Manning & Napier Group LLC increased its position in Fastenal (NASDAQ:FAST) by 9.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,001 shares of the company’s stock after purchasing an additional 7,490 shares during the quarter. Manning & Napier Group LLC’s holdings in Fastenal were worth $5,105,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its position in Fastenal by 63.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 90,974 shares of the company’s stock valued at $5,276,000 after acquiring an additional 35,369 shares in the last quarter. Covenant Asset Management LLC bought a new stake in Fastenal during the 3rd quarter valued at $380,000. Atria Investments LLC bought a new stake in Fastenal during the 3rd quarter valued at $222,000. First Financial Bank Trust Division boosted its position in Fastenal by 1.9% during the 3rd quarter. First Financial Bank Trust Division now owns 66,324 shares of the company’s stock valued at $3,848,000 after acquiring an additional 1,230 shares in the last quarter. Finally, Royal London Asset Management Ltd. bought a new stake in Fastenal during the 2nd quarter valued at $5,870,000. 85.85% of the stock is currently owned by institutional investors.
Shares of FAST opened at $52.07 on Friday. Fastenal has a 12 month low of $45.96 and a 12 month high of $61.14. The company has a quick ratio of 2.57, a current ratio of 5.62 and a debt-to-equity ratio of 0.19. The firm has a market cap of $16.65 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.62 and a beta of 0.92.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, October 10th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. Fastenal had a return on equity of 30.82% and a net margin of 14.57%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business posted $0.50 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. Analysts forecast that Fastenal will post 2.56 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, October 24th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, October 23rd. This represents a $1.60 annualized dividend and a dividend yield of 3.07%. Fastenal’s dividend payout ratio is presently 82.90%.
Several brokerages have issued reports on FAST. BidaskClub raised Fastenal from a “hold” rating to a “buy” rating in a research report on Tuesday, August 21st. Zacks Investment Research lowered Fastenal from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. ValuEngine upgraded Fastenal from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Northcoast Research reiterated a “buy” rating and set a $62.00 price objective on shares of Fastenal in a report on Friday, July 27th. Finally, Stifel Nicolaus increased their price objective on Fastenal from $53.00 to $56.00 and gave the company a “hold” rating in a report on Friday, July 13th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Fastenal presently has a consensus rating of “Hold” and a consensus target price of $57.11.
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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