Livingston Group Asset Management CO operating as Southport Capital Management trimmed its position in shares of Fastenal (NASDAQ:FAST) by 5.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,207 shares of the company’s stock after selling 545 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Fastenal were worth $592,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Berman Capital Advisors LLC bought a new stake in shares of Fastenal during the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc boosted its holdings in Fastenal by 46.9% in the fourth quarter. AdvisorNet Financial Inc now owns 564 shares of the company’s stock worth $29,000 after acquiring an additional 180 shares in the last quarter. Avestar Capital LLC boosted its holdings in Fastenal by 3,163.2% in the fourth quarter. Avestar Capital LLC now owns 620 shares of the company’s stock worth $30,000 after acquiring an additional 601 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in Fastenal in the fourth quarter worth $39,000. Finally, Bremer Trust National Association bought a new stake in Fastenal in the fourth quarter worth $39,000. 86.57% of the stock is currently owned by institutional investors.
Several equities research analysts have commented on the company. Zacks Investment Research downgraded Fastenal from a “buy” rating to a “hold” rating in a report on Wednesday. Buckingham Research upped their price target on Fastenal from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, April 8th. ValuEngine raised Fastenal from a “hold” rating to a “buy” rating in a report on Thursday, January 17th. Northcoast Research downgraded Fastenal from a “buy” rating to a “neutral” rating in a report on Monday. They noted that the move was a valuation call. Finally, BidaskClub raised Fastenal from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $61.70.
Shares of NASDAQ:FAST traded up $0.36 during midday trading on Wednesday, reaching $69.88. 680,071 shares of the company’s stock traded hands, compared to its average volume of 1,925,069. The company has a market cap of $19.68 billion, a P/E ratio of 26.57, a PEG ratio of 1.51 and a beta of 1.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.31 and a quick ratio of 1.97. Fastenal has a one year low of $47.37 and a one year high of $69.88.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Thursday, April 11th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Fastenal had a return on equity of 33.52% and a net margin of 15.16%. During the same quarter in the prior year, the business earned $0.61 earnings per share. On average, sell-side analysts anticipate that Fastenal will post 2.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, April 24th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, April 23rd. Fastenal’s dividend payout ratio (DPR) is presently 65.40%.
In related news, insider Leland J. Hein sold 22,500 shares of the company’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $63.13, for a total transaction of $1,420,425.00. Following the completion of the sale, the insider now owns 30,111 shares in the company, valued at $1,900,907.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Leland J. Hein sold 39,583 shares of the company’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $62.86, for a total value of $2,488,187.38. Following the sale, the insider now owns 22,611 shares of the company’s stock, valued at approximately $1,421,327.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,083 shares of company stock valued at $5,458,662. 0.62% of the stock is owned by company insiders.
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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