Raymond James Financial Services Advisors Inc. cut its holdings in shares of Fastenal (NASDAQ:FAST - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 290,330 shares of the company's stock after selling 21,101 shares during the quarter. Raymond James Financial Services Advisors Inc. owned approximately 0.05% of Fastenal worth $22,396,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Xponance Inc. lifted its holdings in shares of Fastenal by 1.8% in the third quarter. Xponance Inc. now owns 116,277 shares of the company's stock worth $6,353,000 after buying an additional 2,030 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Fastenal by 19.5% in the third quarter. Pinnacle Associates Ltd. now owns 8,570 shares of the company's stock worth $468,000 after buying an additional 1,396 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Fastenal by 0.9% in the third quarter. Raymond James & Associates now owns 868,357 shares of the company's stock worth $47,447,000 after buying an additional 7,643 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Fastenal by 7.4% in the third quarter. Stratos Wealth Partners LTD. now owns 90,405 shares of the company's stock worth $4,940,000 after buying an additional 6,192 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Fastenal by 2.6% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 279,156 shares of the company's stock worth $15,253,000 after buying an additional 7,100 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, insider Jeffery Michael Watts sold 19,420 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total transaction of $1,364,255.00. Following the completion of the sale, the insider now owns 5,940 shares of the company's stock, valued at $417,285. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Jeffery Michael Watts sold 19,420 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total transaction of $1,364,255.00. Following the completion of the sale, the insider now owns 5,940 shares of the company's stock, valued at $417,285. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Charles S. Miller sold 11,076 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,082 shares of company stock valued at $2,584,060. 0.41% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on FAST shares. Robert W. Baird decreased their price objective on shares of Fastenal from $77.00 to $71.00 and set a "neutral" rating on the stock in a research report on Friday, April 12th. Loop Capital decreased their price objective on shares of Fastenal from $71.00 to $66.00 and set a "hold" rating on the stock in a research report on Monday, April 15th. Stifel Nicolaus upped their price objective on shares of Fastenal from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, March 18th. Finally, HSBC upped their price objective on shares of Fastenal from $59.00 to $64.00 and gave the stock a "hold" rating in a research report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Fastenal currently has a consensus rating of "Hold" and an average price target of $67.67.
Get Our Latest Report on Fastenal
Fastenal Price Performance
NASDAQ FAST traded down $0.09 on Thursday, reaching $68.09. 3,080,111 shares of the company's stock traded hands, compared to its average volume of 3,957,131. Fastenal has a 12 month low of $52.85 and a 12 month high of $79.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The stock has a 50-day simple moving average of $73.21 and a 200 day simple moving average of $67.01. The stock has a market cap of $38.98 billion, a PE ratio of 33.71, a P/E/G ratio of 3.56 and a beta of 1.07.
Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The firm's revenue was up 1.9% on a year-over-year basis. As a group, research analysts predict that Fastenal will post 2.12 earnings per share for the current year.
Fastenal Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Wednesday, April 24th. Fastenal's dividend payout ratio (DPR) is presently 77.23%.
About Fastenal
(
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.
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