Meyer Handelman Co. purchased a new position in shares of Fastenal (NASDAQ:FAST) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 3,500 shares of the company’s stock, valued at approximately $203,000.
Other hedge funds have also recently bought and sold shares of the company. CIBC Asset Management Inc grew its stake in shares of Fastenal by 4.5% during the 2nd quarter. CIBC Asset Management Inc now owns 39,775 shares of the company’s stock worth $1,914,000 after acquiring an additional 1,708 shares during the period. Global X Management Co LLC grew its stake in shares of Fastenal by 16.4% during the 2nd quarter. Global X Management Co LLC now owns 69,024 shares of the company’s stock worth $3,322,000 after acquiring an additional 9,734 shares during the period. Marshall Wace LLP bought a new position in shares of Fastenal during the 2nd quarter worth $1,322,000. Achmea Investment Management B.V. grew its stake in shares of Fastenal by 28.7% during the 2nd quarter. Achmea Investment Management B.V. now owns 66,651 shares of the company’s stock worth $3,204,000 after acquiring an additional 14,857 shares during the period. Finally, Oregon Public Employees Retirement Fund bought a new position in shares of Fastenal during the 2nd quarter worth $3,546,000. Institutional investors own 86.30% of the company’s stock.
Several research analysts have recently weighed in on the company. BidaskClub upgraded Fastenal from a “hold” rating to a “buy” rating in a research note on Tuesday, August 21st. Zacks Investment Research downgraded Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. ValuEngine upgraded Fastenal from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Northcoast Research reiterated a “buy” rating and set a $62.00 price target on shares of Fastenal in a research note on Friday, July 27th. Finally, Stifel Nicolaus increased their price target on Fastenal from $53.00 to $56.00 and gave the stock a “hold” rating in a research note on Friday, July 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $56.40.
Shares of FAST opened at $54.76 on Friday. The stock has a market cap of $15.70 billion, a P/E ratio of 28.37, a P/E/G ratio of 1.51 and a beta of 1.01. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.48 and a current ratio of 5.35. Fastenal has a 52-week low of $46.91 and a 52-week high of $61.14.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, October 10th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Fastenal had a return on equity of 32.29% and a net margin of 15.25%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 EPS. As a group, research analysts expect that Fastenal will post 2.58 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, October 24th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, October 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.92%. Fastenal’s dividend payout ratio (DPR) is 82.90%.
In related news, CFO Holden Lewis acquired 500 shares of the company’s stock in a transaction that occurred on Tuesday, October 16th. The shares were acquired at an average price of $52.28 per share, with a total value of $26,140.00. Following the acquisition, the chief financial officer now owns 3,500 shares of the company’s stock, valued at approximately $182,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Joseph Drazkowski acquired 830 shares of the company’s stock in a transaction that occurred on Tuesday, October 23rd. The shares were bought at an average cost of $50.54 per share, for a total transaction of $41,948.20. Following the acquisition, the insider now directly owns 2,790 shares in the company, valued at approximately $141,006.60. The disclosure for this purchase can be found here. Insiders have purchased a total of 5,795 shares of company stock worth $299,849 in the last three months. 0.56% of the stock is currently owned by insiders.
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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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