FDO Partners LLC Invests $469,000 in Fastenal (FAST)
FDO Partners LLC purchased a new position in shares of Fastenal (NASDAQ:FAST) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,282 shares of the company’s stock, valued at approximately $469,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of FAST. Janus Henderson Group PLC grew its position in Fastenal by 357.0% during the 2nd quarter. Janus Henderson Group PLC now owns 1,822,655 shares of the company’s stock worth $79,340,000 after acquiring an additional 1,423,856 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in Fastenal during the 3rd quarter worth approximately $64,702,000. Bank of New York Mellon Corp grew 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 worth $739,306,000 after acquiring an additional 1,297,185 shares during the last quarter. Old Mutual Global Investors UK Ltd. grew its position in Fastenal by 580.8% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,496,666 shares of the company’s stock worth $68,218,000 after acquiring an additional 1,276,832 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Fastenal by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 31,573,149 shares of the company’s stock worth $1,374,380,000 after acquiring an additional 943,262 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.
FAST has been the topic of several recent research reports. KeyCorp restated a “buy” rating and set a $52.00 price target on shares of Fastenal in a research report on Thursday, October 12th. BidaskClub lowered Fastenal from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. BMO Capital Markets restated a “hold” rating and set a $46.00 price target on shares of Fastenal in a research report on Monday, August 21st. Morgan Stanley restated an “equal weight” rating and set a $46.00 price target (up from $44.00) on shares of Fastenal in a research report on Monday, October 2nd. Finally, Stifel Nicolaus restated a “hold” rating and set a $46.00 price target on shares of Fastenal in a research report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $50.80.
Shares of Fastenal (FAST) opened at $54.88 on Tuesday. Fastenal has a fifty-two week low of $39.79 and a fifty-two week high of $55.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.36 and a quick ratio of 2.45. The firm has a market capitalization of $14,996.03, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 1.93 and a beta of 1.08.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the business posted $0.44 EPS. The business’s revenue was up 11.8% on a year-over-year basis. sell-side analysts forecast that Fastenal will post 1.93 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Tuesday, October 24th. Fastenal’s dividend payout ratio (DPR) is currently 68.09%.
In other Fastenal news, insider Terry Modock Owen sold 30,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $48.02, for a total value of $1,440,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Leland J. Hein sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $48.74, for a total value of $487,400.00. Following the completion of the sale, the insider now owns 20,258 shares of the company’s stock, valued at approximately $987,374.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,112 shares of company stock valued at $3,879,832. Company insiders own 0.55% of the company’s stock.
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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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