TCW Group Inc. reduced its stake in shares of Fastenal (NASDAQ:FAST) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,680,519 shares of the company’s stock after selling 118,949 shares during the period. TCW Group Inc. owned approximately 0.58% of Fastenal worth $91,908,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. QS Investors LLC lifted its position in Fastenal by 1.6% during the second quarter. QS Investors LLC now owns 4,051 shares of the company’s stock valued at $176,000 after purchasing an additional 63 shares during the period. Sentry Investment Management LLC lifted its position in Fastenal by 1.4% during the second quarter. Sentry Investment Management LLC now owns 16,380 shares of the company’s stock valued at $713,000 after purchasing an additional 230 shares during the period. Advisory Services Network LLC lifted its position in Fastenal by 14.1% during the second quarter. Advisory Services Network LLC now owns 4,223 shares of the company’s stock valued at $184,000 after purchasing an additional 522 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Fastenal by 6.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 16,833 shares of the company’s stock valued at $921,000 after purchasing an additional 1,023 shares during the period. Finally, Cullinan Associates Inc. lifted its position in Fastenal by 0.9% during the fourth quarter. Cullinan Associates Inc. now owns 116,001 shares of the company’s stock valued at $6,344,000 after purchasing an additional 1,050 shares during the period. Institutional investors and hedge funds own 85.00% of the company’s stock.
In other news, insider William Joseph Drazkowski sold 7,500 shares of the business’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $56.64, for a total transaction of $424,800.00. Following the completion of the sale, the insider now owns 9,460 shares of the company’s stock, valued at $535,814.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles S. Miller sold 26,250 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $56.50, for a total transaction 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 have sold 36,384 shares of company stock valued at $2,048,712 in the last three months. Corporate insiders own 0.56% of the company’s stock.
A number of research firms recently issued reports on FAST. Robert W. Baird restated a “buy” rating and set a $57.00 target price on shares of Fastenal in a research report on Tuesday, March 6th. Northcoast Research set a $60.00 target price on shares of Fastenal and gave the company a “buy” rating in a research report on Friday, March 2nd. BMO Capital Markets restated a “hold” rating and set a $57.00 target price on shares of Fastenal in a research report on Tuesday, January 9th. Zacks Investment Research downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $61.00 price objective (up previously from $52.00) on shares of Fastenal in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $54.00.
Fastenal (NASDAQ FAST) opened at $57.76 on Wednesday. The firm has a market cap of $16,628.91, a PE ratio of 28.74, a price-to-earnings-growth ratio of 1.65 and a beta of 0.99. Fastenal has a 1 year low of $39.79 and a 1 year high of $58.46. 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, hitting analysts’ consensus estimates of $0.45. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 earnings per share. sell-side analysts expect that Fastenal will post 2.5 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Wednesday, January 31st were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost from Fastenal’s previous quarterly dividend of $0.32. Fastenal’s payout ratio is currently 73.63%.
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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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