Raymond James Financial Services Advisors Inc. Acquires 155,751 Shares of Fastenal (FAST)

Raymond James Financial Services Advisors Inc. raised its holdings in Fastenal (NASDAQ:FAST) by 116.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 289,402 shares of the company’s stock after purchasing an additional 155,751 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.10% of Fastenal worth $15,827,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Korea Investment CORP increased its stake in shares of Fastenal by 62.5% in the third quarter. Korea Investment CORP now owns 76,983 shares of the company’s stock worth $3,509,000 after purchasing an additional 29,600 shares in the last quarter. Beacon Investment Advisory Services Inc. purchased a new position in shares of Fastenal in the third quarter worth about $303,000. Squar Milner Financial Services LLC purchased a new position in shares of Fastenal in the fourth quarter worth about $202,000. Griffin Asset Management Inc. purchased a new position in shares of Fastenal in the third quarter worth about $550,000. Finally, Mcdonald Capital Investors Inc. CA increased its stake in shares of Fastenal by 4.7% in the third quarter. Mcdonald Capital Investors Inc. CA now owns 2,285,396 shares of the company’s stock worth $104,168,000 after purchasing an additional 103,147 shares in the last quarter. Hedge funds and other institutional investors own 85.08% of the company’s stock.

In other Fastenal news, insider Gary A. Polipnick sold 2,634 shares of Fastenal stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $53.45, for a total transaction of $140,787.30. Following the completion of the sale, the insider now directly owns 59,323 shares in the company, valued at $3,170,814.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James C. Jansen sold 10,000 shares of Fastenal stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $48.50, for a total transaction of $485,000.00. Following the sale, the insider now owns 22,588 shares of the company’s stock, valued at $1,095,518. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,884 shares of company stock valued at $2,618,912. 0.55% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on the stock. BMO Capital Markets reiterated a “hold” rating and issued a $57.00 target price on shares of Fastenal in a research note on Tuesday, January 9th. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Tuesday, December 26th. Credit Suisse Group raised shares of Fastenal to a “buy” rating and set a $61.00 price objective for the company in a research note on Thursday, January 18th. Robert W. Baird reaffirmed a “buy” rating on shares of Fastenal in a research note on Wednesday, January 17th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $51.00 price objective on shares of Fastenal in a research note on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Fastenal currently has a consensus rating of “Buy” and an average price target of $53.29.

Fastenal (NASDAQ FAST) opened at $54.75 on Monday. The company has a market cap of $15,746.31, a P/E ratio of 28.37, a P/E/G ratio of 1.56 and a beta of 1.03. Fastenal has a 12 month low of $39.79 and a 12 month high of $57.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.40 and a current ratio of 5.51.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, January 17th. The company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company earned $0.40 earnings per share. Fastenal’s revenue for the quarter was up 14.8% on a year-over-year basis. equities analysts forecast that Fastenal will post 2.5 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Wednesday, January 31st will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This is a positive change from Fastenal’s previous quarterly dividend of $0.32. This represents a $1.48 annualized dividend and a yield of 2.70%. Fastenal’s payout ratio is presently 73.63%.

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Fastenal 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.

Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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