Honkamp Krueger Financial Services Inc. cut its position in Fastenal (NASDAQ:FAST) by 10.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,273 shares of the company’s stock after selling 1,011 shares during the quarter. Honkamp Krueger Financial Services Inc.’s holdings in Fastenal were worth $452,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Exane Derivatives acquired a new stake in Fastenal in the fourth quarter valued at $110,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Fastenal in the third quarter valued at $114,000. SeaCrest Wealth Management LLC acquired a new stake in Fastenal in the fourth quarter valued at $115,000. Cable Hill Partners LLC acquired a new stake in Fastenal in the third quarter valued at $126,000. Finally, QS Investors LLC raised its holdings in 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 acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds own 85.08% of the company’s stock.
Shares of Fastenal (FAST) opened at $54.75 on Tuesday. The firm has a market cap of $15,746.31, a price-to-earnings ratio of 28.37, a price-to-earnings-growth ratio of 1.56 and a beta of 1.03. Fastenal has a twelve month low of $39.79 and a twelve month high of $57.81. The company has a current ratio of 5.51, a quick ratio of 2.40 and a debt-to-equity ratio of 0.20.
Fastenal (NASDAQ:FAST) last issued its earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.45. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 earnings per share. sell-side analysts anticipate that Fastenal will post 2.5 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Wednesday, January 31st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from Fastenal’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, January 30th. Fastenal’s dividend payout ratio is 73.63%.
In other Fastenal news, insider Charles S. Miller sold 26,250 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the sale, the insider now directly owns 26,250 shares of the company’s stock, valued at $1,483,125. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $510,000.00. Following 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. Insiders have sold 38,884 shares of company stock worth $2,133,912 over the last three months. 0.55% of the stock is owned by corporate insiders.
Several research firms recently issued reports on FAST. BMO Capital Markets reaffirmed a “hold” rating and issued a $57.00 price target on shares of Fastenal in a report on Tuesday, January 9th. Robert W. Baird reaffirmed a “buy” rating on shares of Fastenal in a report on Wednesday, January 17th. Zacks Investment Research cut shares of Fastenal from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $61.00 price target (up from $52.00) on shares of Fastenal in a report on Tuesday, January 9th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $51.00 price target on shares of Fastenal in a report on Monday, December 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Fastenal presently has a consensus 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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