AE Wealth Management LLC reduced its position in Fastenal (NASDAQ:FAST – Get Rating) by 8.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 22,801 shares of the company’s stock after selling 2,055 shares during the period. AE Wealth Management LLC’s holdings in Fastenal were worth $1,354,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Koshinski Asset Management Inc. its raised position in shares of Fastenal by 4.4% in the 4th quarter. Koshinski Asset Management Inc. Now owns 4,115 shares of the company’s stock worth $264,000 after buying an additional 175 shares during the period. PFG Private Wealth Management LLC raised its position in shares of Fastenal by 13.2% in the 4th quarter. PFG Private Wealth Management LLC now owns 1,728 shares of the company’s stock worth $111,000 after buying an additional 201 shares during the period. Arlington Partners LLC raised its position in shares of Fastenal by 8.6% in the 4th quarter. Arlington Partners LLC now owns 2,615 shares of the company’s stock worth $168,000 after buying an additional 206 during the period. Tokio Marine Asset Management Co. Ltd. its raised position in shares of Fastenal by 5.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. Now owns 4,215 shares of the company’s stock worth $270,000 after buying an additional 218 during the period. Finally, Kestra Advisory Services LLC raised its position in Fastenal by 1.2% in the fourth quarter. Kestra Advisory Services LLC now owns 18,214 shares of the company’s stock valued at $1,167,000 after purchasing an additional 222 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fastenal stock opened at $49.67 on Wednesday. The business has a 50-day moving average of $52.22 and a 200-day moving average of $55.34. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.07 and a quick ratio of 1.92. The company has a market capitalization of $28.59 billion, a PE ratio of 29.05, a P/E/G ratio of 2.94 and a beta of 1.27. Fastenal has a 1-year low of $48.10 and a 1-year high of $64.75.
Fastenal (NASDAQ:FAST – Get Rating) last announced its earnings results on Wednesday, April 13th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.03. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.69 billion. Fastenal had a return on equity of 32.72% and a net margin of 15.63%. The company’s revenue was up 20.3% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. On average, equities analysts expect that Fastenal will post 1.88 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 25th. Stockholders of record on Wednesday, April 27th were paid a dividend of $0.31 per share. The ex-dividend date was Tuesday, April 26th. This represents a $1.24 annualized dividend and a dividend yield of 2.50%. Fastenal’s dividend payout ratio is presently 72.52%.
In other news, Director Michael J. Ancius purchased 650 shares of the firm’s stock in a transaction that occurred on Thursday, April 14th. The stock was acquired at an average cost of $56.41 per share, for a total transaction of $36,666.50. Following the completion of the purchase, the director now owns 25,952 shares of the company’s stock, valued at $1,463,952.32. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Ancius purchased 678 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The stock was purchased at an average price of $49.18 per share, with a total value of $33,344.04. Following the completion of the purchase, the director now directly owns 28,265 shares of the company’s stock, valued at approximately $1,390,072.70. The disclosure for this purchase can be found here. Insiders have bought 3,563 shares of company stock valued at $182,773 over the last 90 days. Insiders own 0.40% of the company’s stock.
Several research analysts have commented on the company. StockNews.com raised Fastenal from a “hold” rating to a “buy” rating in a research report on Saturday, June 4th. Morgan Stanley raised their objective price on Fastenal from $53.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday, April 14th. Finally, Wells Fargo & Company raised their objective price on Fastenal from $58.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, April 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $60.80.
About Fastenal (Get Rating)
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, 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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