KBC Group NV boosted its stake in Fastenal (NASDAQ:FAST) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 155,500 shares of the company’s stock after acquiring an additional 1,972 shares during the period. KBC Group NV’s holdings in Fastenal were worth $7,819,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in FAST. Kingsview Wealth Management LLC bought a new stake in Fastenal in the third quarter worth about $369,000. Van ECK Associates Corp raised its position in Fastenal by 13.7% in the third quarter. Van ECK Associates Corp now owns 47,143 shares of the company’s stock worth $2,126,000 after acquiring an additional 5,671 shares during the period. Rockland Trust Co. raised its position in Fastenal by 14.8% in the fourth quarter. Rockland Trust Co. now owns 6,869 shares of the company’s stock worth $335,000 after acquiring an additional 883 shares during the period. First Financial Bank Trust Division raised its position in Fastenal by 0.4% in the fourth quarter. First Financial Bank Trust Division now owns 176,460 shares of the company’s stock worth $8,617,000 after acquiring an additional 789 shares during the period. Finally, American National Bank raised its position in Fastenal by 5.1% in the fourth quarter. American National Bank now owns 19,862 shares of the company’s stock worth $970,000 after acquiring an additional 960 shares during the period. 77.13% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Fastenal from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 20th. Robert W. Baird lifted their target price on shares of Fastenal from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 14th. Finally, Zacks Investment Research downgraded shares of Fastenal from a “hold” rating to a “sell” rating and set a $54.00 target price for the company. in a research note on Monday, April 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.56.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Monday, April 12th. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Fastenal had a net margin of 15.12% and a return on equity of 30.63%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the company earned $0.35 earnings per share. Fastenal’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Fastenal will post 1.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 25th. Shareholders of record on Monday, April 26th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, April 23rd. This represents a $1.12 annualized dividend and a yield of 2.11%. Fastenal’s payout ratio is presently 81.16%.
In related news, Director Michael John Dolan bought 2,500 shares of the company’s stock in a transaction on Friday, February 5th. The stock was acquired at an average cost of $47.31 per share, for a total transaction of $118,275.00. Following the completion of the transaction, the director now directly owns 12,500 shares in the company, valued at approximately $591,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen L. Eastman bought 1,000 shares of the company’s stock in a transaction on Friday, March 5th. The shares were bought at an average price of $44.63 per share, with a total value of $44,630.00. The disclosure for this purchase can be found here. Insiders own 0.57% 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, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, 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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