Eurizon Capital SGR S.p.A. purchased a new position in shares of Fastenal Company (NASDAQ:FAST – Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 143,616 shares of the company’s stock, valued at approximately $5,767,000.
Other hedge funds also recently made changes to their positions in the company. Elyxium Wealth LLC bought a new position in shares of Fastenal during the 4th quarter worth approximately $25,000. REAP Financial Group LLC bought a new position in shares of Fastenal during the 3rd quarter worth approximately $30,000. Field & Main Bank bought a new position in shares of Fastenal during the 4th quarter worth approximately $30,000. Tucker Asset Management LLC bought a new position in shares of Fastenal during the 4th quarter worth approximately $33,000. Finally, Tradewinds Capital Management LLC bought a new position in shares of Fastenal during the 4th quarter worth approximately $35,000. 81.38% of the stock is owned by institutional investors.
Insider Transactions at Fastenal
In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the sale, the director owned 40,000 shares of the company’s stock, valued at $1,893,600. This trade represents a 48.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.28% of the stock is owned by corporate insiders.
Fastenal Trading Down 0.5%
Fastenal (NASDAQ:FAST – Get Free Report) last announced its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the firm posted $0.52 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. Research analysts forecast that Fastenal Company will post 1.23 EPS for the current year.
Fastenal Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, April 28th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.96 annualized dividend and a yield of 2.2%. Fastenal’s dividend payout ratio (DPR) is currently 84.21%.
Wall Street Analyst Weigh In
FAST has been the subject of several recent analyst reports. Morgan Stanley reissued a “positive” rating and issued a $45.00 price objective on shares of Fastenal in a report on Thursday, March 5th. Barclays increased their price objective on Fastenal from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Robert W. Baird cut their price objective on Fastenal from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, April 14th. Sanford C. Bernstein reissued an “underperform” rating and issued a $42.00 price objective on shares of Fastenal in a report on Tuesday, April 14th. Finally, Benchmark reissued a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Fastenal currently has an average rating of “Hold” and an average target price of $49.77.
View Our Latest Stock Analysis on Fastenal
About Fastenal
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
- Why These Three Big Buybacks Are Sending Very Different Signals to Investors
- Drone Stocks Soar As Pentagon Considers Funding, Including a Trump-Linked Name
- Braze Blazes Ahead on Q1 2027 Earnings Beat, Raised Guidance
- Are the 3 Newest Members of the $1 Trillion Market Cap Club the Latest Sign of an AI Bubble?
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.
