IBM Retirement Fund purchased a new position in shares of Fastenal (NASDAQ:FAST) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,295 shares of the company’s stock, valued at approximately $235,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Exane Derivatives acquired a new stake in shares of Fastenal in the fourth quarter worth approximately $110,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Fastenal in the fourth quarter worth approximately $115,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Fastenal in the third quarter worth approximately $114,000. Cable Hill Partners LLC acquired a new stake in shares of Fastenal in the third quarter worth approximately $126,000. Finally, LaFleur & Godfrey LLC acquired a new stake in shares of Fastenal in the fourth quarter worth approximately $202,000. 84.23% of the stock is currently owned by institutional investors.
FAST has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Thursday, January 4th. Credit Suisse Group reaffirmed an “outperform” rating and set a $61.00 price target (up from $52.00) on shares of Fastenal in a research report on Tuesday, January 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $51.00 price target on shares of Fastenal in a research report on Monday, December 11th. BMO Capital Markets reaffirmed a “hold” rating and set a $57.00 price target on shares of Fastenal in a research report on Tuesday, January 9th. Finally, Stephens lifted their price target on shares of Fastenal from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Fastenal has an average rating of “Buy” and an average price target of $53.29.
In other news, insider Leland J. Hein sold 10,000 shares of Fastenal stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $51.00, for a total transaction of $510,000.00. Following the sale, the insider now owns 22,588 shares in the company, valued at $1,151,988. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Terry Modock Owen sold 30,000 shares of Fastenal stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total transaction of $1,440,600.00. The disclosure for this sale can be found here. Insiders have sold 78,884 shares of company stock worth $4,059,512 in the last quarter. Insiders own 0.55% of the company’s stock.
Shares of Fastenal (NASDAQ:FAST) opened at $52.84 on Tuesday. The stock has a market cap of $15,381.06, a P/E ratio of 27.71, a PEG ratio of 1.53 and a beta of 1.03. Fastenal has a 12 month low of $39.79 and a 12 month high of $57.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.40 and a current ratio of 5.51.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share. sell-side analysts forecast that Fastenal will post 2.5 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Wednesday, January 31st will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.80%. This is a positive change from Fastenal’s previous quarterly dividend of $0.32. Fastenal’s dividend payout ratio (DPR) is currently 73.63%.
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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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