Nuveen Asset Management LLC acquired a new stake in Fastenal (NASDAQ:FAST) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,536 shares of the company’s stock, valued at approximately $357,000.
Several other hedge funds have also made changes to their positions in the company. Sei Investments Co. increased its position in shares of Fastenal by 2.6% during the 4th quarter. Sei Investments Co. now owns 73,536 shares of the company’s stock worth $4,021,000 after purchasing an additional 1,841 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Fastenal by 0.4% during the 4th quarter. Wells Fargo & Company MN now owns 1,561,529 shares of the company’s stock worth $85,400,000 after purchasing an additional 5,991 shares in the last quarter. First Allied Advisory Services Inc. increased its position in shares of Fastenal by 50.9% during the 4th quarter. First Allied Advisory Services Inc. now owns 8,864 shares of the company’s stock worth $489,000 after purchasing an additional 2,991 shares in the last quarter. Arizona State Retirement System increased its position in shares of Fastenal by 3.1% during the 4th quarter. Arizona State Retirement System now owns 103,096 shares of the company’s stock worth $5,638,000 after purchasing an additional 3,094 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Fastenal by 6.3% during the 4th quarter. Schroder Investment Management Group now owns 139,766 shares of the company’s stock worth $7,644,000 after purchasing an additional 8,238 shares in the last quarter. Institutional investors own 85.49% of the company’s stock.
A number of brokerages recently issued reports on FAST. BidaskClub upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research report on Saturday, May 19th. KeyCorp reiterated a “buy” rating on shares of Fastenal in a research report on Friday, April 13th. Zacks Investment Research cut shares of Fastenal from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. Wells Fargo & Co set a $49.00 target price on shares of Fastenal and gave the stock a “hold” rating in a research report on Thursday, April 12th. Finally, Stephens reiterated a “buy” rating and set a $60.00 target price on shares of Fastenal in a research report on Wednesday, April 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $54.67.
Shares of NASDAQ:FAST opened at $50.59 on Friday. Fastenal has a 12 month low of $39.79 and a 12 month high of $58.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.30 and a current ratio of 5.11. The stock has a market cap of $14.64 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.45 and a beta of 1.01.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, April 11th. The company reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. Fastenal had a net margin of 13.66% and a return on equity of 28.69%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue was up 13.2% on a year-over-year basis. analysts expect that Fastenal will post 2.51 earnings per share for the current fiscal year.
In other Fastenal news, Director Stephen L. Eastman bought 700 shares of Fastenal stock in a transaction dated Friday, April 27th. The shares were bought at an average price of $50.31 per share, with a total value of $35,217.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James C. Jansen sold 29,758 shares of the firm’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $52.51, for a total transaction of $1,562,592.58. Following the completion of the transaction, the insider now directly owns 22,588 shares in the company, valued at approximately $1,186,095.88. The disclosure for this sale can be found here. In the last three months, insiders have acquired 4,155 shares of company stock worth $211,378. Insiders own 0.56% of the company’s stock.
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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