Wells Fargo & Company MN boosted its position in shares of Fastenal (NASDAQ:FAST) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,561,529 shares of the company’s stock after buying an additional 5,991 shares during the period. Wells Fargo & Company MN’s holdings in Fastenal were worth $85,400,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. First Trust Advisors LP boosted its stake in Fastenal by 1.4% during the fourth quarter. First Trust Advisors LP now owns 690,270 shares of the company’s stock valued at $37,751,000 after buying an additional 9,419 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Fastenal by 2.6% in the 4th quarter. Sei Investments Co. now owns 73,536 shares of the company’s stock valued at $4,021,000 after purchasing an additional 1,841 shares during the last quarter. ProVise Management Group LLC bought a new stake in shares of Fastenal in the 4th quarter valued at approximately $214,000. Roundview Capital LLC lifted its stake in shares of Fastenal by 167.4% in the 4th quarter. Roundview Capital LLC now owns 41,315 shares of the company’s stock valued at $2,259,000 after purchasing an additional 25,865 shares during the last quarter. Finally, Ffcm LLC lifted its stake in shares of Fastenal by 23.3% in the 4th quarter. Ffcm LLC now owns 18,846 shares of the company’s stock valued at $1,031,000 after purchasing an additional 3,564 shares during the last quarter. 85.08% of the stock is owned by institutional investors.
FAST has been the subject of several analyst reports. Zacks Investment Research raised Fastenal from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Friday, January 19th. Credit Suisse Group raised Fastenal to a “buy” rating and set a $61.00 price objective for the company in a research note on Thursday, January 18th. Stephens raised their price objective on Fastenal from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Robert W. Baird reaffirmed a “buy” rating on shares of Fastenal in a research note on Wednesday, January 17th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Fastenal in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $53.29.
In other Fastenal news, insider Charles S. Miller sold 26,250 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the transaction, the insider now directly owns 26,250 shares in the company, valued at approximately $1,483,125. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary A. Polipnick sold 2,634 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $53.45, for a total value of $140,787.30. Following the transaction, the insider now owns 59,323 shares in the company, valued at $3,170,814.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,884 shares of company stock worth $2,133,912. Company insiders own 0.55% of the company’s stock.
Shares of Fastenal (NASDAQ:FAST) opened at $54.19 on Friday. The company has a quick ratio of 2.40, a current ratio of 5.51 and a debt-to-equity ratio of 0.20. Fastenal has a fifty-two week low of $39.79 and a fifty-two week high of $57.81. The firm has a market capitalization of $15,639.90, a P/E ratio of 26.96, a PEG ratio of 1.55 and a beta of 1.03.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. Fastenal had a return on equity of 27.39% and a net margin of 13.18%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. research analysts anticipate that Fastenal will post 2.5 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Wednesday, January 31st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.73%. This is an increase from Fastenal’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, January 30th. Fastenal’s dividend payout ratio is presently 73.63%.
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Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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