Patriot Financial Group Insurance Agency LLC acquired a new position in Fastenal (NASDAQ:FAST) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 744 shares of the company’s stock, valued at approximately $39,000.
Several other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can grew its holdings in Fastenal by 23.8% during the 3rd quarter. Bank of Montreal Can now owns 494,532 shares of the company’s stock valued at $28,693,000 after purchasing an additional 95,225 shares in the last quarter. Piedmont Investment Advisors Inc. boosted its stake in Fastenal by 626.9% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 23,681 shares of the company’s stock valued at $1,374,000 after acquiring an additional 20,423 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Fastenal by 18.5% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,049,956 shares of the company’s stock valued at $60,918,000 after acquiring an additional 164,235 shares during the last quarter. DNB Asset Management AS boosted its stake in Fastenal by 14.9% during the 4th quarter. DNB Asset Management AS now owns 53,980 shares of the company’s stock valued at $2,823,000 after acquiring an additional 7,012 shares during the last quarter. Finally, Cadence Capital Management LLC boosted its stake in Fastenal by 31.1% during the 3rd quarter. Cadence Capital Management LLC now owns 38,555 shares of the company’s stock valued at $2,237,000 after acquiring an additional 9,147 shares during the last quarter. 86.72% of the stock is owned by institutional investors.
Fastenal stock opened at $60.68 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 5.30. Fastenal has a 1 year low of $47.37 and a 1 year high of $62.12. The stock has a market capitalization of $17.35 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.34 and a beta of 1.18.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Thursday, January 17th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.60. Fastenal had a net margin of 15.14% and a return on equity of 33.48%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the firm posted $0.45 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, research analysts expect that Fastenal will post 2.83 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 27th. Stockholders of record on Thursday, January 31st will be given a $0.43 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.40. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Wednesday, January 30th. Fastenal’s dividend payout ratio (DPR) is presently 65.40%.
In related news, Director Michael John Dolan sold 2,500 shares of the stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $60.00, for a total value of $150,000.00. Following the sale, the director now owns 12,500 shares of the company’s stock, valued at approximately $750,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas J. Lundquist sold 5,000 shares of the stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $60.51, for a total transaction of $302,550.00. Following the completion of the sale, the insider now directly owns 216,000 shares in the company, valued at approximately $13,070,160. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,500 shares of company stock worth $752,550. Insiders own 0.56% of the company’s stock.
A number of research analysts have commented on FAST shares. Longbow Research upgraded shares of Fastenal from a “neutral” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Tuesday, December 4th. They noted that the move was a valuation call. BidaskClub upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Saturday, November 17th. Zacks Investment Research downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. Wolfe Research upgraded shares of Fastenal from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 8th. Finally, ValuEngine upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Thursday, November 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Fastenal has a consensus rating of “Hold” and an average price target of $56.92.
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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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