% and 38.13% of the stake respectively.
The stock has a current market capitalization of $35.47B and its 3Y-monthly beta is at 1.04. PE ratio of stock for trailing 12 months is 31.36, while it has posted earnings per share of $1.98 in the same period. Its PEG reads 4.95 and has Quick Ratio of 2.45 while making debt-to-equity ratio of 0.16. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FAST, volatility over the week remained 1.42% while standing at 1.23% over the month.
Analysts are in expectations that Fastenal Co. (FAST) stock would likely to be making an EPS of $0.45 in the current quarter, while forecast for next quarter EPS is $0.52 and it is $2.13 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.44 which is $0.46 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.43 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 5.94% while it is estimated to increase by 6.17% in next year. EPS is likely to shrink at an annualized rate of 6.33% for next 5-years, compared to annual growth of 13.44% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by HSBC Securities on September 15, 2023 offering a Hold rating for the stock and assigned a target price of $59 to it.
