Global X MANAGEMENT CO LLC lifted its stake in Fastenal Company (NASDAQ:FAST) by 19.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,361 shares of the company’s stock after acquiring an additional 2,213 shares during the quarter. Global X MANAGEMENT CO LLC’s holdings in Fastenal were worth $609,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of FAST. Fox Run Management L.L.C. acquired a new position in shares of Fastenal in the 2nd quarter worth approximately $257,000. Bank of Montreal Can lifted its holdings in shares of Fastenal by 4.2% in the 2nd quarter. Bank of Montreal Can now owns 240,518 shares of the company’s stock worth $10,471,000 after acquiring an additional 9,797 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Fastenal by 13.4% in the 2nd quarter. CENTRAL TRUST Co now owns 3,665 shares of the company’s stock worth $159,000 after acquiring an additional 433 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Fastenal by 5.3% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 73,440 shares of the company’s stock worth $3,197,000 after acquiring an additional 3,700 shares during the last quarter. Finally, LS Investment Advisors LLC lifted its holdings in shares of Fastenal by 6.3% in the 2nd quarter. LS Investment Advisors LLC now owns 16,284 shares of the company’s stock worth $709,000 after acquiring an additional 965 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.
In other news, Director Stephen L. Eastman acquired 800 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were bought at an average cost of $40.58 per share, with a total value of $32,464.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Terry Modock Owen sold 30,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total transaction of $1,440,600.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,112 shares of company stock worth $2,884,832. Insiders own 0.55% of the company’s stock.
Shares of Fastenal Company (FAST) opened at $48.47 on Friday. Fastenal Company has a 52-week low of $39.79 and a 52-week high of $52.74. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.36 and a quick ratio of 2.45. The company has a market cap of $13,890.00, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 1.76 and a beta of 1.06.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.50. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the firm posted $0.44 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. equities research analysts anticipate that Fastenal Company will post 1.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Tuesday, October 24th. Fastenal’s dividend payout ratio is presently 68.09%.
FAST has been the topic of several recent analyst reports. KeyCorp restated a “buy” rating and issued a $52.00 price objective on shares of Fastenal in a report on Thursday, October 12th. Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating in a report on Monday, July 31st. BidaskClub lowered shares of Fastenal from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. BMO Capital Markets reiterated a “hold” rating and set a $46.00 target price on shares of Fastenal in a report on Monday, August 21st. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $46.00 target price (up from $44.00) on shares of Fastenal in a report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Fastenal has an average rating of “Buy” and an average target price of $50.80.
Fastenal Company Profile
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.
Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal Company (NASDAQ:FAST).
Receive News & Ratings for Fastenal Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal Company and related companies with MarketBeat.com's FREE daily email newsletter.