TCW Group Inc. lessened its stake in shares of Fastenal Company (NASDAQ:FAST) by 11.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,799,468 shares of the company’s stock after selling 230,449 shares during the quarter. TCW Group Inc. owned about 0.63% of Fastenal worth $82,020,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Fastenal by 3.1% during the second quarter. Vanguard Group Inc. now owns 31,573,149 shares of the company’s stock valued at $1,374,380,000 after acquiring an additional 943,262 shares during the period. BlackRock Inc. increased its stake in shares of Fastenal by 1.9% during the second quarter. BlackRock Inc. now owns 17,796,450 shares of the company’s stock valued at $774,680,000 after acquiring an additional 336,893 shares during the period. Principal Financial Group Inc. increased its stake in shares of Fastenal by 5.1% during the second quarter. Principal Financial Group Inc. now owns 2,494,090 shares of the company’s stock valued at $108,567,000 after acquiring an additional 121,909 shares during the period. Mcdonald Capital Investors Inc. CA increased its stake in shares of Fastenal by 4.7% during the third quarter. Mcdonald Capital Investors Inc. CA now owns 2,285,396 shares of the company’s stock valued at $104,168,000 after acquiring an additional 103,147 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Fastenal by 60.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,076,097 shares of the company’s stock valued at $90,372,000 after acquiring an additional 781,071 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.
Fastenal Company (NASDAQ FAST) traded down $0.36 during trading on Tuesday, reaching $47.23. 1,741,300 shares of the company were exchanged, compared to its average volume of 2,843,943. Fastenal Company has a 1 year low of $39.79 and a 1 year high of $52.74. The company has a quick ratio of 2.45, a current ratio of 5.36 and a debt-to-equity ratio of 0.21. The firm has a market cap of $13,676.91, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 1.76 and a beta of 1.06.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business posted $0.44 EPS. The company’s revenue was up 11.8% on a year-over-year basis. equities analysts expect that Fastenal Company will post 1.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, October 25th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Tuesday, October 24th. Fastenal’s dividend payout ratio is 68.09%.
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A number of research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Thursday, August 3rd. Northcoast Research reiterated a “buy” rating on shares of Fastenal in a research note on Friday, August 4th. BMO Capital Markets reiterated a “market perform” rating and set a $51.00 price objective (up previously from $46.00) on shares of Fastenal in a research note on Tuesday, October 10th. KeyCorp reiterated a “buy” rating and set a $52.00 price objective on shares of Fastenal in a research note on Thursday, October 12th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $46.00 price objective on shares of Fastenal in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $50.80.
In related news, Director Stephen L. Eastman bought 800 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was bought at an average price of $40.58 per share, with a total value of $32,464.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Leland J. Hein sold 10,000 shares of Fastenal stock in a transaction on Monday, November 6th. The shares were sold at an average price of $48.00, for a total transaction of $480,000.00. Following the sale, the vice president now directly owns 20,258 shares of the company’s stock, valued at approximately $972,384. The disclosure for this sale can be found here. Insiders sold a total of 30,112 shares of company stock valued at $1,444,232 in the last ninety days. Company insiders own 0.55% of the company’s stock.
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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