Fastenal (FAST) Stake Boosted by Saturna Capital CORP
Saturna Capital CORP raised its holdings in shares of Fastenal (NASDAQ:FAST) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 604,114 shares of the company’s stock after purchasing an additional 2,154 shares during the period. Saturna Capital CORP owned 0.21% of Fastenal worth $27,536,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Nuance Investments LLC acquired a new position in shares of Fastenal in the 2nd quarter valued at $3,048,000. Sawtooth Solutions LLC increased its position in shares of Fastenal by 15.4% in the 2nd quarter. Sawtooth Solutions LLC now owns 24,473 shares of the company’s stock valued at $1,065,000 after acquiring an additional 3,275 shares during the period. Seven Eight Capital LP increased its position in shares of Fastenal by 67.2% in the 2nd quarter. Seven Eight Capital LP now owns 9,700 shares of the company’s stock valued at $422,000 after acquiring an additional 3,900 shares during the period. Girard Partners LTD. increased its position in shares of Fastenal by 14.5% in the 2nd quarter. Girard Partners LTD. now owns 11,674 shares of the company’s stock valued at $508,000 after acquiring an additional 1,477 shares during the period. Finally, Korea Investment CORP increased its position in shares of Fastenal by 62.5% in the 3rd quarter. Korea Investment CORP now owns 76,983 shares of the company’s stock valued at $3,509,000 after acquiring an additional 29,600 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fastenal (NASDAQ:FAST) opened at $53.89 on Wednesday. Fastenal has a 1-year low of $39.79 and a 1-year 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 company has a market cap of $15,770.00, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 1.93 and a beta of 1.08.
Fastenal (NASDAQ:FAST) last posted its earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the company posted $0.44 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. equities research analysts anticipate that Fastenal will post 1.93 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, October 25th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Tuesday, October 24th. Fastenal’s payout ratio is currently 68.09%.
In other news, insider Leland J. Hein sold 10,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $51.00, for a total transaction of $510,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Terry Modock Owen sold 30,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $48.02, for a total transaction of $1,440,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,112 shares of company stock worth $3,879,832. Corporate insiders own 0.55% of the company’s stock.
FAST has been the topic of several recent research reports. BidaskClub lowered shares of Fastenal from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. BMO Capital Markets reaffirmed a “hold” rating and issued a $46.00 price target on shares of Fastenal in a report on Monday, August 21st. Stephens set a $54.00 price target on shares of Fastenal and gave the company a “buy” rating in a report on Wednesday, October 11th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $46.00 price target (up from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $46.00 price target on shares of Fastenal in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Fastenal presently has an average rating of “Buy” and an average price target of $50.80.
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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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