Stonebridge Capital Advisors LLC acquired a new stake in shares of Fastenal (NASDAQ:FAST) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,717 shares of the company’s stock, valued at approximately $239,000.
Other large investors have also made changes to their positions in the company. Berman Capital Advisors LLC purchased a new position in Fastenal in the fourth quarter worth $26,000. Investors Research Corp purchased a new position in Fastenal during the first quarter valued at $26,000. AdvisorNet Financial Inc increased its holdings in shares of Fastenal by 46.9% in the fourth quarter. AdvisorNet Financial Inc now owns 564 shares of the company’s stock worth $29,000 after purchasing an additional 180 shares during the last quarter. Strategy Asset Managers LLC bought a new stake in Fastenal during the first quarter worth approximately $32,000. Finally, Bremer Trust National Association purchased a new stake in shares of Fastenal in the fourth quarter valued at approximately $39,000. Institutional investors own 85.36% of the company’s stock.
FAST traded down $1.40 during trading on Friday, reaching $31.33. 53,840 shares of the company’s stock were exchanged, compared to its average volume of 4,044,099. Fastenal has a fifty-two week low of $23.68 and a fifty-two week high of $35.94. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.31 and a quick ratio of 1.97. The company has a market capitalization of $18.73 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.42 and a beta of 1.27.
Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Thursday, April 11th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34. The business 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 period in the previous year, the business posted $0.31 earnings per share. On average, equities research analysts expect that Fastenal will post 1.42 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, April 24th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $1.72 annualized dividend and a dividend yield of 5.49%. Fastenal’s payout ratio is currently 65.15%.
Several equities research analysts have commented on FAST shares. BidaskClub lowered shares of Fastenal from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 9th. Raymond James set a $39.00 price target on shares of Fastenal and gave the company a “buy” rating in a research report on Friday, April 12th. Morgan Stanley raised their price objective on shares of Fastenal from $27.50 to $31.50 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Buckingham Research set a $32.50 price target on shares of Fastenal and gave the stock a “hold” rating in a research note on Friday, April 12th. Finally, Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. Fastenal currently has a consensus rating of “Hold” and an average target price of $30.70.
In other news, CEO Daniel L. Florness sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $70.75, for a total transaction of $1,415,000.00. Following the sale, the chief executive officer now owns 109,845 shares in the company, valued at approximately $7,771,533.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sheryl Ann Lisowski sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $71.38, for a total value of $713,800.00. Following the sale, the chief accounting officer now owns 10,300 shares in the company, valued at approximately $735,214. The disclosure for this sale can be found here. Insiders have sold a total of 163,470 shares of company stock valued at $11,485,007 over the last 90 days. Corporate insiders own 0.56% of the company’s stock.
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.
Recommended Story: Correction
Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal (NASDAQ:FAST).
Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.