Northwestern Mutual Wealth Management Co. increased its stake in shares of Fastenal (NASDAQ:FAST) by 31.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 30,125 shares of the company’s stock after acquiring an additional 7,232 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Fastenal were worth $1,744,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc boosted its stake in Fastenal by 4.5% during the 2nd quarter. CIBC Asset Management Inc now owns 39,775 shares of the company’s stock valued at $1,914,000 after purchasing an additional 1,708 shares during the period. Global X Management Co LLC boosted its stake in Fastenal by 16.4% during the 2nd quarter. Global X Management Co LLC now owns 69,024 shares of the company’s stock valued at $3,322,000 after purchasing an additional 9,734 shares during the period. Marshall Wace LLP bought a new stake in Fastenal during the 2nd quarter valued at approximately $1,322,000. Achmea Investment Management B.V. boosted its stake in Fastenal by 28.7% during the 2nd quarter. Achmea Investment Management B.V. now owns 66,651 shares of the company’s stock valued at $3,204,000 after purchasing an additional 14,857 shares during the period. Finally, Oregon Public Employees Retirement Fund bought a new stake in Fastenal during the 2nd quarter valued at approximately $3,546,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of FAST stock opened at $54.76 on Friday. The company has a quick ratio of 2.48, a current ratio of 5.35 and a debt-to-equity ratio of 0.17. Fastenal has a 12 month low of $46.91 and a 12 month high of $61.14. The company has a market capitalization of $15.70 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 1.51 and a beta of 1.01.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, October 10th. The company reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.02. Fastenal had a return on equity of 32.29% and a net margin of 15.25%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the company earned $0.50 EPS. The company’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities research analysts forecast that Fastenal will post 2.58 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, October 24th will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, October 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.92%. Fastenal’s dividend payout ratio is currently 82.90%.
Several analysts recently weighed in on the company. BidaskClub upgraded Fastenal from a “hold” rating to a “buy” rating in a research note on Tuesday, August 21st. Zacks Investment Research downgraded Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. ValuEngine upgraded Fastenal from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Northcoast Research restated a “buy” rating and set a $62.00 target price on shares of Fastenal in a research note on Friday, July 27th. Finally, Stifel Nicolaus increased their target price on Fastenal from $53.00 to $56.00 and gave the company a “hold” rating in a research note on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $56.40.
In other news, Director Daniel L. Johnson acquired 965 shares of Fastenal stock in a transaction on Monday, October 22nd. The stock was bought at an average price of $51.56 per share, for a total transaction of $49,755.40. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Holden Lewis acquired 500 shares of Fastenal stock in a transaction on Tuesday, October 16th. The stock was purchased at an average price of $52.28 per share, with a total value of $26,140.00. Following the transaction, the chief financial officer now directly owns 3,500 shares in the company, valued at approximately $182,980. The disclosure for this purchase can be found here. Insiders acquired a total of 5,795 shares of company stock valued at $299,849 in the last quarter. Corporate insiders own 0.56% 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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