Boston Financial Mangement LLC boosted its holdings in shares of Fastenal (NASDAQ:FAST) by 5.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,370 shares of the company’s stock after acquiring an additional 5,492 shares during the quarter. Boston Financial Mangement LLC’s holdings in Fastenal were worth $6,519,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Investors Research Corp acquired a new stake in Fastenal during the first quarter worth $26,000. Berman Capital Advisors LLC purchased a new position in shares of Fastenal during the fourth quarter worth $26,000. AdvisorNet Financial Inc boosted its position in shares of Fastenal by 46.9% during the fourth quarter. AdvisorNet Financial Inc now owns 564 shares of the company’s stock worth $29,000 after buying an additional 180 shares during the period. Avestar Capital LLC boosted its position in shares of Fastenal by 3,163.2% during the fourth quarter. Avestar Capital LLC now owns 620 shares of the company’s stock worth $30,000 after buying an additional 601 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Fastenal during the fourth quarter worth $39,000. 86.64% of the stock is owned by institutional investors.
In other Fastenal news, insider Nicholas J. Lundquist sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $60.51, for a total value of $302,550.00. Following the sale, the insider now directly owns 216,000 shares in the company, valued at $13,070,160. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Willard D. Oberton sold 25,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $70.85, for a total value of $1,771,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 162,012 shares of company stock worth $10,747,216. 0.56% of the stock is owned by insiders.
Shares of Fastenal are going to split on Wednesday, May 22nd. The 2-1 split was announced on Thursday, April 18th. The newly minted shares will be payable to shareholders after the market closes on Tuesday, May 21st.
Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, April 11th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Fastenal had a return on equity of 33.52% and a net margin of 15.16%. During the same period last year, the business posted $0.61 earnings per share. Equities research analysts predict that Fastenal will post 2.85 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, April 24th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Tuesday, April 23rd. Fastenal’s dividend payout ratio is presently 65.40%.
Several research firms have recently commented on FAST. BidaskClub upgraded Fastenal from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Zacks Investment Research lowered Fastenal from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. Raymond James set a $78.00 price target on Fastenal and gave the stock a “buy” rating in a research report on Friday, April 12th. Buckingham Research set a $65.00 price target on Fastenal and gave the stock a “hold” rating in a research report on Friday, April 12th. Finally, Northcoast Research lowered Fastenal from a “buy” rating to a “neutral” rating in a research report on Monday, April 15th. They noted that the move was a valuation call. Eleven research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $61.70.
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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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