1 week Ago By ABMN Staff
National Bank of Canada FI cut its holdings in shares of Fastenal ( NASDAQ:FAST – Free Report ) by 23.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 243,792 shares of the company’s stock after selling 75,502 shares during the period.
National Bank of Canada FI’s holdings in Fastenal were worth $15,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Several other hedge funds also recently added to or reduced their stakes in FAST. Baird Financial Group Inc.
boosted its stake in shares of Fastenal by 15.2% in the fourth quarter. Baird Financial Group Inc.
now owns 7,928,209 shares of the company’s stock worth $513,510,000 after buying an additional 1,043,529 shares during the last quarter. Norges Bank purchased a new stake in Fastenal in the 4th quarter worth approximately $405,513,000. Envestnet Asset Management Inc.
grew its stake in shares of Fastenal by 2.3% during the 4th quarter. Envestnet Asset Management Inc.
now owns 4,800,534 shares of the company’s stock worth $310,931,000 after purchasing an additional 109,028 shares during the period. TD Asset Management Inc increased its holdings in shares of Fastenal by 21.2% during the 1st quarter.
TD Asset Management Inc now owns 3,248,853 shares of the company’s stock valued at $250,617,000 after purchasing an additional 569,118 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Fastenal by 46.2% in the 1st quarter.
Los Angeles Capital Management LLC now owns 3,185,855 shares of the company’s stock valued at $245,757,000 after purchasing an additional 1,006,402 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In Several analysts recently commented on the stock. Stephens restated an “equal weight” rating and set a $56.00 price target on shares of Fastenal in a research report on Monday, July 15th.
Stifel Nicolaus restated a “buy” rating and set a $80.00 target price (down from $85.00) on shares of Fastenal in a research report on Monday, July 15th.
Jefferies Financial Group reduced their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th.
Finally, Morgan Stanley initiated coverage on Fastenal in a report on Friday. They issued an “equal weight” rating and a $72.00 price objective on the stock.
Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Fastenal presently has a consensus rating of “Hold” and an average target price of $67.43.
Fastenal Trading Up 1.1 % Shares of FAST stock opened at $65.89 on Friday.
Fastenal has a fifty-two week low of $53.83 and a fifty-two week high of $79.04.
The firm has a market capitalization of $37.73 billion, a P/E ratio of 32.78, a PEG ratio of 3.
72 and a beta of 1.01. The stock’s fifty day moving average is $66.
71 and its two-hundred day moving average is $68.66. The company has a debt-to-equity ratio of 0.
04, a quick ratio of 2.29 and a current ratio of 4.39.
Fastenal ( NASDAQ:FAST – Get Free Report ) last posted its quarterly earnings results on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.
51. Fastenal had a net margin of 15.54% and a return on equity of 33.
54%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.
91 billion. During the same period in the previous year, the business posted $0.52 earnings per share.
Fastenal’s quarterly revenue was up 1.8% on a year-over-year basis. Research analysts expect that Fastenal will post 2.
04 earnings per share for the current fiscal year. Fastenal Dividend Announcement The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were paid a dividend of $0.
39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.
37%. The ex-dividend date was Friday, July 26th. Fastenal’s dividend payout ratio (DPR) is currently 77.
61%. Insider Buying and Selling at Fastenal In other news, Director Hsenghung Sam Hsu purchased 500 shares of the stock in a transaction dated Monday, June 10th. The shares were purchased at an average price of $63.
28 per share, with a total value of $31,640.00. Following the transaction, the director now owns 3,500 shares in the company, valued at approximately $221,480.
The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink . In other news, Director Hsenghung Sam Hsu bought 500 shares of Fastenal stock in a transaction on Monday, June 10th. The shares were bought at an average cost of $63.
28 per share, with a total value of $31,640.00. Following the completion of the purchase, the director now directly owns 3,500 shares of the company’s stock, valued at $221,480.
The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website . Also, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction that occurred on Wednesday, August 21st.
The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16.
Following the completion of the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,489,266.52. The disclosure for this sale can be found here .
0.41% of the stock is owned by company insiders. Fastenal Company Profile ( Free Report ) Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally.
It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines. Recommended Stories Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Fastenal ( NASDAQ:FAST – Free Report ). Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter .
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