Madison Asset Management LLC grew its holdings in Fastenal Company (NASDAQ:FAST – Free Report) by 46.3% during the 4th quarter, HoldingsChannel reports. The firm owned 363,279 shares of the company’s stock after acquiring an additional 115,045 shares during the quarter. Madison Asset Management LLC’s holdings in Fastenal were worth $14,578,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Atlantic Union Bankshares Corp grew its position in shares of Fastenal by 6.9% in the fourth quarter. Atlantic Union Bankshares Corp now owns 6,344 shares of the company’s stock valued at $255,000 after purchasing an additional 410 shares during the last quarter. Meridian Wealth Management LLC boosted its position in shares of Fastenal by 13.9% in the fourth quarter. Meridian Wealth Management LLC now owns 41,567 shares of the company’s stock valued at $1,668,000 after acquiring an additional 5,081 shares during the period. Bailard Inc. boosted its position in shares of Fastenal by 11.0% in the fourth quarter. Bailard Inc. now owns 38,447 shares of the company’s stock valued at $1,543,000 after acquiring an additional 3,799 shares during the period. ABC Arbitrage SA bought a new stake in shares of Fastenal in the fourth quarter valued at approximately $381,000. Finally, AG2R LA Mondiale Gestion D Actifs boosted its position in shares of Fastenal by 19.1% in the fourth quarter. AG2R LA Mondiale Gestion D Actifs now owns 53,836 shares of the company’s stock valued at $2,160,000 after acquiring an additional 8,618 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Fastenal
In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total value of $1,747,792.80. Following the transaction, the director directly owned 40,000 shares of the company’s stock, valued at approximately $1,893,600. This trade represents a 48.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.28% of the company’s stock.
Analyst Upgrades and Downgrades
View Our Latest Analysis on Fastenal
Fastenal Stock Up 0.0%
NASDAQ FAST opened at $43.32 on Wednesday. The stock’s 50 day simple moving average is $45.52 and its 200 day simple moving average is $43.63. The firm has a market cap of $49.73 billion, a PE ratio of 38.00, a price-to-earnings-growth ratio of 2.76 and a beta of 0.75. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 2.34. Fastenal Company has a one year low of $38.97 and a one year high of $50.63.
Fastenal (NASDAQ:FAST – Get Free Report) last posted its quarterly earnings data on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. Fastenal’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 EPS. As a group, sell-side analysts forecast that Fastenal Company will post 1.23 earnings per share for the current fiscal year.
Fastenal Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, April 28th. Fastenal’s dividend payout ratio (DPR) is presently 84.21%.
Fastenal Company Profile
Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.
Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.
Featured Articles
- Five stocks we like better than Fastenal
- Navy Catalyst Ignites Odysight’s Growth Engine
- AST SpaceMobile Plummets on Galactic Q1 Miss: Can Vertical Integration Save the SpaceX Rival?
- Axon Surged After Earnings and Is Still Down Over 50% From Highs
- The Event That Could Redefine Apple’s Summer Rally
Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal Company (NASDAQ:FAST – Free Report).
Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.
