Allegis Investment Advisors LLC cut its holdings in shares of Fastenal (NASDAQ:FAST) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,799 shares of the company’s stock after selling 1,478 shares during the period. Allegis Investment Advisors LLC’s holdings in Fastenal were worth $1,247,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of FAST. Exane Derivatives bought a new stake in Fastenal in the 4th quarter worth about $110,000. Fuller & Thaler Asset Management Inc. bought a new stake in Fastenal in the 3rd quarter worth about $114,000. SeaCrest Wealth Management LLC bought a new stake in Fastenal in the 4th quarter worth about $115,000. Cable Hill Partners LLC bought a new stake in Fastenal in the 3rd quarter worth about $126,000. Finally, Krilogy Financial LLC grew its position in Fastenal by 2.0% in the 2nd quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock worth $154,000 after purchasing an additional 70 shares in the last quarter. 84.23% of the stock is owned by institutional investors.
Shares of Fastenal (NASDAQ FAST) opened at $53.57 on Wednesday. The stock has a market cap of $15,196.99, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 1.51 and a beta of 1.03. Fastenal has a 52 week low of $39.79 and a 52 week high of $57.81. The company has a quick ratio of 2.40, a current ratio of 5.51 and a debt-to-equity ratio of 0.20.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Wednesday, January 17th. The company reported $0.45 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.45. The firm 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 revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 EPS. equities analysts anticipate that Fastenal will post 2.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Wednesday, January 31st will be issued a $0.37 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, January 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.76%. Fastenal’s dividend payout ratio is presently 73.63%.
In other news, insider Terry Modock Owen sold 30,000 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total value of $1,440,600.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charles S. Miller sold 26,250 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the completion of the transaction, the insider now directly owns 26,250 shares in the company, valued at approximately $1,483,125. The disclosure for this sale can be found here. Insiders sold a total of 78,884 shares of company stock worth $4,059,512 in the last three months. Insiders own 0.55% of the company’s stock.
A number of equities research analysts have issued reports on the stock. BMO Capital Markets reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Fastenal in a research report on Tuesday, January 9th. Robert W. Baird reissued a “buy” rating on shares of Fastenal in a research report on Wednesday, January 17th. Credit Suisse Group restated an “outperform” rating and set a $61.00 price target (up from $52.00) on shares of Fastenal in a research note on Tuesday, January 9th. Zacks Investment Research cut shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $51.00 target price on shares of Fastenal in a research note on Monday, December 11th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Fastenal currently has an average rating of “Buy” and an average price target of $53.29.
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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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