Creative Planning grew its stake in Fastenal (NASDAQ:FAST) by 20.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,335 shares of the company’s stock after buying an additional 2,222 shares during the quarter. Creative Planning’s holdings in Fastenal were worth $697,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its holdings in shares of Fastenal by 23.8% in the third quarter. Bank of Montreal Can now owns 494,532 shares of the company’s stock valued at $28,693,000 after buying an additional 95,225 shares during the period. Piedmont Investment Advisors Inc. boosted its holdings in shares of Fastenal by 626.9% in the third quarter. Piedmont Investment Advisors Inc. now owns 23,681 shares of the company’s stock valued at $1,374,000 after buying an additional 20,423 shares during the period. Palisade Asset Management LLC boosted its holdings in shares of Fastenal by 1.0% in the fourth quarter. Palisade Asset Management LLC now owns 30,038 shares of the company’s stock valued at $1,571,000 after buying an additional 300 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Fastenal by 18.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,049,956 shares of the company’s stock valued at $60,918,000 after buying an additional 164,235 shares during the period. Finally, DNB Asset Management AS boosted its holdings in shares of Fastenal by 14.9% in the fourth quarter. DNB Asset Management AS now owns 53,980 shares of the company’s stock valued at $2,823,000 after buying an additional 7,012 shares during the period. Institutional investors own 86.72% of the company’s stock.
FAST has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on shares of Fastenal in a report on Monday, January 7th. They issued a “hold” rating and a $60.00 price target for the company. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Wednesday, January 23rd. ValuEngine upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. BidaskClub upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a report on Saturday, November 17th. Finally, Morgan Stanley assumed coverage on shares of Fastenal in a report on Tuesday, December 18th. They set an “equal weight” rating and a $55.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Fastenal presently has a consensus rating of “Hold” and a consensus price target of $56.92.
Fastenal (NASDAQ:FAST) last announced its earnings results on Thursday, January 17th. The company reported $0.60 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. Fastenal had a net margin of 15.14% and a return on equity of 33.48%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The firm’s revenue was up 13.1% on a year-over-year basis. As a group, equities research analysts predict that Fastenal will post 2.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 27th. Investors of record on Thursday, January 31st will be issued a dividend of $0.43 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, January 30th. This represents a $1.72 annualized dividend and a yield of 2.73%. Fastenal’s dividend payout ratio is presently 65.40%.
In other Fastenal news, insider Nicholas J. Lundquist sold 5,000 shares of the stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $60.51, for a total value of $302,550.00. Following the completion of the sale, the insider now owns 216,000 shares in the company, valued at $13,070,160. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael John Dolan sold 2,500 shares of the stock in a transaction 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 sale, the director now owns 12,500 shares of the company’s stock, valued at approximately $750,000. The disclosure for this sale can be found here. Insiders have sold 12,500 shares of company stock valued at $752,550 in the last 90 days. 0.56% of the stock is currently owned by corporate insiders.
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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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