Gamble Jones Investment Counsel cut its position in shares of Fastenal (NASDAQ:FAST) by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,730 shares of the company’s stock after selling 1,198 shares during the period. Gamble Jones Investment Counsel’s holdings in Fastenal were worth $1,732,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Fastenal by 6.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 16,833 shares of the company’s stock worth $921,000 after purchasing an additional 1,023 shares during the last quarter. Suntrust Banks Inc. increased its stake in shares of Fastenal by 10.7% during the 4th quarter. Suntrust Banks Inc. now owns 10,807 shares of the company’s stock worth $589,000 after purchasing an additional 1,048 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Fastenal by 87.8% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,500 shares of the company’s stock worth $135,000 after purchasing an additional 1,169 shares during the last quarter. Comerica Bank increased its stake in shares of Fastenal by 1.1% during the 1st quarter. Comerica Bank now owns 109,998 shares of the company’s stock worth $5,564,000 after purchasing an additional 1,175 shares during the last quarter. Finally, Reik & CO. LLC increased its stake in shares of Fastenal by 17.2% during the 4th quarter. Reik & CO. LLC now owns 8,190 shares of the company’s stock worth $448,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors own 85.50% of the company’s stock.
Fastenal opened at $52.80 on Friday, according to MarketBeat.com. 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 stock has a market capitalization of $15.12 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01. Fastenal has a 12-month low of $39.79 and a 12-month high of $58.74.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, April 11th. The company reported $0.61 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.61. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. Fastenal had a net margin of 13.66% and a return on equity of 28.69%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 EPS. research analysts forecast that Fastenal will post 2.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 23rd. Shareholders of record on Wednesday, April 25th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Tuesday, April 24th. Fastenal’s dividend payout ratio is currently 76.68%.
Several analysts recently commented on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $57.00 target price on shares of Fastenal in a report on Monday, April 9th. Robert W. Baird reaffirmed a “buy” rating and set a $57.00 target price on shares of Fastenal in a report on Tuesday, March 6th. Zacks Investment Research downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a report on Friday, April 13th. Northcoast Research set a $60.00 target price on shares of Fastenal and gave the stock a “buy” rating in a report on Friday, March 2nd. Finally, KeyCorp reaffirmed a “buy” rating on shares of Fastenal in a report on Friday, April 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $54.07.
In other Fastenal news, insider James C. Jansen sold 29,758 shares of the business’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $52.51, for a total value of $1,562,592.58. Following the completion of the sale, the insider now owns 22,588 shares of the company’s stock, valued at approximately $1,186,095.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Holden Lewis acquired 1,000 shares of the business’s stock in a transaction on Monday, April 30th. The stock was acquired at an average cost of $50.28 per share, with a total value of $50,280.00. Following the acquisition, the chief financial officer now directly owns 3,000 shares in the company, valued at $150,840. The disclosure for this purchase can be found here. Insiders acquired a total of 2,155 shares of company stock valued at $107,678 in the last three months. 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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