Duncker Streett & Co. Inc. increased its holdings in shares of Fastenal Company (NASDAQ:FAST) by 45.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,703 shares of the company’s stock after acquiring an additional 6,453 shares during the quarter. Duncker Streett & Co. Inc.’s holdings in Fastenal were worth $944,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Enterprise Financial Services Corp raised its stake in shares of Fastenal by 0.5% in the second quarter. Enterprise Financial Services Corp now owns 6,074 shares of the company’s stock valued at $264,000 after buying an additional 28 shares during the period. Curbstone Financial Management Corp raised its stake in shares of Fastenal by 1.1% in the second quarter. Curbstone Financial Management Corp now owns 5,653 shares of the company’s stock valued at $246,000 after buying an additional 60 shares during the period. QS Investors LLC raised its stake in shares of Fastenal by 1.6% in the second quarter. QS Investors LLC now owns 4,051 shares of the company’s stock valued at $176,000 after buying an additional 63 shares during the period. Krilogy Financial LLC raised its stake in shares of Fastenal by 2.0% in the second quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock valued at $154,000 after buying an additional 70 shares during the period. Finally, Ironwood Investment Management LLC raised its stake in shares of Fastenal by 1.2% in the first quarter. Ironwood Investment Management LLC now owns 6,359 shares of the company’s stock valued at $327,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.
Several analysts have issued reports on FAST shares. KeyCorp restated a “buy” rating and issued a $52.00 target price on shares of Fastenal in a research note on Thursday, October 12th. Stephens set a $54.00 target price on Fastenal and gave the company a “buy” rating in a research note on Wednesday, October 11th. Northcoast Research reiterated a “buy” rating on shares of Fastenal in a research report on Friday, August 4th. Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Thursday, August 3rd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $46.00 price target (up from $44.00) on shares of Fastenal in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $50.80.
In other news, Director Michael John Dolan sold 8,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $43.01, for a total value of $344,080.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Leland J. Hein sold 10,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $48.00, for a total value of $480,000.00. Following the completion of the sale, the vice president now directly owns 20,258 shares of the company’s stock, valued at approximately $972,384. The disclosure for this sale can be found here. In the last three months, insiders sold 38,000 shares of company stock valued at $1,782,880. 0.55% of the stock is currently owned by corporate insiders.
Fastenal Company (FAST) opened at $47.59 on Friday. Fastenal Company has a fifty-two week low of $39.79 and a fifty-two week high of $52.74. The company has a quick ratio of 2.45, a current ratio of 5.36 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $13,662.54, a PE ratio of 25.29, a PEG ratio of 1.76 and a beta of 1.06.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the business earned $0.44 EPS. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. research analysts anticipate that Fastenal Company will post 1.93 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, October 25th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Tuesday, October 24th. Fastenal’s dividend payout ratio (DPR) is presently 68.09%.
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Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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