Gyroscope Capital Management Group LLC bought a new position in shares of Fastenal (NASDAQ:FAST) during the third quarter, according to its most recent filing with the SEC. The fund bought 7,973 shares of the company’s stock, valued at approximately $363,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in FAST. IFM Investors Pty Ltd bought a new stake in Fastenal in the 3rd quarter valued at about $441,000. Stonebridge Capital Advisors LLC bought a new stake in Fastenal in the 3rd quarter valued at about $201,000. Bares Capital Management Inc. raised its stake in Fastenal by 2.0% in the 3rd quarter. Bares Capital Management Inc. now owns 3,662,915 shares of the company’s stock valued at $166,956,000 after acquiring an additional 70,166 shares during the period. DF Dent & Co. Inc. raised its stake in Fastenal by 35.5% in the 3rd quarter. DF Dent & Co. Inc. now owns 1,963,207 shares of the company’s stock valued at $89,483,000 after acquiring an additional 513,836 shares during the period. Finally, Neuberger Berman Group LLC bought a new stake in Fastenal in the 3rd quarter valued at about $56,907,000. Institutional investors own 84.67% of the company’s stock.
Fastenal (FAST) opened at $53.11 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.45 and a current ratio of 5.36. The company has a market capitalization of $15,467.35, a P/E ratio of 28.63, a P/E/G ratio of 1.99 and a beta of 1.08. Fastenal has a twelve month low of $39.79 and a twelve month high of $55.35.
Fastenal (NASDAQ:FAST) last announced its earnings results on Wednesday, October 11th. The company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. research analysts expect that Fastenal will post 1.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th were issued a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, October 24th. This represents a $1.28 dividend on an annualized basis and a yield of 2.41%. Fastenal’s dividend payout ratio (DPR) is 68.09%.
In other news, insider Terry Modock Owen sold 30,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $48.02, for a total value of $1,440,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Leland J. Hein sold 10,000 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $51.00, for a total value of $510,000.00. Following the completion of the sale, the insider now directly owns 22,588 shares in the company, valued at $1,151,988. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,112 shares of company stock worth $3,879,832. Insiders own 0.55% of the company’s stock.
FAST has been the topic of a number of research reports. BMO Capital Markets restated a “hold” rating and issued a $46.00 price objective on shares of Fastenal in a research note on Monday, August 21st. Stifel Nicolaus reissued a “hold” rating and set a $46.00 price objective on shares of Fastenal in a report on Tuesday, August 22nd. BidaskClub lowered Fastenal from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Morgan Stanley reissued an “equal weight” rating and set a $46.00 price objective (up previously from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Finally, Stephens set a $54.00 price objective on Fastenal and gave the stock a “buy” rating in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $51.13.
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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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