B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Fastenal Company (NASDAQ:FAST - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 689,676 shares of the company's stock, valued at approximately $33,125,000. B. Metzler seel. Sohn & Co. AG owned 0.06% of Fastenal at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Fastenal during the second quarter worth $26,000. Evergreen Advisors LLC purchased a new position in Fastenal in the first quarter worth $26,000. Palladiem LLC acquired a new stake in Fastenal in the fourth quarter valued at $25,000. Elyxium Wealth LLC acquired a new stake in Fastenal in the fourth quarter valued at $25,000. Finally, MV Capital Management Inc. purchased a new stake in shares of Fastenal during the 4th quarter worth $29,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.
Fastenal Trading Down 1.5%
NASDAQ:FAST opened at $50.66 on Friday. The company has a market capitalization of $58.13 billion, a PE ratio of 42.93, a price-to-earnings-growth ratio of 3.21 and a beta of 0.72. The company has a quick ratio of 2.21, a current ratio of 4.18 and a debt-to-equity ratio of 0.01. Fastenal Company has a 52-week low of $38.97 and a 52-week high of $52.92. The stock has a fifty day simple moving average of $47.86 and a 200-day simple moving average of $46.33.
Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 EPS for the quarter, meeting analysts' consensus estimates of $0.33. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The firm had revenue of $2.39 billion for the quarter, compared to analysts' expectations of $2.34 billion. During the same period in the prior year, the company earned $0.29 EPS. The firm's revenue was up 14.7% on a year-over-year basis. On average, equities research analysts expect that Fastenal Company will post 1.26 earnings per share for the current fiscal year.
Fastenal Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be given a $0.26 dividend. This is a boost from Fastenal's previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, July 28th. Fastenal's dividend payout ratio (DPR) is currently 88.14%.
Insider Activity at Fastenal
In related news, Director Michael J. Ancius sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total value of $147,000.00. Following the sale, the director owned 58,690 shares of the company's stock, valued at approximately $2,875,810. This represents a 4.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rita J. Heise sold 34,964 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total value of $1,749,948.20. Following the completion of the sale, the director directly owned 20,000 shares in the company, valued at approximately $1,001,000. The trade was a 63.61% decrease in their position. The SEC filing for this sale provides additional information. 0.28% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Fastenal from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 16th. Sanford C. Bernstein reiterated an "underperform" rating on shares of Fastenal in a research note on Wednesday, July 15th. Rothschild & Co Redburn set a $55.00 price objective on shares of Fastenal and gave the stock a "buy" rating in a report on Monday, July 13th. DA Davidson restated a "neutral" rating and set a $46.00 target price on shares of Fastenal in a research report on Wednesday, July 15th. Finally, Morgan Stanley increased their target price on shares of Fastenal from $48.00 to $52.00 and gave the company an "equal weight" rating in a report on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $49.17.
Get Our Latest Research Report on FAST
Fastenal Profile
(
Free Report)
Fastenal NASDAQ: FAST is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.
Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.
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Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal Company (NASDAQ:FAST - Free Report).
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