Capital Investment Services of America Inc. grew its holdings in shares of Fastenal (NASDAQ:FAST) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 432,876 shares of the company’s stock after purchasing an additional 5,873 shares during the period. Fastenal makes up about 2.1% of Capital Investment Services of America Inc.’s holdings, making the stock its 26th biggest position. Capital Investment Services of America Inc. owned approximately 0.08% of Fastenal worth $14,142,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FAST. Vanguard Group Inc. increased its position in Fastenal by 103.6% during the 2nd quarter. Vanguard Group Inc. now owns 67,317,971 shares of the company’s stock worth $2,193,894,000 after purchasing an additional 34,249,134 shares during the period. BlackRock Inc. grew its holdings in shares of Fastenal by 114.3% in the 2nd quarter. BlackRock Inc. now owns 43,456,381 shares of the company’s stock worth $1,416,246,000 after acquiring an additional 23,182,045 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Fastenal by 92.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 31,430,053 shares of the company’s stock worth $1,024,304,000 after acquiring an additional 15,082,989 shares during the period. Invesco Ltd. grew its holdings in shares of Fastenal by 241.9% in the 2nd quarter. Invesco Ltd. now owns 13,737,816 shares of the company’s stock worth $447,715,000 after acquiring an additional 9,719,267 shares during the period. Finally, Bares Capital Management Inc. grew its holdings in shares of Fastenal by 94.5% in the 2nd quarter. Bares Capital Management Inc. now owns 8,677,098 shares of the company’s stock worth $282,787,000 after acquiring an additional 4,214,984 shares during the period. Institutional investors own 83.85% of the company’s stock.
In related news, Director Michael J. Ancius bought 1,000 shares of Fastenal stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $28.99 per share, with a total value of $28,990.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Sheryl Ann Lisowski sold 5,615 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $33.50, for a total value of $188,102.50. Following the completion of the sale, the chief accounting officer now directly owns 10,382 shares in the company, valued at approximately $347,797. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 4,604 shares of company stock worth $138,479. 0.56% of the stock is owned by corporate insiders.
Shares of FAST traded up $5.32 on Friday, reaching $36.34. The stock had a trading volume of 28,824,723 shares, compared to its average volume of 4,708,688. The firm has a market capitalization of $17.55 billion, a PE ratio of 27.53, a PEG ratio of 1.43 and a beta of 1.24. The company has a quick ratio of 2.13, a current ratio of 4.68 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average of $31.49 and a 200 day moving average of $42.02. Fastenal has a twelve month low of $24.00 and a twelve month high of $36.58.
Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, October 11th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Fastenal had a return on equity of 32.27% and a net margin of 14.74%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the company earned $0.34 EPS. Fastenal’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts anticipate that Fastenal will post 1.37 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on FAST shares. ValuEngine cut Fastenal from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. BidaskClub upgraded Fastenal from a “hold” rating to a “buy” rating in a report on Saturday, October 5th. Zacks Investment Research upgraded Fastenal from a “sell” rating to a “hold” rating and set a $34.00 price target on the stock in a report on Tuesday, September 10th. Raymond James lowered their price target on Fastenal from $39.00 to $37.00 and set a “strong-buy” rating on the stock in a report on Friday, July 12th. Finally, Wells Fargo & Co lowered their price target on Fastenal from $35.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $31.64.
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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