Dorsey & Whitney Trust CO LLC lifted its position in Fastenal (NASDAQ:FAST) by 3.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 120,200 shares of the company’s stock after purchasing an additional 4,127 shares during the period. Fastenal makes up about 1.2% of Dorsey & Whitney Trust CO LLC’s holdings, making the stock its 23rd largest holding. Dorsey & Whitney Trust CO LLC’s holdings in Fastenal were worth $6,574,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Exane Derivatives acquired a new stake in shares of Fastenal in the fourth quarter worth $110,000. Fuller & Thaler Asset Management Inc. bought a new position in Fastenal during the third quarter worth $114,000. SeaCrest Wealth Management LLC bought a new position in Fastenal during the fourth quarter worth $115,000. Dearborn Partners LLC bought a new position in Fastenal during the third quarter worth $200,000. Finally, Stonebridge Capital Advisors LLC bought a new position in Fastenal during the third quarter worth $201,000. Institutional investors and hedge funds own 85.08% of the company’s stock.
A number of brokerages recently issued reports on FAST. BMO Capital Markets reaffirmed a “hold” rating and set a $57.00 target price on shares of Fastenal in a research report on Tuesday, January 9th. Robert W. Baird reaffirmed a “buy” rating on shares of Fastenal in a research report on Wednesday, January 17th. Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Credit Suisse Group reaffirmed an “outperform” rating and set a $61.00 target price (up previously from $52.00) on shares of Fastenal in a research report on Tuesday, January 9th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $51.00 target price on shares of Fastenal in a research report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Fastenal has an average rating of “Buy” and a consensus target price of $53.29.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. equities research analysts forecast that Fastenal will post 2.5 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Wednesday, January 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.70%. The ex-dividend date was Tuesday, January 30th. This is a positive change from Fastenal’s previous quarterly dividend of $0.32. Fastenal’s payout ratio is 73.63%.
In other Fastenal news, insider Charles S. Miller sold 26,250 shares of the business’s stock in a transaction on 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 owns 26,250 shares of the company’s stock, valued at approximately $1,483,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gary A. Polipnick sold 2,634 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $53.45, for a total transaction of $140,787.30. Following the completion of the sale, the insider now directly owns 59,323 shares in the company, valued at approximately $3,170,814.35. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.
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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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