Gateway Investment Advisers LLC trimmed its position in shares of Fastenal (NASDAQ:FAST) by 5.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,488 shares of the company’s stock after selling 679 shares during the period. Gateway Investment Advisers LLC’s holdings in Fastenal were worth $803,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FAST. Oregon Public Employees Retirement Fund grew its position in Fastenal by 4,838.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,659,620 shares of the company’s stock worth $70,000 after purchasing an additional 3,585,509 shares in the last quarter. London Co. of Virginia purchased a new position in Fastenal during the 4th quarter worth approximately $168,189,000. Norges Bank purchased a new position in Fastenal during the 4th quarter worth approximately $135,756,000. Pendal Group Ltd purchased a new position in Fastenal during the 4th quarter worth approximately $54,984,000. Finally, Bank of New York Mellon Corp grew its position in Fastenal by 7.7% during the 4th quarter. Bank of New York Mellon Corp now owns 15,859,900 shares of the company’s stock worth $829,314,000 after purchasing an additional 1,134,666 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.
FAST has been the topic of several research analyst reports. Raymond James set a $78.00 price target on shares of Fastenal and gave the company a “buy” rating in a report on Friday, April 12th. Buckingham Research set a $65.00 price target on shares of Fastenal and gave the company a “hold” rating in a report on Friday, April 12th. Northcoast Research cut shares of Fastenal from a “buy” rating to a “neutral” rating in a report on Monday. They noted that the move was a valuation call. Morgan Stanley boosted their price target on shares of Fastenal from $55.00 to $63.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, BidaskClub upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $61.70.
FAST stock opened at $69.52 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.31 and a quick ratio of 1.97. Fastenal has a 1 year low of $47.37 and a 1 year high of $69.88. The firm has a market capitalization of $19.68 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 1.51 and a beta of 1.17.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. Fastenal had a net margin of 15.16% and a return on equity of 33.52%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the business earned $0.61 EPS. Equities analysts forecast that Fastenal will post 2.85 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, April 24th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Tuesday, April 23rd. Fastenal’s payout ratio is presently 65.40%.
In related news, EVP John Lewis Soderberg sold 7,500 shares of Fastenal stock in a transaction on Friday, February 15th. The shares were sold at an average price of $63.00, for a total value of $472,500.00. Following the completion of the sale, the executive vice president now owns 7,500 shares of the company’s stock, valued at approximately $472,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Leland J. Hein sold 39,583 shares of Fastenal stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $62.86, for a total transaction of $2,488,187.38. Following the completion of the sale, the insider now directly owns 22,611 shares of the company’s stock, valued at approximately $1,421,327.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,083 shares of company stock valued at $5,458,662. 0.62% of the stock is owned by company 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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