Teacher Retirement System of Texas acquired a new position in shares of Fastenal (NASDAQ:FAST) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 87,033 shares of the company’s stock, valued at approximately $4,760,000.
Other hedge funds have also recently modified their holdings of the company. Exane Derivatives acquired a new position in shares of Fastenal in the fourth quarter worth $110,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Fastenal in the third quarter worth $114,000. SeaCrest Wealth Management LLC acquired a new position in shares of Fastenal in the fourth quarter worth $115,000. Cable Hill Partners LLC acquired a new position in shares of Fastenal in the third quarter worth $126,000. Finally, QS Investors LLC raised its holdings in shares of Fastenal by 1.6% in the second quarter. QS Investors LLC now owns 4,051 shares of the company’s stock worth $176,000 after acquiring an additional 63 shares during the last quarter. 84.23% of the stock is owned by hedge funds and other institutional investors.
In other Fastenal news, insider James C. Jansen sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $48.50, for a total transaction of $485,000.00. Following the completion of the sale, the insider now owns 22,588 shares of the company’s stock, valued at $1,095,518. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charles S. Miller sold 26,250 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $56.50, for a total value of $1,483,125.00. Following the sale, the insider now directly owns 26,250 shares of the company’s stock, valued at approximately $1,483,125. The disclosure for this sale can be found here. Insiders sold 48,884 shares of company stock valued at $2,618,912 over the last quarter. Insiders own 0.55% of the company’s stock.
Fastenal (NASDAQ:FAST) opened at $54.75 on Friday. The company has a market capitalization of $16,010.91, a price-to-earnings ratio of 28.84, a P/E/G ratio of 1.59 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 current ratio of 5.51 and a quick ratio of 2.40.
Fastenal (NASDAQ:FAST) last released its earnings results on Wednesday, January 17th. The company reported $0.45 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. Fastenal had a return on equity of 27.39% and a net margin of 13.18%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 earnings per share. equities analysts predict that Fastenal will post 2.5 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Wednesday, January 31st will be paid a $0.37 dividend. 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%. The ex-dividend date is Tuesday, January 30th. Fastenal’s dividend payout ratio is presently 73.63%.
A number of equities analysts have recently weighed in on the company. BMO Capital Markets reissued a “hold” rating and issued a $57.00 price target on shares of Fastenal in a report on Tuesday, January 9th. Robert W. Baird reissued a “buy” rating on shares of Fastenal in a report on Wednesday, January 17th. Zacks Investment Research cut Fastenal from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Credit Suisse Group reissued an “outperform” rating and issued a $61.00 price target (up from $52.00) on shares of Fastenal in a report on Tuesday, January 9th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $51.00 price target on shares of Fastenal in a report on Monday, December 11th. One 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 assigned a strong buy rating to the company’s stock. Fastenal currently has a consensus rating of “Buy” and a consensus price target of $53.29.
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.
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