Fastenal (NASDAQ:FAST) Shares Acquired by Nwam LLC
Nwam LLC lifted its holdings in shares of Fastenal (NASDAQ:FAST) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,190 shares of the company’s stock after acquiring an additional 642 shares during the period. Nwam LLC’s holdings in Fastenal were worth $3,300,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of FAST. Public Employees Retirement Association of Colorado raised its position in shares of Fastenal by 155.7% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 81,160 shares of the company’s stock worth $2,536,000 after acquiring an additional 49,423 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Fastenal during the first quarter worth approximately $381,000. Mackenzie Financial Corp increased its position in Fastenal by 36.6% during the first quarter. Mackenzie Financial Corp now owns 14,976 shares of the company’s stock worth $468,000 after buying an additional 4,011 shares during the period. Venturi Wealth Management LLC acquired a new position in Fastenal during the first quarter worth approximately $308,000. Finally, APG Asset Management N.V. increased its position in Fastenal by 97.0% during the first quarter. APG Asset Management N.V. now owns 1,016,239 shares of the company’s stock worth $31,757,000 after buying an additional 500,411 shares during the period. 77.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of FAST stock traded up $0.64 during midday trading on Friday, hitting $45.26. The company had a trading volume of 3,384,415 shares, compared to its average volume of 4,564,562. The company’s 50 day simple moving average is $45.63 and its 200 day simple moving average is $42.19. Fastenal has a 52-week low of $26.72 and a 52-week high of $49.86. The stock has a market cap of $25.96 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 3.63 and a beta of 1.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.13 and a quick ratio of 1.91.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. Fastenal’s dividend payout ratio (DPR) is presently 72.46%.
Several research firms have commented on FAST. Zacks Investment Research lowered Fastenal from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research report on Tuesday, August 4th. Jefferies Financial Group reaffirmed a “hold” rating and set a $46.00 price target on shares of Fastenal in a research report on Wednesday, July 15th. UBS Group began coverage on Fastenal in a research report on Tuesday, September 15th. They set a “neutral” rating and a $44.00 price target on the stock. Wells Fargo & Company lowered Fastenal from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a research report on Thursday, September 3rd. They noted that the move was a valuation call. Finally, BidaskClub lowered Fastenal from a “buy” rating to a “hold” rating in a research report on Thursday, September 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $44.36.
In other news, VP Terry Modock Owen sold 1,250 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $49.53, for a total value of $61,912.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Joseph Drazkowski sold 28,554 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $45.59, for a total transaction of $1,301,776.86. Following the completion of the transaction, the insider now owns 9,330 shares of the company’s stock, valued at approximately $425,354.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,724 shares of company stock worth $4,473,812. Corporate insiders own 0.57% of the company’s stock.
Fastenal Company Profile
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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