Hendershot Investments Inc. Has $5.72 Million Position in Fastenal (FAST)
Hendershot Investments Inc. lifted its position in Fastenal (NASDAQ:FAST) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 98,558 shares of the company’s stock after purchasing an additional 4,671 shares during the quarter. Fastenal comprises about 2.0% of Hendershot Investments Inc.’s holdings, making the stock its 20th biggest holding. Hendershot Investments Inc.’s holdings in Fastenal were worth $5,718,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cantillon Capital Management LLC purchased a new position in Fastenal during the second quarter worth about $154,074,000. MERIAN GLOBAL INVESTORS UK Ltd boosted its stake in Fastenal by 39,030.3% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,396,560 shares of the company’s stock worth $81,028,000 after buying an additional 1,392,991 shares during the period. Morgan Stanley boosted its stake in Fastenal by 35.3% during the second quarter. Morgan Stanley now owns 2,184,270 shares of the company’s stock worth $105,130,000 after buying an additional 569,836 shares during the period. USS Investment Management Ltd purchased a new position in Fastenal during the second quarter worth about $27,288,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in Fastenal by 9,724.1% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 434,715 shares of the company’s stock worth $20,923,000 after buying an additional 430,290 shares during the period. 85.85% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have weighed in on FAST shares. BidaskClub raised shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Tuesday, August 21st. Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Robert W. Baird lowered shares of Fastenal from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 3rd. Stifel Nicolaus increased their target price on shares of Fastenal from $53.00 to $56.00 and gave the stock a “hold” rating in a research note on Friday, July 13th. Finally, Northcoast Research set a $60.00 target price on shares of Fastenal and gave the stock a “buy” rating in a research note on Friday, July 13th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Fastenal presently has an average rating of “Hold” and an average price target of $57.11.
Shares of FAST traded down $0.29 during mid-day trading on Wednesday, hitting $52.66. 174,421 shares of the company’s stock were exchanged, compared to its average volume of 2,881,618. The stock has a market capitalization of $16.65 billion, a PE ratio of 27.26, a P/E/G ratio of 1.62 and a beta of 0.92. Fastenal has a fifty-two week low of $45.96 and a fifty-two week high of $61.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.57 and a current ratio of 5.62.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Wednesday, October 10th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Fastenal had a net margin of 14.57% and a return on equity of 30.82%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share. On average, sell-side analysts predict that Fastenal will post 2.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, October 24th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, October 23rd. This represents a $1.60 annualized dividend and a dividend yield of 3.04%. Fastenal’s dividend payout ratio is presently 82.90%.
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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