Sciencast Management LP boosted its position in Fastenal (NASDAQ:FAST) by 60.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,014 shares of the company’s stock after acquiring an additional 7,130 shares during the period. Sciencast Management LP’s holdings in Fastenal were worth $821,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Fastenal by 3.6% in the first quarter. BlackRock Inc. now owns 45,116,444 shares of the company’s stock valued at $1,409,891,000 after acquiring an additional 1,577,504 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Fastenal by 5.5% in the first quarter. Geode Capital Management LLC now owns 11,072,213 shares of the company’s stock valued at $345,458,000 after acquiring an additional 580,606 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Fastenal by 4.7% in the first quarter. Principal Financial Group Inc. now owns 9,300,460 shares of the company’s stock valued at $290,640,000 after acquiring an additional 416,919 shares during the last quarter. Legal & General Group Plc boosted its holdings in Fastenal by 4.1% in the first quarter. Legal & General Group Plc now owns 4,364,817 shares of the company’s stock valued at $136,478,000 after acquiring an additional 171,374 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Fastenal by 458.7% in the first quarter. Franklin Resources Inc. now owns 3,962,340 shares of the company’s stock valued at $123,823,000 after acquiring an additional 3,253,078 shares during the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.
FAST stock opened at $47.04 on Friday. The company has a quick ratio of 1.91, a current ratio of 4.13 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average price of $43.24 and a two-hundred day moving average price of $37.90. The company has a market cap of $26.87 billion, a price-to-earnings ratio of 32.44, a P/E/G ratio of 3.63 and a beta of 1.20. Fastenal has a twelve month low of $26.72 and a twelve month high of $47.07.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Tuesday, July 14th. The company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.06. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. Fastenal had a return on equity of 31.19% and a net margin of 15.07%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. On average, equities research analysts anticipate that Fastenal will post 1.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, July 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.13%. Fastenal’s dividend payout ratio is currently 72.46%.
In other news, VP Leland J. Hein sold 10,000 shares of Fastenal stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $37.92, for a total transaction of $379,200.00. Following the completion of the transaction, the vice president now directly owns 25,222 shares in the company, valued at approximately $956,418.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Joseph Drazkowski sold 7,142 shares of Fastenal stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $39.40, for a total value of $281,394.80. Following the transaction, the insider now owns 12,722 shares of the company’s stock, valued at $501,246.80. The disclosure for this sale can be found here. Insiders have sold a total of 156,826 shares of company stock valued at $6,594,303 over the last quarter. 0.57% of the stock is currently owned by corporate insiders.
Several equities analysts have weighed in on the company. Morgan Stanley increased their target price on Fastenal from $36.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. ValuEngine lowered Fastenal from a “hold” rating to a “sell” rating in a research note on Wednesday, July 8th. Stephens increased their target price on Fastenal from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Wells Fargo & Co raised their price target on Fastenal from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Finally, Robert W. Baird raised their price target on Fastenal from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Fastenal currently has a consensus rating of “Hold” and a consensus price target of $41.90.
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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