Great West Life Assurance Co. Can reduced its holdings in Fastenal (NASDAQ:FAST) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 375,301 shares of the company’s stock after selling 36,825 shares during the period. Great West Life Assurance Co. Can owned about 0.13% of Fastenal worth $21,808,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in FAST. CIBC World Markets Inc. boosted its holdings in Fastenal by 5.6% during the second quarter. CIBC World Markets Inc. now owns 17,952 shares of the company’s stock worth $864,000 after buying an additional 960 shares in the last quarter. Diversified Investment Strategies LLC boosted its holdings in Fastenal by 1.3% during the third quarter. Diversified Investment Strategies LLC now owns 80,445 shares of the company’s stock worth $4,667,000 after buying an additional 1,035 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Fastenal by 2.4% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 43,640 shares of the company’s stock worth $2,100,000 after buying an additional 1,036 shares in the last quarter. Steginsky Capital LLC boosted its holdings in Fastenal by 0.5% during the second quarter. Steginsky Capital LLC now owns 231,482 shares of the company’s stock worth $11,141,000 after buying an additional 1,161 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Fastenal by 1.2% during the third quarter. Arizona State Retirement System now owns 101,466 shares of the company’s stock worth $5,887,000 after buying an additional 1,165 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on FAST shares. BidaskClub raised shares of Fastenal from a “hold” rating to a “buy” rating in a report on Tuesday, August 21st. Zacks Investment Research downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Wells Fargo & Co set a $50.00 price target on shares of Fastenal and gave the stock a “hold” rating in a report on Thursday, October 11th. ValuEngine downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. Finally, Buckingham Research started coverage on shares of Fastenal in a report on Monday, October 22nd. They set a “neutral” rating and a $50.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $56.40.
FAST opened at $59.26 on Monday. The company has a current ratio of 5.35, a quick ratio of 2.48 and a debt-to-equity ratio of 0.17. The firm has a market cap of $17.01 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of 1.63 and a beta of 1.07. Fastenal has a 52-week low of $47.37 and a 52-week high of $61.14.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, October 10th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.29%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. On average, research analysts anticipate that Fastenal will post 2.59 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, October 24th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.70%. The ex-dividend date was Tuesday, October 23rd. Fastenal’s payout ratio is 82.90%.
In other Fastenal news, CEO Daniel L. Florness bought 2,000 shares of Fastenal stock in a transaction dated Friday, October 12th. The stock was acquired at an average cost of $51.95 per share, for a total transaction of $103,900.00. Following the completion of the transaction, the chief executive officer now directly owns 99,845 shares of the company’s stock, valued at $5,186,947.75. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Terry Modock Owen bought 1,500 shares of Fastenal stock in a transaction dated Friday, October 12th. The stock was acquired at an average price of $52.07 per share, with a total value of $78,105.00. Following the completion of the transaction, the insider now directly owns 3,500 shares of the company’s stock, valued at $182,245. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 5,795 shares of company stock worth $299,849. Insiders own 0.56% of the company’s stock.
Fastenal Company Profile
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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