State of Tennessee Treasury Department lowered its position in Fastenal (NASDAQ:FAST) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,070 shares of the company’s stock after selling 5,277 shares during the quarter. State of Tennessee Treasury Department’s holdings in Fastenal were worth $3,771,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of FAST. Wolverine Asset Management LLC acquired a new stake in shares of Fastenal in the 4th quarter valued at about $104,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Fastenal in the 4th quarter valued at about $115,000. Signaturefd LLC acquired a new stake in shares of Fastenal in the 1st quarter valued at about $117,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Fastenal by 87.8% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,500 shares of the company’s stock valued at $135,000 after purchasing an additional 1,169 shares in the last quarter. Finally, Lucia Wealth Services LLC acquired a new stake in shares of Fastenal in the 1st quarter valued at about $143,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.
In other news, Director Stephen L. Eastman bought 700 shares of the firm’s stock in a transaction on Friday, April 27th. The stock was purchased at an average price of $50.31 per share, for a total transaction of $35,217.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider James C. Jansen sold 29,758 shares of the company’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $52.51, for a total transaction of $1,562,592.58. Following the completion of the transaction, the insider now owns 22,588 shares of the company’s stock, valued at approximately $1,186,095.88. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 4,155 shares of company stock valued at $211,378. Insiders own 0.56% of the company’s stock.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, April 11th. The company reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. Fastenal had a net margin of 13.66% and a return on equity of 28.69%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. equities analysts expect that Fastenal will post 2.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 23rd. Investors of record on Wednesday, April 25th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Tuesday, April 24th. Fastenal’s dividend payout ratio is presently 76.68%.
A number of brokerages have recently issued reports on FAST. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Tuesday, April 3rd. BidaskClub lowered shares of Fastenal from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 13th. KeyCorp restated a “buy” rating on shares of Fastenal in a research note on Friday, April 13th. BMO Capital Markets restated a “hold” rating and issued a $57.00 target price on shares of Fastenal in a research note on Monday, April 9th. Finally, Robert W. Baird restated a “buy” rating and issued a $57.00 target price on shares of Fastenal in a research note on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Fastenal has a consensus rating of “Buy” and an average price target of $54.67.
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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