Alliancebernstein L.P. lessened its holdings in shares of Fastenal (NASDAQ:FAST) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 649,817 shares of the company’s stock after selling 1,405 shares during the quarter. Alliancebernstein L.P. owned approximately 0.23% of Fastenal worth $35,538,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Exane Derivatives acquired a new stake in Fastenal during the 4th quarter worth $110,000. SeaCrest Wealth Management LLC acquired a new stake in Fastenal during the 4th quarter worth $115,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Fastenal during the 3rd quarter worth $114,000. Squar Milner Financial Services LLC acquired a new stake in Fastenal during the 4th quarter worth $202,000. Finally, AlphaStar Capital Management LLC acquired a new stake in Fastenal during the 4th quarter worth $201,000. 85.00% of the stock is currently owned by institutional investors.
In other Fastenal news, insider William Joseph Drazkowski sold 7,500 shares of the company’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $56.64, for a total value of $424,800.00. Following the transaction, the insider now owns 9,460 shares of the company’s stock, valued at $535,814.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charles S. Miller sold 26,250 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the completion of the transaction, the insider now directly owns 26,250 shares in the company, valued at approximately $1,483,125. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share for the quarter, meeting the 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 net margin of 13.18% and a return on equity of 27.39%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. analysts expect that Fastenal will post 2.51 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Wednesday, January 31st were given a $0.37 dividend. The ex-dividend date was Tuesday, January 30th. This represents a $1.48 dividend on an annualized basis and a yield of 2.54%. This is a boost from Fastenal’s previous quarterly dividend of $0.32. Fastenal’s dividend payout ratio is presently 73.63%.
Several equities research analysts have issued reports on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $57.00 target price on shares of Fastenal in a research note on Tuesday, March 6th. Zacks Investment Research cut shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Credit Suisse Group reaffirmed an “outperform” rating and set a $61.00 target price (up previously from $52.00) on shares of Fastenal in a research note on Tuesday, January 9th. BMO Capital Markets reissued a “hold” rating and set a $57.00 price target on shares of Fastenal in a research report on Tuesday, January 9th. Finally, Northcoast Research set a $60.00 price target on shares of Fastenal and gave the company a “buy” rating in a research report on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $54.00.
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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