CIBC Asset Management Inc lifted its position in Fastenal (NASDAQ:FAST) by 3.0% in the 1st quarter, HoldingsChannel reports. The fund owned 42,179 shares of the company’s stock after buying an additional 1,238 shares during the period. CIBC Asset Management Inc’s holdings in Fastenal were worth $2,713,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. DNB Asset Management AS lifted its position in shares of Fastenal by 14.9% in the 4th quarter. DNB Asset Management AS now owns 53,980 shares of the company’s stock valued at $2,823,000 after acquiring an additional 7,012 shares in the last quarter. Trust Co. of Virginia VA increased its stake in Fastenal by 4.8% in the 4th quarter. Trust Co. of Virginia VA now owns 106,810 shares of the company’s stock valued at $5,585,000 after buying an additional 4,884 shares during the period. Meristem Family Wealth LLC acquired a new position in Fastenal in the 1st quarter valued at approximately $220,000. Green Square Capital LLC increased its stake in Fastenal by 9.1% in the 4th quarter. Green Square Capital LLC now owns 131,767 shares of the company’s stock valued at $6,890,000 after buying an additional 10,940 shares during the period. Finally, Northern Trust Corp increased its stake in Fastenal by 7.9% in the 4th quarter. Northern Trust Corp now owns 3,660,888 shares of the company’s stock valued at $191,427,000 after buying an additional 267,997 shares during the period. Institutional investors and hedge funds own 85.94% of the company’s stock.
In other news, insider Leland J. Hein sold 22,500 shares of the stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $63.13, for a total transaction of $1,420,425.00. Following the transaction, the insider now owns 30,111 shares in the company, valued at approximately $1,900,907.43. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Leland J. Hein sold 19,929 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $70.37, for a total transaction of $1,402,403.73. Following the transaction, the insider now owns 14,931 shares in the company, valued at approximately $1,050,694.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,970 shares of company stock worth $12,905,432. 0.56% of the stock is currently owned by company insiders.
Shares of FAST opened at $64.17 on Friday. Fastenal has a 12 month low of $47.37 and a 12 month high of $71.88. The firm has a market cap of $18.50 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20. The company has a current ratio of 4.31, a quick ratio of 1.97 and a debt-to-equity ratio of 0.20.
Fastenal shares are scheduled to split on Wednesday, May 22nd. The 2-1 split was announced on Thursday, April 18th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, May 21st.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Thursday, April 11th. The company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Fastenal had a net margin of 15.16% and a return on equity of 33.52%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the business posted $0.61 EPS. Equities research analysts forecast that Fastenal will post 2.84 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, April 24th will be paid a dividend of $0.43 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $1.72 annualized dividend and a dividend yield of 2.68%. Fastenal’s dividend payout ratio (DPR) is 65.40%.
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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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