US Bancorp DE decreased its position in Fastenal (NASDAQ:FAST) by 8.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 410,613 shares of the company’s stock after selling 36,325 shares during the quarter. US Bancorp DE’s holdings in Fastenal were worth $26,406,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in FAST. Teachers Advisors LLC raised its holdings in shares of Fastenal by 1.7% in the 3rd quarter. Teachers Advisors LLC now owns 876,040 shares of the company’s stock valued at $50,828,000 after acquiring an additional 15,056 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of 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 buying an additional 11,185 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of 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 buying an additional 311,099 shares in the last quarter. Toth Financial Advisory Corp raised its holdings in shares of 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 buying an additional 715 shares in the last quarter. Finally, Alethea Capital Management LLC purchased a new position in shares of Fastenal during the 4th quarter valued at about $390,000. 84.94% of the stock is currently owned by institutional investors.
A number of brokerages recently weighed in on FAST. BidaskClub raised Fastenal from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 23rd. Zacks Investment Research cut Fastenal from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Northcoast Research cut Fastenal from a “buy” rating to a “neutral” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. William Blair cut Fastenal from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 7th. Finally, Buckingham Research set a $32.50 price target on Fastenal and gave the stock a “hold” rating in a research note on Friday, April 12th. Twelve analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Fastenal currently has a consensus rating of “Hold” and a consensus price target of $30.85.
Fastenal stock traded down $32.79 during trading hours on Thursday, reaching $31.49. The company had a trading volume of 98,457 shares, compared to its average volume of 2,348,248. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.31 and a quick ratio of 1.97. The stock has a market capitalization of $18.61 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 1.43 and a beta of 1.20. Fastenal has a 12-month low of $23.68 and a 12-month high of $65.22.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Thursday, April 11th. The company reported $0.34 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.34. The firm had revenue of $1.31 billion for 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 company earned $0.31 EPS. Sell-side analysts expect that Fastenal will post 2.84 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, April 24th were given a $0.43 dividend. The ex-dividend date was Tuesday, April 23rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.46%. Fastenal’s dividend payout ratio is currently 65.40%.
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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