Fastenal (NASDAQ:FAST) Shares Bought by IFM Investors Pty Ltd
IFM Investors Pty Ltd boosted its holdings in shares of Fastenal (NASDAQ:FAST) by 12.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,754 shares of the company’s stock after buying an additional 5,124 shares during the quarter. IFM Investors Pty Ltd’s holdings in Fastenal were worth $2,153,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in FAST. BlackRock Inc. boosted its holdings in shares of Fastenal by 1.4% in the second quarter. BlackRock Inc. now owns 45,737,441 shares of the company’s stock valued at $1,959,395,000 after acquiring an additional 620,997 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Fastenal by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 31,298,052 shares of the company’s stock worth $1,340,810,000 after buying an additional 358,433 shares during the period. London Co. of Virginia grew its stake in Fastenal by 2.3% during the second quarter. London Co. of Virginia now owns 6,744,825 shares of the company’s stock worth $288,948,000 after buying an additional 151,770 shares during the period. Cantillon Capital Management LLC grew its stake in Fastenal by 0.9% during the second quarter. Cantillon Capital Management LLC now owns 6,221,215 shares of the company’s stock worth $266,517,000 after buying an additional 55,570 shares during the period. Finally, Baird Financial Group Inc. grew its stake in Fastenal by 3.2% during the second quarter. Baird Financial Group Inc. now owns 5,837,677 shares of the company’s stock worth $233,306,000 after buying an additional 182,537 shares during the period. Institutional investors own 77.18% of the company’s stock.
Several equities research analysts have issued reports on FAST shares. Zacks Investment Research downgraded shares of Fastenal from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Tuesday, August 4th. UBS Group started coverage on shares of Fastenal in a research note on Tuesday, September 15th. They issued a “neutral” rating and a $44.00 target price for the company. Raymond James downgraded shares of Fastenal from a “market perform” rating to an “underperform” rating in a research note on Friday, September 4th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Fastenal from $54.00 to $52.00 in a research note on Wednesday. Finally, Jefferies Financial Group restated a “hold” rating and issued a $46.00 target price on shares of Fastenal in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $44.36.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Sunday, October 18th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. Fastenal had a net margin of 15.07% and a return on equity of 31.19%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the firm earned $0.37 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, research analysts expect that Fastenal will post 1.46 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, October 26th. This represents a $1.00 annualized dividend and a yield of 2.21%. Fastenal’s dividend payout ratio (DPR) is presently 72.46%.
In other Fastenal news, VP Leland J. Hein sold 9,100 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $44.37, for a total transaction of $403,767.00. Following the transaction, the vice president now owns 19,032 shares in the company, valued at $844,449.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James C. Jansen sold 15,000 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $45.55, for a total transaction of $683,250.00. Following the completion of the sale, the executive vice president now owns 40,176 shares in the company, valued at approximately $1,830,016.80. The disclosure for this sale can be found here. In the last quarter, 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, 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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