Ossiam purchased a new stake in shares of Fastenal (NASDAQ:FAST) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,986 shares of the company’s stock, valued at approximately $162,000.
Other institutional investors also recently bought and sold shares of the company. Strategy Asset Managers LLC purchased a new position in Fastenal during the first quarter valued at approximately $32,000. Trustcore Financial Services LLC purchased a new position in Fastenal during the first quarter valued at approximately $43,000. Bremer Bank National Association purchased a new position in Fastenal during the first quarter valued at approximately $53,000. Farmers & Merchants Investments Inc. increased its holdings in Fastenal by 94.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 774 shares of the company’s stock valued at $25,000 after buying an additional 375 shares during the period. Finally, Advisors Preferred LLC purchased a new position in Fastenal during the second quarter valued at approximately $26,000. 84.90% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on FAST. Buckingham Research cut their price objective on shares of Fastenal from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Raymond James cut their price target on shares of Fastenal from $39.00 to $37.00 and set a “strong-buy” rating on the stock in a report on Friday, July 12th. Wells Fargo & Co cut their price target on shares of Fastenal from $35.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday, July 12th. Zacks Investment Research raised shares of Fastenal from a “sell” rating to a “hold” rating and set a $34.00 price target on the stock in a report on Tuesday. Finally, BidaskClub raised shares of Fastenal from a “hold” rating to a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $31.50.
In other news, CAO Sheryl Ann Lisowski sold 5,615 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $33.50, for a total transaction of $188,102.50. Following the sale, the chief accounting officer now directly owns 10,382 shares of the company’s stock, valued at $347,797. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael J. Ancius acquired 1,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $28.99 per share, for a total transaction of $28,990.00. The disclosure for this purchase can be found here. Insiders have bought 4,604 shares of company stock worth $138,479 over the last three months. Corporate insiders own 0.56% of the company’s stock.
NASDAQ FAST traded up $0.33 on Friday, hitting $33.96. The stock had a trading volume of 751,114 shares, compared to its average volume of 3,296,961. The business’s fifty day moving average price is $30.44 and its 200 day moving average price is $46.26. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.68 and a quick ratio of 2.13. Fastenal has a 52-week low of $24.00 and a 52-week high of $35.94. The stock has a market cap of $18.80 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 1.49 and a beta of 1.23.
Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Thursday, July 11th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.01). The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Fastenal had a return on equity of 32.27% and a net margin of 14.74%. Fastenal’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 earnings per share. As a group, sell-side analysts anticipate that Fastenal will post 1.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, July 25th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Wednesday, July 24th. Fastenal’s dividend payout ratio (DPR) is presently 66.67%.
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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