Well Done LLC bought a new position in Fastenal Company (NASDAQ:FAST) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 25,517 shares of the company’s stock, valued at approximately $1,163,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. increased its position in shares of Fastenal by 4.1% during the first quarter. JPMorgan Chase & Co. now owns 64,504 shares of the company’s stock valued at $3,323,000 after acquiring an additional 2,538 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Fastenal by 2.8% during the 1st quarter. Teachers Advisors LLC now owns 559,285 shares of the company’s stock worth $28,803,000 after acquiring an additional 15,362 shares during the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of Fastenal by 5.3% during the 1st quarter. Thrivent Financial For Lutherans now owns 11,020 shares of the company’s stock worth $566,000 after acquiring an additional 550 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Fastenal by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 914,019 shares of the company’s stock worth $47,070,000 after acquiring an additional 52,498 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Fastenal during the 1st quarter valued at $17,394,000. Institutional investors and hedge funds own 83.95% of the company’s stock.
A number of analysts have issued reports on the stock. BidaskClub downgraded shares of Fastenal from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Thursday, August 3rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $46.00 price objective (up from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Stifel Nicolaus reiterated a “hold” rating and set a $46.00 price target on shares of Fastenal in a research report on Tuesday, August 22nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $46.00 target price on shares of Fastenal in a report on Monday, August 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $50.80.
Fastenal Company (NASDAQ FAST) traded down $0.36 during trading hours on Tuesday, reaching $47.23. The company had a trading volume of 1,741,300 shares, compared to its average volume of 2,843,943. The company has a current ratio of 5.36, a quick ratio of 2.45 and a debt-to-equity ratio of 0.21. Fastenal Company has a 1 year low of $39.79 and a 1 year high of $52.74. The firm has a market capitalization of $13,640.00, a price-to-earnings ratio of 25.31, a P/E/G ratio of 1.76 and a beta of 1.06.
Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.50. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the company posted $0.44 EPS. Fastenal’s revenue for the quarter was up 11.8% on a year-over-year basis. equities analysts anticipate that Fastenal Company will post 1.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, October 24th. This represents a $1.28 dividend on an annualized basis and a yield of 2.71%. Fastenal’s payout ratio is presently 68.09%.
In other Fastenal news, Director Stephen L. Eastman acquired 800 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average cost of $40.58 per share, for a total transaction of $32,464.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Leland J. Hein sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $48.74, for a total value of $487,400.00. Following the sale, the insider now owns 20,258 shares of the company’s stock, valued at $987,374.92. The disclosure for this sale can be found here. Insiders have sold a total of 30,112 shares of company stock valued at $1,444,232 over the last 90 days. Corporate insiders own 0.55% of the company’s stock.
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Fastenal Company Profile
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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