Cetera Advisor Networks LLC increased its holdings in shares of Fastenal (NASDAQ:FAST) by 8.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,193 shares of the company’s stock after purchasing an additional 476 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Fastenal were worth $399,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Teachers Advisors LLC lifted its holdings in Fastenal by 1.7% during the 3rd quarter. Teachers Advisors LLC now owns 876,040 shares of the company’s stock valued at $50,828,000 after purchasing an additional 15,056 shares during the last quarter. Legal & General Group Plc lifted its holdings in Fastenal by 0.8% during the 3rd quarter. Legal & General Group Plc now owns 1,444,214 shares of the company’s stock valued at $83,786,000 after purchasing an additional 11,185 shares during the last quarter. Vanguard Group Inc lifted its holdings in Fastenal by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 32,459,382 shares of the company’s stock valued at $1,883,293,000 after purchasing an additional 311,099 shares during the last quarter. Toth Financial Advisory Corp lifted its holdings in Fastenal by 357.5% during the 4th quarter. Toth Financial Advisory Corp now owns 915 shares of the company’s stock valued at $48,000 after purchasing an additional 715 shares during the last quarter. Finally, Alethea Capital Management LLC bought a new position in Fastenal during the 4th quarter valued at about $390,000. Hedge funds and other institutional investors own 84.94% of the company’s stock.
In other news, insider Leland J. Hein sold 22,500 shares of Fastenal stock in a transaction that occurred 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 completion of the sale, the insider now owns 30,111 shares in the company, valued at approximately $1,900,907.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Daniel L. Florness sold 20,000 shares of Fastenal stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $70.75, for a total transaction of $1,415,000.00. Following the sale, the chief executive officer now owns 109,845 shares of the company’s stock, valued at approximately $7,771,533.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,970 shares of company stock valued at $12,905,432. 0.56% of the stock is owned by corporate insiders.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Thursday, April 11th. The company reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Fastenal had a net margin of 15.16% and a return on equity of 33.52%. During the same quarter last year, the company posted $0.31 EPS. As a group, equities research analysts forecast that Fastenal will post 2.84 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, April 24th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Tuesday, April 23rd. Fastenal’s dividend payout ratio is 65.40%.
Several equities analysts recently issued reports on FAST shares. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Wednesday, January 23rd. BidaskClub upgraded shares of Fastenal from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 24th. Buckingham Research raised their price objective on shares of Fastenal from $28.50 to $30.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Raymond James set a $39.00 price objective on shares of Fastenal and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, Northcoast Research cut shares of 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. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $30.85.
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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