Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Fastenal (NASDAQ:FAST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 744 shares of the company’s stock, valued at approximately $39,000.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Financial Gravity Companies Inc. purchased a new stake in Fastenal during the fourth quarter worth about $290,000. BB&T Securities LLC boosted its holdings in Fastenal by 72.1% during the fourth quarter. BB&T Securities LLC now owns 45,718 shares of the company’s stock worth $2,390,000 after buying an additional 19,160 shares in the last quarter. Securian Asset Management Inc boosted its holdings in Fastenal by 1.8% during the fourth quarter. Securian Asset Management Inc now owns 29,635 shares of the company’s stock worth $1,550,000 after buying an additional 533 shares in the last quarter. Hardy Reed LLC purchased a new stake in Fastenal during the fourth quarter worth about $277,000. Finally, Balasa Dinverno & Foltz LLC purchased a new stake in Fastenal during the fourth quarter worth about $247,000. 86.72% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Michael John Dolan sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 29th. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the completion of the transaction, the director now owns 12,500 shares of the company’s stock, valued at $750,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas J. Lundquist sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $60.51, for a total transaction of $302,550.00. Following the transaction, the insider now directly owns 216,000 shares of the company’s stock, valued at approximately $13,070,160. The disclosure for this sale can be found here. Insiders have sold 12,500 shares of company stock worth $752,550 in the last three months. Insiders own 0.56% of the company’s stock.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, January 17th. The company reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. Fastenal had a net margin of 15.14% and a return on equity of 33.48%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 earnings per share. On average, equities analysts predict that Fastenal will post 2.83 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 27th. Investors of record on Thursday, January 31st will be paid a dividend of $0.43 per share. This is an increase from Fastenal’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, January 30th. This represents a $1.72 annualized dividend and a dividend yield of 2.83%. Fastenal’s dividend payout ratio is presently 65.40%.
Several brokerages have issued reports on FAST. Zacks Investment Research raised shares of Fastenal from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. ValuEngine raised shares of Fastenal from a “hold” rating to a “buy” rating in a report on Thursday, January 17th. BidaskClub raised shares of Fastenal from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Longbow Research downgraded shares of Fastenal from a “buy” rating to a “neutral” rating in a report on Tuesday, December 4th. Finally, Morgan Stanley began coverage on shares of Fastenal in a report on Tuesday, December 18th. They issued an “equal weight” rating and a $55.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $56.92.
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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