Integrated Advisors Network LLC grew its holdings in Fastenal (NASDAQ:FAST – Free Report) by 10.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,238 shares of the company’s stock after acquiring an additional 1,140 shares during the quarter. Integrated Advisors Network LLC’s holdings in Fastenal were worth $874,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of FAST. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Fastenal by 4.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,594,140 shares of the company’s stock worth $122,972,000 after purchasing an additional 60,689 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in shares of Fastenal by 8.7% during the first quarter. First Trust Direct Indexing L.P. now owns 15,439 shares of the company’s stock worth $1,191,000 after purchasing an additional 1,240 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Fastenal by 6.9% during the first quarter. Van ECK Associates Corp now owns 108,726 shares of the company’s stock worth $8,387,000 after purchasing an additional 7,013 shares during the period. Norden Group LLC lifted its holdings in shares of Fastenal by 57.9% during the first quarter. Norden Group LLC now owns 7,399 shares of the company’s stock worth $571,000 after purchasing an additional 2,712 shares during the period. Finally, Retirement Systems of Alabama lifted its holdings in shares of Fastenal by 0.3% during the first quarter. Retirement Systems of Alabama now owns 126,299 shares of the company’s stock worth $9,743,000 after purchasing an additional 366 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.
Insider Activity
In other news, CEO Daniel L. Florness sold 45,744 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,489,266.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at approximately $19,489,266.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,929,734.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 179,373 shares of company stock valued at $13,029,308 in the last quarter. Insiders own 0.41% of the company’s stock.
Fastenal Stock Up 0.9 %
Fastenal (NASDAQ:FAST – Get Free Report) last released its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. Equities research analysts forecast that Fastenal will post 2.03 earnings per share for the current fiscal year.
Fastenal Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on FAST shares. Stifel Nicolaus reiterated a “buy” rating and set a $86.00 price target (up from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Jefferies Financial Group reduced their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. JPMorgan Chase & Co. lifted their price target on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Bank of America started coverage on Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price target for the company. Finally, Robert W. Baird lifted their price target on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal has a consensus rating of “Hold” and an average target price of $73.33.
Read Our Latest Analysis on FAST
Fastenal Company Profile
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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