Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 5,135.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,285 shares of the company's stock after buying an additional 55,210 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Fastenal were worth $4,047,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. MML Investors Services LLC raised its position in shares of Fastenal by 0.5% in the 4th quarter. MML Investors Services LLC now owns 28,573 shares of the company's stock valued at $2,055,000 after purchasing an additional 152 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Fastenal by 1.2% in the 4th quarter. MetLife Investment Management LLC now owns 172,888 shares of the company's stock valued at $12,432,000 after purchasing an additional 2,024 shares during the last quarter. Natixis raised its position in shares of Fastenal by 948.8% in the 4th quarter. Natixis now owns 95,926 shares of the company's stock valued at $6,898,000 after purchasing an additional 86,780 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Fastenal by 216.5% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 26,843 shares of the company's stock valued at $1,930,000 after purchasing an additional 18,361 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Fastenal by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,829,635 shares of the company's stock valued at $275,393,000 after purchasing an additional 51,534 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. William Blair raised shares of Fastenal from a "market perform" rating to an "outperform" rating in a research report on Monday, March 10th. Robert W. Baird increased their price target on shares of Fastenal from $80.00 to $86.00 and gave the stock a "neutral" rating in a report on Monday, April 14th. Stephens increased their price target on shares of Fastenal from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 15th. Wolfe Research upgraded shares of Fastenal from an "underperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Finally, Stifel Nicolaus cut their price target on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $79.10.
View Our Latest Research Report on FAST
Insider Activity at Fastenal
In related news, EVP William Joseph Drazkowski sold 15,000 shares of Fastenal stock in a transaction on Monday, April 14th. The shares were sold at an average price of $81.31, for a total value of $1,219,650.00. Following the sale, the executive vice president now owns 5,997 shares of the company's stock, valued at approximately $487,616.07. This trade represents a 71.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is owned by corporate insiders.
Fastenal Stock Performance
Shares of NASDAQ FAST traded down $1.37 during midday trading on Friday, reaching $80.73. 3,196,449 shares of the stock were exchanged, compared to its average volume of 3,094,554. The firm has a market cap of $46.31 billion, a price-to-earnings ratio of 40.16, a PEG ratio of 3.58 and a beta of 1.05. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The firm has a 50-day simple moving average of $76.93 and a two-hundred day simple moving average of $77.09. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03.
Fastenal's stock is scheduled to split before the market opens on Thursday, May 22nd. The 2-1 split was announced on Wednesday, April 23rd. The newly issued shares will be issued to shareholders after the closing bell on Wednesday, May 21st.
Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.52. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter last year, the company earned $0.52 EPS. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.
Fastenal Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be paid a $0.44 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.76 dividend on an annualized basis and a yield of 2.18%. This is a boost from Fastenal's previous quarterly dividend of $0.43. Fastenal's dividend payout ratio (DPR) is currently 87.56%.
Fastenal Company Profile
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Free Report)
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
Further Reading
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