Bamco Inc. NY cut its holdings in shares of Fastenal (NASDAQ:FAST) by 0.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,339,752 shares of the company’s stock after selling 2,784 shares during the period. Bamco Inc. NY owned approximately 0.47% of Fastenal worth $73,137,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in FAST. Element Capital Management LLC acquired a new stake in Fastenal during the fourth quarter valued at approximately $44,222,000. Elkfork Partners LLC acquired a new stake in Fastenal during the fourth quarter valued at approximately $43,602,000. OppenheimerFunds Inc. lifted its stake in Fastenal by 18.8% during the fourth quarter. OppenheimerFunds Inc. now owns 4,876,680 shares of the company’s stock valued at $266,706,000 after purchasing an additional 772,198 shares during the last quarter. Madison Investment Holdings Inc. lifted its stake in Fastenal by 65.2% during the fourth quarter. Madison Investment Holdings Inc. now owns 1,036,393 shares of the company’s stock valued at $56,680,000 after purchasing an additional 409,114 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Fastenal by 1.8% during the fourth quarter. BlackRock Inc. now owns 18,537,864 shares of the company’s stock valued at $1,013,833,000 after purchasing an additional 325,415 shares during the last quarter. 84.79% of the stock is owned by institutional investors and hedge funds.
Several analysts recently commented on the stock. BidaskClub raised shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, April 3rd. KeyCorp reissued a “buy” rating on shares of Fastenal in a research note on Friday, April 13th. BMO Capital Markets reissued a “hold” rating and set a $57.00 target price on shares of Fastenal in a research note on Monday, April 9th. Finally, Robert W. Baird restated a “buy” rating and set a $57.00 price target on shares of Fastenal in a report on Tuesday, March 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $54.07.
FAST stock opened at $52.76 on Friday. Fastenal has a 52-week low of $39.79 and a 52-week high of $58.74. The company has a current ratio of 5.11, a quick ratio of 2.30 and a debt-to-equity ratio of 0.18. The company has a market cap of $15.25 billion, a PE ratio of 27.34, a PEG ratio of 1.51 and a beta of 1.01.
Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Wednesday, April 11th. The company reported $0.61 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.61. Fastenal had a net margin of 13.66% and a return on equity of 28.69%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business earned $0.46 earnings per share. The firm’s revenue was up 13.2% compared to the same quarter last year. equities research analysts anticipate that Fastenal will post 2.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 23rd. Shareholders of record on Wednesday, April 25th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, April 24th. This represents a $1.48 annualized dividend and a yield of 2.81%. Fastenal’s dividend payout ratio is presently 76.68%.
In related news, CFO Holden Lewis acquired 1,000 shares of the company’s stock in a transaction on Monday, April 30th. The shares were purchased at an average price of $50.28 per share, for a total transaction of $50,280.00. Following the purchase, the chief financial officer now owns 3,000 shares in the company, valued at $150,840. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William Joseph Drazkowski sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were 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 owns 9,460 shares in the company, valued at approximately $535,814.40. The disclosure for this sale can be found here. In the last quarter, insiders acquired 2,155 shares of company stock worth $107,678. Company insiders own 0.56% of the company’s stock.
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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