LPL Financial LLC boosted its position in shares of Fastenal (NASDAQ:FAST) by 988.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,837 shares of the company’s stock after buying an additional 235,960 shares during the period. LPL Financial LLC owned 0.09% of Fastenal worth $14,211,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Fastenal during the 3rd quarter worth approximately $64,702,000. Neuberger Berman Group LLC acquired a new position in shares of Fastenal during the 3rd quarter worth approximately $56,907,000. Janus Henderson Group PLC boosted its holdings 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 purchasing an additional 1,066,773 shares during the last quarter. Elkfork Partners LLC acquired a new position in shares of Fastenal during the 4th quarter worth approximately $43,602,000. Finally, OppenheimerFunds Inc. boosted its holdings in shares of Fastenal by 18.8% during the 4th quarter. OppenheimerFunds Inc. now owns 4,876,680 shares of the company’s stock worth $266,706,000 after purchasing an additional 772,198 shares during the last quarter. Institutional investors own 84.92% of the company’s stock.
Several brokerages have recently weighed in on FAST. Goldman Sachs began coverage on Fastenal in a report on Sunday. They set a “sell” rating on the stock. Robert W. Baird reiterated a “buy” rating and issued a $57.00 price objective on shares of Fastenal in a report on Tuesday, March 6th. Northcoast Research set a $60.00 price objective on Fastenal and gave the company a “buy” rating in a report on Friday, March 2nd. BMO Capital Markets reiterated a “hold” rating and issued a $57.00 price objective on shares of Fastenal in a report on Tuesday, January 9th. Finally, Zacks Investment Research cut Fastenal from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $54.00.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Wednesday, January 17th. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates 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 firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. equities analysts anticipate that Fastenal will post 2.51 EPS for the current fiscal year.
The company 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. This is a positive change from Fastenal’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.48 dividend on an annualized basis and a yield of 2.54%. Fastenal’s payout ratio is presently 73.63%.
In other Fastenal news, insider William Joseph Drazkowski sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $56.64, for a total value of $424,800.00. Following the sale, the insider now owns 9,460 shares of the company’s stock, valued at $535,814.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charles S. Miller sold 26,250 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $56.50, for a total value of $1,483,125.00. Following the completion of the sale, 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. 0.56% of the stock is owned by insiders.
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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