Quantitative Systematic Strategies LLC bought a new stake in shares of Fastenal (NASDAQ:FAST) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,521 shares of the company’s stock, valued at approximately $521,000.
A number of other institutional investors have also recently bought and sold shares of the business. Kornitzer Capital Management Inc. KS acquired a new position in Fastenal during the 4th quarter valued at about $221,000. Dean Capital Investments Management LLC acquired a new position in Fastenal during the 4th quarter valued at about $634,000. Reik & CO. LLC lifted its stake in shares of Fastenal by 17.2% in the 4th quarter. Reik & CO. LLC now owns 8,190 shares of the company’s stock worth $448,000 after acquiring an additional 1,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Fastenal by 16.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,029 shares of the company’s stock worth $4,322,000 after acquiring an additional 10,919 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Fastenal by 6.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 16,833 shares of the company’s stock worth $921,000 after acquiring an additional 1,023 shares during the period. 84.40% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Gary A. Polipnick sold 2,634 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $53.45, for a total value of $140,787.30. Following the sale, the insider now directly owns 59,323 shares in the company, valued at approximately $3,170,814.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles S. Miller sold 26,250 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the completion of the sale, the insider now owns 26,250 shares in the company, valued at $1,483,125. The disclosure for this sale can be found here. Insiders sold a total of 78,996 shares of company stock worth $4,064,944 over the last quarter. Insiders own 0.55% of the company’s stock.
Shares of Fastenal (NASDAQ FAST) opened at $52.06 on Tuesday. The company has a quick ratio of 2.40, a current ratio of 5.51 and a debt-to-equity ratio of 0.20. Fastenal has a fifty-two week low of $39.79 and a fifty-two week high of $57.81. The company has a market cap of $15,403.41, a P/E ratio of 27.75, a P/E/G ratio of 1.55 and a beta of 1.03.
Fastenal (NASDAQ:FAST) last released its earnings results on Wednesday, January 17th. The company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm earned $0.40 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. analysts predict that Fastenal will post 2.46 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Wednesday, January 31st will be issued a $0.37 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.32. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Tuesday, January 30th. Fastenal’s payout ratio is presently 73.63%.
A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $61.00 price target (up from $52.00) on shares of Fastenal in a research note on Tuesday, January 9th. BMO Capital Markets reaffirmed a “hold” rating and issued a $57.00 price target on shares of Fastenal in a research note on Tuesday, January 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $51.00 price target on shares of Fastenal in a research note on Monday, December 11th. Finally, Stephens upped their price target on shares of Fastenal from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. 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 assigned a strong buy rating to the company’s stock. Fastenal currently has a consensus rating of “Buy” and an average price target of $53.29.
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Fastenal Company Profile
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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