TCW Group Inc. lowered its position in Fastenal (NASDAQ:FAST) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,680,519 shares of the company’s stock after selling 118,949 shares during the period. TCW Group Inc. owned 0.58% of Fastenal worth $91,908,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Exane Derivatives bought a new position in shares of Fastenal in the fourth quarter valued at approximately $110,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Fastenal in the third quarter valued at approximately $114,000. SeaCrest Wealth Management LLC bought a new position in shares of Fastenal in the fourth quarter valued at approximately $115,000. Cable Hill Partners LLC bought a new position in shares of Fastenal in the third quarter valued at approximately $126,000. Finally, QS Investors LLC lifted 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 valued at $176,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 85.00% of the company’s stock.
FAST has been the topic of a number of recent research reports. Stifel Nicolaus restated a “hold” rating and issued a $51.00 target price on shares of Fastenal in a report on Monday, December 11th. Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Tuesday, December 26th. Credit Suisse Group restated an “outperform” rating and issued a $61.00 target price (up previously from $52.00) on shares of Fastenal in a report on Tuesday, January 9th. BMO Capital Markets restated a “hold” rating and issued a $57.00 target price on shares of Fastenal in a report on Tuesday, January 9th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Fastenal in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $54.00.
In other Fastenal news, insider Charles S. Miller sold 26,250 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $56.50, for a total value of $1,483,125.00. Following the completion of the sale, the insider now directly owns 26,250 shares of the company’s stock, valued at $1,483,125. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Joseph Drazkowski sold 7,500 shares of Fastenal stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $56.64, for a total value of $424,800.00. Following the completion of the transaction, the insider now owns 9,460 shares of the company’s stock, valued at $535,814.40. The disclosure for this sale can be found here. Insiders sold 36,384 shares of company stock valued at $2,048,712 over the last three months. Company insiders own 0.56% of the company’s stock.
Shares of Fastenal (NASDAQ FAST) opened at $57.76 on Wednesday. The company has a current ratio of 5.51, a quick ratio of 2.40 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $16,628.91, a P/E ratio of 28.74, a P/E/G ratio of 1.65 and a beta of 0.99. Fastenal has a 52-week low of $39.79 and a 52-week high of $58.46.
Fastenal (NASDAQ:FAST) last released its earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.45. Fastenal had a return on equity of 27.39% and a net margin of 13.18%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the business posted $0.40 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. research analysts anticipate that Fastenal will post 2.5 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Wednesday, January 31st were given a $0.37 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.32. This represents a $1.48 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Tuesday, January 30th. Fastenal’s dividend payout ratio (DPR) is currently 73.63%.
Fastenal Company Profile
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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