Reik & CO. LLC raised its stake in Fastenal (NASDAQ:FAST) by 17.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,190 shares of the company’s stock after acquiring an additional 1,200 shares during the quarter. Reik & CO. LLC’s holdings in Fastenal were worth $448,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in Fastenal by 8.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 16,219,944 shares of the company’s stock valued at $739,306,000 after purchasing an additional 1,297,185 shares during the period. Bares Capital Management Inc. grew its position in shares of Fastenal by 2.0% during the 3rd quarter. Bares Capital Management Inc. now owns 3,662,915 shares of the company’s stock worth $166,956,000 after buying an additional 70,166 shares during the period. Janus Henderson Group PLC grew its position in shares of Fastenal by 58.5% during the 3rd quarter. Janus Henderson Group PLC now owns 2,889,428 shares of the company’s stock worth $131,700,000 after buying an additional 1,066,773 shares during the period. Mcdonald Capital Investors Inc. CA lifted its holdings in shares of Fastenal by 4.7% in the 3rd quarter. Mcdonald Capital Investors Inc. CA now owns 2,285,396 shares of the company’s stock worth $104,168,000 after purchasing an additional 103,147 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Fastenal by 60.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,076,097 shares of the company’s stock worth $90,372,000 after purchasing an additional 781,071 shares in the last quarter. 84.23% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on FAST shares. Credit Suisse Group reiterated an “outperform” rating and issued a $61.00 target price (up from $52.00) on shares of Fastenal in a report on Tuesday, January 9th. Zacks Investment Research cut Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Stephens lifted their target price on Fastenal from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Stifel Nicolaus reissued a “hold” rating and issued a $51.00 price objective on shares of Fastenal in a report on Monday, December 11th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Fastenal in a report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $53.29.
Fastenal (NASDAQ:FAST) last posted its earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Fastenal had a return on equity of 27.39% and a net margin of 13.18%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 earnings per share. equities analysts forecast that Fastenal will post 2.5 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Wednesday, January 31st will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.71%. 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 presently 73.63%.
In other news, insider Charles S. Miller sold 26,250 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $56.50, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Leland J. Hein sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $51.00, for a total value of $510,000.00. Following the transaction, 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. Over the last ninety days, insiders sold 48,884 shares of company stock worth $2,618,912. 0.55% of the stock is owned by insiders.
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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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