Resources Management Corp CT ADV acquired a new position in shares of Fastenal (NASDAQ:FAST) during the 3rd quarter, Holdings Channel reports. The fund acquired 1,800 shares of the company’s stock, valued at approximately $59,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Boston Research & Management Inc. raised its position in shares of Fastenal by 97.3% during the second quarter. Boston Research & Management Inc. now owns 163,726 shares of the company’s stock worth $5,335,000 after purchasing an additional 80,748 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Fastenal by 108.2% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 172,826 shares of the company’s stock valued at $5,632,000 after buying an additional 89,812 shares during the period. Chilton Investment Co. LLC increased its position in shares of Fastenal by 53.8% during the second quarter. Chilton Investment Co. LLC now owns 40,096 shares of the company’s stock worth $1,307,000 after acquiring an additional 14,023 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Fastenal by 69.7% during the second quarter. Parallel Advisors LLC now owns 1,991 shares of the company’s stock worth $65,000 after acquiring an additional 818 shares in the last quarter. Finally, GWM Advisors LLC raised its holdings in shares of Fastenal by 19.1% during the second quarter. GWM Advisors LLC now owns 184,254 shares of the company’s stock worth $6,005,000 after acquiring an additional 29,525 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.
FAST has been the topic of several research reports. Robert W. Baird boosted their price objective on shares of Fastenal from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Zacks Investment Research cut Fastenal from a “hold” rating to a “sell” rating and set a $38.00 target price for the company. in a report on Monday, October 14th. Edward Jones downgraded Fastenal from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Stephens lowered Fastenal from an “overweight” rating to an “equal” rating and boosted their price target for the company from $36.00 to $37.00 in a report on Monday, October 14th. Finally, Jefferies Financial Group assumed coverage on Fastenal in a research report on Friday, November 22nd. They set a “buy” rating and a $377.00 price objective for the company. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Fastenal presently has a consensus rating of “Hold” and an average target price of $73.44.
FAST stock opened at $35.94 on Friday. Fastenal has a 52 week low of $24.60 and a 52 week high of $37.91. The company has a market capitalization of $20.61 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 1.83 and a beta of 1.24. The company’s 50-day simple moving average is $36.29 and its 200 day simple moving average is $33.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.06 and a current ratio of 4.51.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, October 11th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. Fastenal had a net margin of 14.77% and a return on equity of 32.03%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.38 billion. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 EPS. On average, analysts forecast that Fastenal will post 1.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 25th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.45%. Fastenal’s payout ratio is presently 66.67%.
In related news, insider William Joseph Drazkowski sold 16,666 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $36.77, for a total value of $612,808.82. Following the completion of the sale, the insider now directly owns 19,456 shares in the company, valued at $715,397.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Sheryl Ann Lisowski sold 5,615 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $33.50, for a total value of $188,102.50. Following the sale, the chief accounting officer now directly owns 10,382 shares in the company, valued at approximately $347,797. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,985 shares of company stock worth $7,167,824. Company insiders own 0.62% of the company’s stock.
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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