Bokf Na reduced its holdings in Fastenal (NASDAQ:FAST) by 39.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,566 shares of the company’s stock after selling 9,932 shares during the period. Bokf Na’s holdings in Fastenal were worth $814,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of FAST. AdvisorNet Financial Inc boosted its stake in shares of Fastenal by 46.9% in the fourth quarter. AdvisorNet Financial Inc now owns 564 shares of the company’s stock worth $29,000 after acquiring an additional 180 shares during the last quarter. Utah Retirement Systems boosted its stake in shares of Fastenal by 0.4% in the fourth quarter. Utah Retirement Systems now owns 53,540 shares of the company’s stock worth $2,800,000 after acquiring an additional 200 shares during the last quarter. Telemus Capital LLC boosted its stake in shares of Fastenal by 1.0% in the fourth quarter. Telemus Capital LLC now owns 20,641 shares of the company’s stock worth $1,079,000 after acquiring an additional 211 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Fastenal by 0.8% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 26,046 shares of the company’s stock worth $1,362,000 after acquiring an additional 216 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Fastenal by 17.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,609 shares of the company’s stock worth $84,000 after acquiring an additional 241 shares during the last quarter. 85.54% of the stock is currently owned by institutional investors.
In other Fastenal news, insider Leland J. Hein sold 39,583 shares of Fastenal stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $62.86, for a total value of $2,488,187.38. Following the sale, the insider now owns 22,611 shares in the company, valued at $1,421,327.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas J. Lundquist sold 5,000 shares of Fastenal stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $60.51, for a total value of $302,550.00. Following the completion of the sale, the insider now owns 216,000 shares in the company, valued at approximately $13,070,160. The disclosure for this sale can be found here. Insiders have sold 87,083 shares of company stock worth $5,458,662 in the last three months. 0.62% of the stock is currently owned by corporate insiders.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Thursday, January 17th. The company reported $0.60 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.60. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.22 billion. Fastenal had a return on equity of 33.48% and a net margin of 15.14%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. Equities analysts anticipate that Fastenal will post 2.84 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 27th. Shareholders of record on Thursday, January 31st were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Wednesday, January 30th. This represents a $1.72 dividend on an annualized basis and a yield of 2.75%. This is a positive change from Fastenal’s previous quarterly dividend of $0.40. Fastenal’s payout ratio is 65.40%.
FAST has been the topic of a number of research analyst reports. Zacks Investment Research raised Fastenal from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Wednesday, January 23rd. ValuEngine raised Fastenal from a “hold” rating to a “buy” rating in a research note on Thursday, January 17th. Longbow Research raised Fastenal from a “neutral” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Tuesday, December 4th. They noted that the move was a valuation call. BidaskClub lowered Fastenal from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 20th. Finally, Morgan Stanley assumed coverage on Fastenal in a research note on Tuesday, December 18th. They set an “equal weight” rating and a $55.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. Fastenal currently has a consensus rating of “Hold” and an average target price of $57.70.
Fastenal Company Profile
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.
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