Nottingham Advisors Inc. reduced its position in Fastenal (NASDAQ:FAST) by 19.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,700 shares of the company’s stock after selling 3,000 shares during the period. Nottingham Advisors Inc.’s holdings in Fastenal were worth $693,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in FAST. Wolverine Asset Management LLC purchased a new position in Fastenal in the 4th quarter worth approximately $104,000. Exane Derivatives purchased a new stake in Fastenal during the 4th quarter valued at $110,000. SeaCrest Wealth Management LLC purchased a new stake in Fastenal during the 4th quarter valued at $115,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Fastenal by 87.8% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,500 shares of the company’s stock valued at $135,000 after buying an additional 1,169 shares during the last quarter. Finally, Dupont Capital Management Corp purchased a new stake in Fastenal during the 1st quarter valued at $159,000. Institutional investors own 84.79% of the company’s stock.
A number of equities research analysts have weighed in on FAST shares. Robert W. Baird reiterated a “buy” rating and set a $57.00 target price on shares of Fastenal in a research note on Tuesday, March 6th. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Friday, January 19th. Stephens boosted their target price on shares of Fastenal from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. KeyCorp reiterated a “buy” rating on shares of Fastenal in a research note on Friday, April 13th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $57.00 target price on shares of Fastenal in a research note on Monday, April 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $54.07.
Shares of FAST stock opened at $52.87 on Friday. Fastenal has a 1 year low of $52.38 and a 1 year high of $52.89. The company has a quick ratio of 2.30, a current ratio of 5.11 and a debt-to-equity ratio of 0.18. The firm has a market cap of $15.25 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, April 11th. The company reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. Fastenal had a net margin of 13.66% and a return on equity of 28.69%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. sell-side analysts forecast that Fastenal will post 2.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 23rd. Stockholders of record on Wednesday, April 25th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Tuesday, April 24th. Fastenal’s payout ratio is 76.68%.
In other news, Director Stephen L. Eastman bought 700 shares of the company’s stock in a transaction that occurred on Friday, April 27th. The stock was bought at an average price of $50.31 per share, with a total value of $35,217.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William Joseph Drazkowski sold 7,500 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $56.64, for a total transaction of $424,800.00. Following the completion of the transaction, the insider now directly owns 9,460 shares of the company’s stock, valued at approximately $535,814.40. The disclosure for this sale can be found here. In the last three months, insiders have bought 2,155 shares of company stock valued at $107,678. Insiders own 0.56% of the company’s stock.
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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