Fastenal Co. (FAST) Position Boosted by GW Henssler & Associates Ltd.
GW Henssler & Associates Ltd. increased its stake in Fastenal Co. (NASDAQ:FAST) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 262,802 shares of the company’s stock after buying an additional 1,694 shares during the period. Fastenal makes up 1.3% of GW Henssler & Associates Ltd.’s investment portfolio, making the stock its 26th largest position. GW Henssler & Associates Ltd.’s holdings in Fastenal were worth $11,666,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Washington Trust Bank increased its position in shares of Fastenal by 2.3% in the second quarter. Washington Trust Bank now owns 2,762 shares of the company’s stock valued at $123,000 after buying an additional 62 shares during the period. Brookstone Capital Management bought a new position in shares of Fastenal during the second quarter valued at about $204,000. TNB Financial bought a new position in shares of Fastenal during the second quarter valued at about $233,000. Spectrum Management Group Inc. increased its position in shares of Fastenal by 153.9% in the second quarter. Spectrum Management Group Inc. now owns 5,395 shares of the company’s stock valued at $239,000 after buying an additional 3,270 shares during the period. Finally, Silvercrest Asset Management Group LLC bought a new position in shares of Fastenal during the first quarter valued at about $249,000. Institutional investors own 82.12% of the company’s stock.
Fastenal Co. (NASDAQ:FAST) remained flat at $38.34 during trading on Friday. The stock had a trading volume of 3,368,022 shares. Fastenal Co. has a 52 week low of $35.10 and a 52 week high of $49.99. The company has a market capitalization of $11.08 billion, a PE ratio of 21.91 and a beta of 0.99. The stock’s 50 day moving average is $41.44 and its 200 day moving average is $44.06.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, October 11th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by $0.01. Fastenal had a return on equity of 26.84% and a net margin of 12.61%. The company had revenue of $1.01 billion for the quarter. During the same period in the prior year, the company earned $0.47 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that Fastenal Co. will post $1.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, October 25th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Friday, October 21st. Fastenal’s payout ratio is presently 69.77%.
FAST has been the subject of several research analyst reports. Morgan Stanley initiated coverage on shares of Fastenal in a report on Thursday, July 7th. They set an “equal weight” rating and a $46.00 price target for the company. BMO Capital Markets set a $45.00 price objective on Fastenal and gave the company a “hold” rating in a report on Wednesday. Zacks Investment Research upgraded Fastenal from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Vetr downgraded Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 price objective for the company. in a report on Tuesday, September 6th. Finally, Wells Fargo & Co. restated a “hold” rating on shares of Fastenal in a report on Sunday, September 4th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $47.15.
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.
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