YHB Investment Advisors Inc. Has $1.58 Million Position in Fastenal Company (FAST)
YHB Investment Advisors Inc. reduced its holdings in Fastenal Company (NASDAQ:FAST) by 17.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,628 shares of the company’s stock after selling 7,510 shares during the quarter. YHB Investment Advisors Inc.’s holdings in Fastenal were worth $1,578,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of FAST. Janus Henderson Group PLC increased its position in Fastenal by 357.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,822,655 shares of the company’s stock valued at $79,340,000 after acquiring an additional 1,423,856 shares during the period. Old Mutual Global Investors UK Ltd. increased its position in Fastenal by 580.8% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,496,666 shares of the company’s stock valued at $68,218,000 after acquiring an additional 1,276,832 shares during the period. Vanguard Group Inc. increased its position in Fastenal by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 31,573,149 shares of the company’s stock valued at $1,374,380,000 after acquiring an additional 943,262 shares during the period. Nicholas Company Inc. increased its position in Fastenal by 184.9% in the 2nd quarter. Nicholas Company Inc. now owns 1,210,440 shares of the company’s stock valued at $52,690,000 after acquiring an additional 785,595 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Fastenal by 60.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,076,097 shares of the company’s stock valued at $90,372,000 after acquiring an additional 781,071 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.
Fastenal Company (NASDAQ FAST) traded up $0.05 on Friday, hitting $47.59. The stock had a trading volume of 1,655,900 shares, compared to its average volume of 2,266,051. The company has a market cap of $13,676.89, a price-to-earnings ratio of 25.31, a PEG ratio of 1.76 and a beta of 1.06. The company has a current ratio of 5.36, a quick ratio of 2.45 and a debt-to-equity ratio of 0.21. Fastenal Company has a 1-year low of $39.79 and a 1-year high of $52.74.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company posted $0.44 EPS. equities research analysts expect that Fastenal Company will post 1.93 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, October 25th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Tuesday, October 24th. Fastenal’s dividend payout ratio is presently 68.09%.
In other news, insider Leland J. Hein sold 10,000 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $47.14, for a total value of $471,400.00. Following the completion of the sale, the insider now owns 21,290 shares of the company’s stock, valued at $1,003,610.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephen L. Eastman bought 800 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average cost of $40.58 per share, with a total value of $32,464.00. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 38,000 shares of company stock valued at $1,782,880. Corporate insiders own 0.55% of the company’s stock.
Several analysts recently commented on the company. KeyCorp restated a “buy” rating and issued a $52.00 target price on shares of Fastenal in a research report on Thursday, October 12th. Stephens set a $54.00 price target on Fastenal and gave the company a “buy” rating in a research note on Wednesday, October 11th. BMO Capital Markets reaffirmed a “market perform” rating and set a $51.00 price target (up from $46.00) on shares of Fastenal in a research note on Tuesday, October 10th. Morgan Stanley reaffirmed an “equal weight” rating and set a $46.00 price target (up from $44.00) on shares of Fastenal in a research note on Monday, October 2nd. Finally, BidaskClub lowered Fastenal from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $50.80.
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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