Fastenal Co. (FAST) Shares Bought by American Research & Management Co.
American Research & Management Co. raised its stake in Fastenal Co. (NASDAQ:FAST) by 191.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,740 shares of the company’s stock after buying an additional 1,800 shares during the period. American Research & Management Co.’s holdings in Fastenal were worth $122,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. Ironwood Investment Counsel LLC purchased a new position in shares of Fastenal during the first quarter valued at $438,000. Geode Capital Management LLC increased its position in shares of Fastenal by 6.4% in the first quarter. Geode Capital Management LLC now owns 2,551,508 shares of the company’s stock valued at $124,792,000 after buying an additional 153,032 shares during the period. Nicholas Investment Partners LP purchased a new position in shares of Fastenal during the first quarter valued at $2,870,000. Cleararc Capital Inc. increased 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, Riverhead Capital Management LLC increased its position in shares of Fastenal by 12.1% in the first quarter. Riverhead Capital Management LLC now owns 213,330 shares of the company’s stock valued at $10,454,000 after buying an additional 23,105 shares during the period. Institutional investors own 82.15% of the company’s stock.
Fastenal Co. (NASDAQ:FAST) traded up 1.99% during mid-day trading on Wednesday, hitting $38.92. 3,268,740 shares of the company were exchanged. The stock’s 50 day moving average is $40.97 and its 200-day moving average is $43.77. Fastenal Co. has a 12-month low of $35.10 and a 12-month high of $49.99. The company has a market cap of $11.25 billion, a price-to-earnings ratio of 22.24 and a beta of 0.99.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings results 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 net margin of 12.61% and a return on equity of 26.84%. The company had revenue of $1.01 billion for the quarter. During the same quarter in the previous year, the business posted $0.47 EPS. The firm’s revenue was up 1.8% on a year-over-year basis. Equities research analysts predict that Fastenal Co. will post $1.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, October 25th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, October 21st. This represents a $1.20 annualized dividend and a dividend yield of 3.08%. Fastenal’s payout ratio is 69.77%.
Several research analysts have recently weighed in on FAST shares. Vetr downgraded shares of Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 target price for the company. in a research note on Tuesday, September 6th. Zacks Investment Research upgraded shares of Fastenal from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Morgan Stanley started coverage on shares of Fastenal in a research note on Thursday, July 7th. They issued an “equal weight” rating and a $46.00 target price for the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $47.00 price target on shares of Fastenal in a report on Wednesday, July 13th. Finally, Macquarie started coverage on shares of Fastenal in a report on Thursday, August 25th. They issued a “neutral” rating and a $50.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a buy rating to the company. Fastenal currently has an average rating of “Hold” and an average target price of $47.15.
In related news, Director Michael J. Ancius acquired 700 shares of the stock in a transaction dated Thursday, October 13th. The shares were acquired at an average price of $38.82 per share, for a total transaction of $27,174.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.78% of the stock is currently owned by 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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