Bares Capital Management Inc. increased its position in shares of Fastenal (NASDAQ:FAST) by 0.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,740,893 shares of the company’s stock after buying an additional 7,509 shares during the period. Fastenal accounts for 7.8% of Bares Capital Management Inc.’s holdings, making the stock its 3rd biggest position. Bares Capital Management Inc. owned about 1.30% of Fastenal worth $204,215,000 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 the stock. BlackRock Inc. lifted its holdings 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in Fastenal by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,263,173 shares of the company’s stock valued at $889,434,000 after purchasing an additional 43,229 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings 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 in the last quarter. Geode Capital Management LLC lifted its holdings in Fastenal by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 3,494,513 shares of the company’s stock valued at $190,768,000 after purchasing an additional 95,784 shares in the last quarter. Finally, River Road Asset Management LLC lifted its holdings in Fastenal by 14.6% during the first quarter. River Road Asset Management LLC now owns 1,987,250 shares of the company’s stock valued at $108,484,000 after purchasing an additional 253,465 shares in the last quarter. 84.79% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider William Joseph Drazkowski sold 7,500 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 9,460 shares in the company, valued at $535,814.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James C. Jansen sold 29,758 shares of the firm’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $52.51, for a total transaction of $1,562,592.58. Following the sale, the insider now owns 22,588 shares of the company’s stock, valued at $1,186,095.88. The disclosure for this sale can be found here. Insiders bought 2,155 shares of company stock valued at $107,678 over the last quarter. Company insiders own 0.56% of the company’s stock.
Several research firms have issued reports on FAST. BMO Capital Markets reaffirmed a “hold” rating and set a $57.00 price objective on shares of Fastenal in a report on Monday, April 9th. Robert W. Baird reaffirmed a “buy” rating and set a $57.00 price objective 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 price objective on shares of Fastenal and gave the company 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 research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $54.07.
Shares of Fastenal opened at $52.87 on Friday, according to MarketBeat.com. The stock has a market capitalization of $15.10 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01. The company has a quick ratio of 2.30, a current ratio of 5.11 and a debt-to-equity ratio of 0.18. Fastenal has a 52 week low of $52.38 and a 52 week high of $52.89.
Fastenal (NASDAQ:FAST) last issued its earnings results on Wednesday, April 11th. The company reported $0.61 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.61. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Fastenal had a net margin of 13.66% and a return on equity of 28.69%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. equities research analysts predict that Fastenal will post 2.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 23rd. Stockholders of record on Wednesday, April 25th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Tuesday, April 24th. Fastenal’s dividend payout ratio (DPR) is 76.68%.
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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