Todd Asset Management LLC Has $18.49 Million Stake in Fastenal (FAST)
Todd Asset Management LLC boosted its holdings in Fastenal (NASDAQ:FAST) by 17.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 318,731 shares of the company’s stock after acquiring an additional 46,929 shares during the period. Todd Asset Management LLC’s holdings in Fastenal were worth $18,493,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc raised its stake in Fastenal by 4.5% in the 2nd quarter. CIBC Asset Management Inc now owns 39,775 shares of the company’s stock valued at $1,914,000 after acquiring an additional 1,708 shares during the period. Global X Management Co LLC raised its stake in Fastenal by 16.4% in the 2nd quarter. Global X Management Co LLC now owns 69,024 shares of the company’s stock valued at $3,322,000 after acquiring an additional 9,734 shares during the period. Marshall Wace LLP bought a new stake in Fastenal in the 2nd quarter valued at $1,322,000. Achmea Investment Management B.V. raised its stake in Fastenal by 28.7% in the 2nd quarter. Achmea Investment Management B.V. now owns 66,651 shares of the company’s stock valued at $3,204,000 after acquiring an additional 14,857 shares during the period. Finally, Bank of Montreal Can raised its stake in Fastenal by 23.8% in the 3rd quarter. Bank of Montreal Can now owns 494,532 shares of the company’s stock valued at $28,693,000 after acquiring an additional 95,225 shares during the period. Institutional investors and hedge funds own 84.37% of the company’s stock.
Several research firms have weighed in on FAST. BidaskClub upgraded Fastenal from a “hold” rating to a “buy” rating in a research report on Saturday. ValuEngine upgraded Fastenal from a “hold” rating to a “buy” rating in a research report on Thursday, November 15th. Zacks Investment Research cut Fastenal from a “buy” rating to a “hold” rating in a research report on Tuesday, November 13th. Buckingham Research began coverage on Fastenal in a research report on Monday, October 22nd. They set a “neutral” rating and a $50.00 price objective on the stock. Finally, Wells Fargo & Co set a $50.00 price objective on Fastenal and gave the stock a “hold” rating in a research report on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Fastenal presently has an average rating of “Hold” and a consensus price target of $56.40.
FAST stock opened at $57.48 on Tuesday. The company has a current ratio of 5.35, a quick ratio of 2.48 and a debt-to-equity ratio of 0.17. The firm has a market cap of $16.52 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 1.59 and a beta of 1.01. Fastenal has a fifty-two week low of $47.37 and a fifty-two week high of $61.14.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, October 10th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Fastenal had a return on equity of 32.29% and a net margin of 15.25%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. As a group, equities analysts expect that Fastenal will post 2.59 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, October 24th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.78%. The ex-dividend date is Tuesday, October 23rd. Fastenal’s payout ratio is 82.90%.
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Fastenal Company Profile
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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