Kornitzer Capital Management Inc. KS Raises Position in Fastenal Co. (FAST)
Kornitzer Capital Management Inc. KS raised its position in shares of Fastenal Co. (NASDAQ:FAST) by 0.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 158,204 shares of the company’s stock after buying an additional 139 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Fastenal were worth $7,023,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of FAST. Ngam Advisors L.P. boosted its stake in shares of Fastenal by 52.6% in the first quarter. Ngam Advisors L.P. now owns 26,251 shares of the company’s stock worth $1,286,000 after buying an additional 9,050 shares during the period. Prudential Financial Inc. boosted its stake in Fastenal by 2.9% in the first quarter. Prudential Financial Inc. now owns 357,903 shares of the company’s stock valued at $17,537,000 after buying an additional 10,130 shares during the last quarter. Aviva PLC boosted its stake in Fastenal by 1.2% in the first quarter. Aviva PLC now owns 133,840 shares of the company’s stock valued at $6,558,000 after buying an additional 1,565 shares during the last quarter. BB&T Securities LLC boosted its stake in Fastenal by 235.9% in the first quarter. BB&T Securities LLC now owns 309,729 shares of the company’s stock valued at $15,176,000 after buying an additional 217,522 shares during the last quarter. Finally, Zebra Capital Management LLC boosted its stake in Fastenal by 22.1% in the first quarter. Zebra Capital Management LLC now owns 23,288 shares of the company’s stock valued at $1,141,000 after buying an additional 4,216 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.
Fastenal Co. (NASDAQ:FAST) traded down 0.18% on Monday, hitting $38.27. 2,704,070 shares of the stock traded hands. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 21.87 and a beta of 0.99. Fastenal Co. has a 12-month low of $35.10 and a 12-month high of $49.99. The firm’s 50-day moving average price is $41.29 and its 200-day moving average price is $43.99.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Tuesday, October 11th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by $0.01. Fastenal had a return on equity of 26.84% and a net margin of 12.61%. The business earned $1.01 billion during the quarter. During the same quarter in the previous year, the company earned $0.47 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts anticipate that Fastenal Co. will post $1.74 EPS for the current fiscal year.
The firm 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. The ex-dividend date is Friday, October 21st. This represents a $1.20 annualized dividend and a dividend yield of 3.14%. Fastenal’s dividend payout ratio is presently 69.77%.
Several equities research analysts recently issued reports on FAST shares. Morgan Stanley started coverage on shares of Fastenal in a research report on Thursday, July 7th. They set an “equal weight” rating and a $46.00 price objective for the company. BMO Capital Markets restated a “market perform” rating and set a $47.00 price objective on shares of Fastenal in a research report on Wednesday, July 13th. Zacks Investment Research cut shares of Fastenal from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 14th. Macquarie started coverage on shares of Fastenal in a research report on Thursday, August 25th. They set a “neutral” rating and a $50.00 price objective for the company. Finally, Wells Fargo & Co. restated a “hold” rating on shares of Fastenal in a research report on Sunday, September 4th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $47.15.
In other news, Director Michael J. Ancius bought 700 shares of Fastenal stock in a transaction on Thursday, October 13th. The shares were bought at an average cost of $38.82 per share, for a total transaction of $27,174.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.78% of the stock is currently owned by corporate insiders.
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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