RiverPark Advisors LLC lessened its holdings in shares of Fastenal (NASDAQ:FAST) by 30.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 525,000 shares of the company’s stock after selling 231,500 shares during the period. Fastenal makes up about 4.1% of RiverPark Advisors LLC’s portfolio, making the stock its 9th biggest holding. RiverPark Advisors LLC owned about 0.18% of Fastenal worth $28,712,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Wolverine Asset Management LLC purchased a new position in Fastenal in the 4th quarter worth $104,000. Exane Derivatives purchased a new position in Fastenal in the 4th quarter worth $110,000. Fuller & Thaler Asset Management Inc. purchased a new position in Fastenal in the 3rd quarter worth $114,000. SeaCrest Wealth Management LLC purchased a new position in Fastenal in the 4th quarter worth $115,000. Finally, Dearborn Partners LLC purchased a new position in Fastenal in the 3rd quarter worth $200,000. Institutional investors own 85.00% of the company’s stock.
Shares of Fastenal (NASDAQ FAST) opened at $57.97 on Monday. Fastenal has a 12-month low of $39.79 and a 12-month high of $58.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.40 and a current ratio of 5.51. The company has a market capitalization of $16,674.93, a PE ratio of 30.04, a PEG ratio of 1.66 and a beta of 0.99.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Wednesday, January 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.55%. This is a boost from Fastenal’s previous quarterly dividend of $0.32. The ex-dividend date was Tuesday, January 30th. Fastenal’s payout ratio is presently 73.63%.
In related news, insider Charles S. Miller sold 26,250 shares of Fastenal stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $56.50, for a total value of $1,483,125.00. Following the sale, the insider now directly owns 26,250 shares in the company, valued at approximately $1,483,125. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gary A. Polipnick sold 2,634 shares of Fastenal stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $53.45, for a total value of $140,787.30. Following the completion of the sale, the insider now owns 59,323 shares in the company, valued at $3,170,814.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,384 shares of company stock worth $2,048,712. 0.56% of the stock is currently owned by insiders.
A number of brokerages recently issued reports on FAST. Robert W. Baird restated a “buy” rating and issued a $57.00 target price on shares of Fastenal in a research note on Tuesday, March 6th. Zacks Investment Research lowered Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Credit Suisse Group reiterated an “outperform” rating and set a $61.00 price objective (up previously from $52.00) on shares of Fastenal in a research note on Tuesday, January 9th. BMO Capital Markets reiterated a “hold” rating and set a $57.00 price objective on shares of Fastenal in a research note on Tuesday, January 9th. Finally, Northcoast Research set a $60.00 price objective on Fastenal and gave the company a “buy” rating in a research note on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $54.00.
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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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