Fastenal Co. (FAST) Position Increased by Sequoia Financial Advisors LLC
Sequoia Financial Advisors LLC boosted its stake in Fastenal Co. (NASDAQ:FAST) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,052 shares of the company’s stock after buying an additional 10 shares during the period. Sequoia Financial Advisors LLC’s holdings in Fastenal were worth $224,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Advisors LLC boosted its position in shares of Fastenal by 0.4% in the second quarter. Strategic Advisors LLC now owns 13,304 shares of the company’s stock valued at $591,000 after buying an additional 47 shares during the period. Washington Trust Bank boosted 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. 1st Global Advisors Inc. boosted its position in shares of Fastenal by 0.4% in the second quarter. 1st Global Advisors Inc. now owns 21,092 shares of the company’s stock valued at $936,000 after buying an additional 84 shares during the period. Cleararc Capital Inc. boosted its position in shares of Fastenal by 2.1% in the first quarter. Cleararc Capital Inc. now owns 7,241 shares of the company’s stock valued at $355,000 after buying an additional 152 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Fastenal by 2.4% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,397 shares of the company’s stock valued at $462,000 after buying an additional 247 shares during the period. 82.12% of the stock is owned by institutional investors and hedge funds.
Fastenal Co. (NASDAQ:FAST) remained flat at $38.34 during trading on Friday. The company had a trading volume of 3,368,025 shares. The firm has a 50-day moving average price of $41.29 and a 200-day moving average price of $43.99. The company has a market cap of $11.08 billion, a price-to-earnings ratio of 21.91 and a beta of 0.99. Fastenal Co. has a 12 month low of $35.10 and a 12 month high of $49.99.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, October 11th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The company earned $1.01 billion during the quarter. Fastenal had a net margin of 12.61% and a return on equity of 26.84%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. Equities research analysts anticipate that Fastenal Co. will post $1.74 earnings per share for the current year.
The business also recently disclosed 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 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, October 21st. Fastenal’s payout ratio is currently 69.77%.
Several brokerages have issued reports on FAST. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Fastenal in a report on Sunday, September 4th. Zacks Investment Research cut shares of Fastenal from a “hold” rating to a “sell” rating in a report on Friday. Argus lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Friday. Robert W. Baird reiterated a “neutral” rating and issued a $45.00 price target on shares of Fastenal in a research note on Thursday. Finally, BMO Capital Markets set a $45.00 price target on shares of Fastenal and gave the stock a “hold” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $47.15.
Fastenal Company Profile
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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