American Capital Management Inc. lessened its holdings in shares of Fastenal (NASDAQ:FAST) by 20.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,693 shares of the company’s stock after selling 14,685 shares during the period. American Capital Management Inc.’s holdings in Fastenal were worth $3,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of FAST. Trust Department MB Financial Bank N A purchased a new position in shares of Fastenal during the second quarter worth $137,000. Delta Asset Management LLC TN raised its holdings in shares of Fastenal by 3,540.7% during the third quarter. Delta Asset Management LLC TN now owns 3,131 shares of the company’s stock worth $182,000 after purchasing an additional 3,045 shares during the last quarter. Canton Hathaway LLC purchased a new position in shares of Fastenal during the third quarter worth $186,000. Twin Tree Management LP purchased a new position in shares of Fastenal during the second quarter worth $203,000. Finally, Stock Yards Bank & Trust Co. purchased a new position in shares of Fastenal during the second quarter worth $209,000. 86.30% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Daniel L. Florness bought 2,000 shares of the company’s stock in a transaction dated Friday, October 12th. The shares were acquired at an average price 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 in the company, valued at $5,186,947.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel L. Johnson bought 965 shares of the company’s stock in a transaction dated 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 disclosure for this purchase can be found here. In the last quarter, insiders bought 5,795 shares of company stock worth $299,849. Company insiders own 0.56% of the company’s stock.
FAST has been the subject of a number of recent analyst reports. Northcoast Research set a $60.00 price objective on shares of Fastenal and gave the company a “buy” rating in a report on Friday, July 13th. ValuEngine raised shares of Fastenal from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Saturday, July 14th. BidaskClub raised shares of Fastenal from a “hold” rating to a “buy” rating in a report on Tuesday, August 21st. Finally, Wells Fargo & Co set a $50.00 price objective on shares of Fastenal and gave the company a “hold” rating in a report on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Fastenal has an average rating of “Hold” and an average price target of $56.40.
FAST opened at $52.64 on Tuesday. Fastenal has a fifty-two week low of $46.72 and a fifty-two week high of $61.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.35 and a quick ratio of 2.48. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.46 and a beta of 1.01.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Wednesday, October 10th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. Fastenal had a net margin of 15.25% and a return on equity of 32.29%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities analysts anticipate that Fastenal will post 2.58 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, October 24th will be given a $0.40 dividend. The ex-dividend date is Tuesday, October 23rd. This represents a $1.60 annualized dividend and a dividend yield of 3.04%. Fastenal’s dividend payout ratio (DPR) is 82.90%.
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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