DAVENPORT & Co LLC decreased its position in Fastenal (NASDAQ:FAST) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,023 shares of the company’s stock after selling 770 shares during the period. DAVENPORT & Co LLC’s holdings in Fastenal were worth $993,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of FAST. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Fastenal by 64.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,878,250 shares of the company’s stock valued at $166,144,000 after acquiring an additional 1,526,965 shares during the last quarter. FMR LLC boosted its holdings in Fastenal by 72.5% in the second quarter. FMR LLC now owns 1,627,880 shares of the company’s stock valued at $69,738,000 after acquiring an additional 684,114 shares during the last quarter. Capital Research Global Investors bought a new position in Fastenal in the first quarter valued at about $19,844,000. Nordea Investment Management AB boosted its holdings in Fastenal by 95.7% in the second quarter. Nordea Investment Management AB now owns 1,270,456 shares of the company’s stock valued at $53,652,000 after acquiring an additional 621,129 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in Fastenal by 1.4% in the second quarter. BlackRock Inc. now owns 45,737,441 shares of the company’s stock valued at $1,959,395,000 after acquiring an additional 620,997 shares during the last quarter. Institutional investors and hedge funds own 77.18% of the company’s stock.
NASDAQ FAST opened at $45.26 on Friday. The firm has a market cap of $25.96 billion, a P/E ratio of 31.00, a P/E/G ratio of 3.63 and a beta of 1.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.13 and a quick ratio of 1.91. The stock’s 50-day moving average is $45.63 and its 200-day moving average is $42.19. Fastenal has a one year low of $26.72 and a one year high of $49.86.
Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Sunday, October 18th. The company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.01. Fastenal had a return on equity of 31.19% and a net margin of 15.07%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the firm posted $0.37 earnings per share. Fastenal’s revenue was up 2.5% compared to the same quarter last year. Equities analysts anticipate that Fastenal will post 1.46 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, October 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Monday, October 26th. Fastenal’s dividend payout ratio is presently 72.46%.
Several equities analysts recently issued reports on FAST shares. Wells Fargo & Company cut Fastenal from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a report on Thursday, September 3rd. They noted that the move was a valuation call. Stephens assumed coverage on Fastenal in a report on Thursday. They set an “overweight” rating on the stock. BidaskClub cut Fastenal from a “buy” rating to a “hold” rating in a report on Thursday, September 10th. Argus raised their target price on Fastenal from $43.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Raymond James cut Fastenal from a “market perform” rating to an “underperform” rating in a report on Friday, September 4th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $44.36.
In related news, VP Leland J. Hein sold 9,100 shares of Fastenal stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $44.37, for a total value of $403,767.00. Following the sale, the vice president now owns 19,032 shares of the company’s stock, valued at approximately $844,449.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Terry Modock Owen sold 1,250 shares of Fastenal stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $49.53, for a total value of $61,912.50. The disclosure for this sale can be found here. In the last three months, insiders sold 96,724 shares of company stock worth $4,473,812. 0.57% of the stock is owned by 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, 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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