Fulton Bank N.A. Grows Stock Holdings in Fastenal (NASDAQ:FAST)

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Fulton Bank N.A. raised its stake in Fastenal (NASDAQ:FAST) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,676 shares of the company’s stock after buying an additional 636 shares during the period. Fulton Bank N.A.’s holdings in Fastenal were worth $989,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Fieldpoint Private Securities LLC acquired a new stake in shares of Fastenal in the 4th quarter worth approximately $25,000. ELM Advisors LLC purchased a new position in Fastenal during the 4th quarter valued at about $29,000. Kinloch Capital LLC acquired a new position in Fastenal during the fourth quarter worth about $31,000. Childress Capital Advisors LLC purchased a new stake in shares of Fastenal in the fourth quarter valued at about $32,000. Finally, JJJ Advisors Inc. grew its position in shares of Fastenal by 388.6% in the fourth quarter. JJJ Advisors Inc. now owns 772 shares of the company’s stock valued at $38,000 after purchasing an additional 614 shares during the last quarter. Institutional investors own 77.13% of the company’s stock.

NASDAQ FAST traded up $0.20 during mid-day trading on Thursday, hitting $50.13. The company’s stock had a trading volume of 1,253 shares, compared to its average volume of 3,428,156. The firm has a market capitalization of $28.79 billion, a P/E ratio of 34.20, a price-to-earnings-growth ratio of 3.69 and a beta of 1.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.39 and a quick ratio of 2.16. Fastenal has a 52-week low of $31.64 and a 52-week high of $51.89. The stock’s fifty day simple moving average is $47.85 and its two-hundred day simple moving average is $47.46.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Tuesday, January 19th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Fastenal had a net margin of 15.12% and a return on equity of 30.63%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the company earned $0.31 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. On average, equities analysts forecast that Fastenal will post 1.47 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 3rd. Shareholders of record on Wednesday, February 3rd were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Tuesday, February 2nd. This is a boost from Fastenal’s previous quarterly dividend of $0.25. Fastenal’s dividend payout ratio is currently 81.16%.

In other Fastenal news, Director Stephen L. Eastman acquired 1,000 shares of the stock in a transaction on Thursday, January 28th. The stock was purchased at an average price of $48.29 per share, for a total transaction of $48,290.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael J. Ancius bought 600 shares of the business’s stock in a transaction on Thursday, January 21st. The stock was acquired at an average cost of $48.42 per share, for a total transaction of $29,052.00. The disclosure for this purchase can be found here. Insiders acquired 6,950 shares of company stock valued at $327,042 in the last ninety days. 0.57% of the stock is owned by corporate insiders.

A number of equities analysts have recently weighed in on FAST shares. Morgan Stanley boosted their price target on Fastenal from $47.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday, January 21st. Zacks Investment Research lowered shares of Fastenal from a “hold” rating to a “sell” rating and set a $54.00 price objective for the company. in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft cut shares of Fastenal from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research note on Wednesday, December 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.70.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, 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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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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