DekaBank Deutsche Girozentrale lifted its holdings in shares of Fastenal (NASDAQ:FAST) by 18.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,189 shares of the company’s stock after buying an additional 4,858 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Fastenal were worth $1,757,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Squar Milner Financial Services LLC acquired a new position in Fastenal during the fourth quarter valued at approximately $202,000. Norinchukin Bank The grew its holdings in Fastenal by 6.9% during the fourth quarter. Norinchukin Bank The now owns 23,968 shares of the company’s stock valued at $1,311,000 after purchasing an additional 1,543 shares during the period. Univest Corp of Pennsylvania acquired a new position in Fastenal during the fourth quarter valued at approximately $372,000. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in Fastenal by 60.3% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 14,361 shares of the company’s stock valued at $785,000 after purchasing an additional 5,400 shares during the period. Finally, Reik & CO. LLC grew its holdings in Fastenal by 17.2% during the fourth quarter. Reik & CO. LLC now owns 8,190 shares of the company’s stock valued at $448,000 after purchasing an additional 1,200 shares during the period. Institutional investors own 84.79% of the company’s stock.
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Shares of Fastenal opened at $53.02 on Thursday, according to MarketBeat. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.30 and a current ratio of 5.11. Fastenal has a twelve month low of $52.38 and a twelve month high of $52.89. The company has a market capitalization of $14.90 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 1.48 and a beta of 1.01.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Wednesday, April 11th. The company reported $0.61 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.61. Fastenal had a net margin of 13.66% and a return on equity of 28.69%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The business’s revenue was up 13.2% on a year-over-year basis. analysts anticipate that Fastenal will post 2.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 23rd. Shareholders of record on Wednesday, April 25th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Tuesday, April 24th. Fastenal’s payout ratio is currently 76.68%.
A number of research analysts recently issued reports on the stock. BidaskClub cut shares of Fastenal from a “buy” rating to a “hold” rating in a report on Friday, May 11th. KeyCorp restated a “buy” rating on shares of Fastenal in a report on Friday, April 13th. Zacks Investment Research cut shares of Fastenal from a “buy” rating to a “hold” rating in a report on Friday, April 13th. Wells Fargo set a $49.00 price objective on shares of Fastenal and gave the company a “hold” rating in a report on Thursday, April 12th. Finally, Stephens restated a “buy” rating and set a $60.00 price objective on shares of Fastenal in a report on Wednesday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $54.07.
In other Fastenal news, Director Stephen L. Eastman acquired 700 shares of the business’s stock in a transaction dated Friday, April 27th. The shares were acquired at an average price of $50.31 per share, with a total value of $35,217.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Joseph Drazkowski sold 7,500 shares of the business’s stock in a transaction on Tuesday, March 6th. The stock was 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 directly owns 9,460 shares in the company, valued at approximately $535,814.40. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 2,155 shares of company stock worth $107,678. 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.