Alta Capital Management LLC boosted its holdings in shares of Fastenal (NASDAQ:FAST) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 738,442 shares of the company’s stock after buying an additional 18,900 shares during the quarter. Fastenal comprises 2.4% of Alta Capital Management LLC’s portfolio, making the stock its 19th biggest holding. Alta Capital Management LLC owned 0.26% of Fastenal worth $42,844,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. CIBC World Markets Inc. lifted its stake in shares of Fastenal by 5.6% in the second quarter. CIBC World Markets Inc. now owns 17,952 shares of the company’s stock valued at $864,000 after buying an additional 960 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Fastenal by 2.3% in the second quarter. Raymond James Trust N.A. now owns 42,630 shares of the company’s stock valued at $2,052,000 after buying an additional 968 shares during the period. Bradley Foster & Sargent Inc. CT lifted its stake in shares of Fastenal by 1.9% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 51,169 shares of the company’s stock valued at $2,463,000 after buying an additional 975 shares during the period. Boston Research & Management Inc. lifted its stake in shares of Fastenal by 1.4% in the second quarter. Boston Research & Management Inc. now owns 75,678 shares of the company’s stock valued at $3,642,000 after buying an additional 1,010 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Fastenal by 2.4% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 43,640 shares of the company’s stock valued at $2,100,000 after buying an additional 1,036 shares during the period. 85.85% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Daniel L. Florness bought 2,000 shares of the business’s stock in a transaction dated Friday, October 12th. The stock was bought at an average price of $51.95 per share, for a total transaction of $103,900.00. Following the completion of the purchase, the chief executive officer now owns 99,845 shares of the company’s stock, valued at approximately $5,186,947.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terry Modock Owen bought 1,500 shares of the business’s stock in a transaction dated Friday, October 12th. The stock was purchased at an average price of $52.07 per share, with a total value of $78,105.00. Following the purchase, the insider now directly owns 3,500 shares of the company’s stock, valued at approximately $182,245. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.
Fastenal (NASDAQ:FAST) last posted its earnings results on Wednesday, October 10th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. Fastenal had a net margin of 14.57% and a return on equity of 30.82%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. Fastenal’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, analysts forecast that Fastenal will post 2.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, October 24th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Tuesday, October 23rd. Fastenal’s dividend payout ratio (DPR) is currently 82.90%.
A number of research analysts have commented on FAST shares. BMO Capital Markets cut their price target on shares of Fastenal from $57.00 to $54.00 and set a “market perform” rating for the company in a research note on Friday, July 6th. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Tuesday, July 3rd. Wolfe Research started coverage on shares of Fastenal in a research note on Wednesday, June 27th. They set an “underperform” rating for the company. BidaskClub cut shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Finally, Stifel Nicolaus raised their price target 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. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $57.11.
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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