Victory Capital Management Inc. lessened its stake in Fastenal (NASDAQ:FAST) by 71.0% in the 1st quarter, Holdings Channel reports. The firm owned 58,604 shares of the company’s stock after selling 143,503 shares during the period. Victory Capital Management Inc.’s holdings in Fastenal were worth $3,769,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of FAST. Securian Asset Management Inc increased its stake in Fastenal by 0.5% during the first quarter. Securian Asset Management Inc now owns 29,785 shares of the company’s stock worth $1,915,000 after acquiring an additional 150 shares during the last quarter. Old North State Trust LLC increased its stake in Fastenal by 20.6% during the first quarter. Old North State Trust LLC now owns 966 shares of the company’s stock worth $62,000 after acquiring an additional 165 shares during the last quarter. Park National Corp OH increased its stake in Fastenal by 2.9% during the first quarter. Park National Corp OH now owns 5,850 shares of the company’s stock worth $376,000 after acquiring an additional 167 shares during the last quarter. AdvisorNet Financial Inc increased its stake in Fastenal by 46.9% during the fourth quarter. AdvisorNet Financial Inc now owns 564 shares of the company’s stock worth $29,000 after acquiring an additional 180 shares during the last quarter. Finally, Utah Retirement Systems increased its stake in Fastenal by 0.4% during the fourth quarter. Utah Retirement Systems now owns 53,540 shares of the company’s stock worth $2,800,000 after acquiring an additional 200 shares during the last quarter. 84.94% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the company. ValuEngine cut Fastenal from a “sell” rating to a “strong sell” rating in a research note on Thursday. BidaskClub raised Fastenal from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 23rd. Zacks Investment Research cut Fastenal from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Buckingham Research raised their price target on Fastenal from $28.50 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, William Blair lowered Fastenal from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $30.85.
NASDAQ:FAST traded down $0.48 during midday trading on Friday, reaching $30.86. The company had a trading volume of 5,880,843 shares, compared to its average volume of 4,773,359. The firm has a market cap of $17.67 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 1.43 and a beta of 1.20. Fastenal has a 12-month low of $23.68 and a 12-month high of $35.94. The company has a current ratio of 4.31, a quick ratio of 1.97 and a debt-to-equity ratio of 0.20.
Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, April 11th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Fastenal had a return on equity of 33.52% and a net margin of 15.16%. During the same period last year, the business posted $0.31 earnings per share. Equities analysts forecast that Fastenal will post 2.84 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, April 24th were issued a $0.43 dividend. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $1.72 dividend on an annualized basis and a yield of 5.57%. Fastenal’s dividend payout ratio (DPR) is presently 65.40%.
In other news, CAO Sheryl Ann Lisowski sold 10,000 shares of Fastenal stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $71.38, for a total transaction of $713,800.00. Following the sale, the chief accounting officer now owns 10,300 shares in the company, valued at $735,214. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Lewis Soderberg sold 30,000 shares of Fastenal stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $70.62, for a total value of $2,118,600.00. Following the sale, the insider now owns 30,000 shares in the company, valued at approximately $2,118,600. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,970 shares of company stock valued at $12,905,432. 0.56% of the stock is currently owned by company insiders.
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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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