Pacer Advisors Inc. reduced its holdings in Fastenal Company (NASDAQ:FAST – Free Report) by 41.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,690 shares of the company’s stock after selling 78,634 shares during the period. Pacer Advisors Inc.’s holdings in Fastenal were worth $5,229,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Integrated Wealth Concepts LLC grew its stake in shares of Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after acquiring an additional 147 shares during the last quarter. Tandem Investment Advisors Inc. raised its stake in Fastenal by 1.8% during the 1st quarter. Tandem Investment Advisors Inc. now owns 12,356 shares of the company’s stock valued at $573,000 after purchasing an additional 224 shares during the last quarter. Sittner & Nelson LLC boosted its holdings in Fastenal by 0.3% in the 4th quarter. Sittner & Nelson LLC now owns 68,495 shares of the company’s stock valued at $2,749,000 after purchasing an additional 226 shares during the period. Founders Capital Management LLC boosted its holdings in Fastenal by 2.2% in the 4th quarter. Founders Capital Management LLC now owns 10,428 shares of the company’s stock valued at $418,000 after purchasing an additional 228 shares during the period. Finally, Sound Income Strategies LLC grew its position in Fastenal by 12.9% in the 1st quarter. Sound Income Strategies LLC now owns 2,025 shares of the company’s stock worth $94,000 after purchasing an additional 232 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Fastenal news, Director Michael J. Ancius sold 3,000 shares of Fastenal stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total value of $147,000.00. Following the completion of the transaction, the director owned 58,690 shares in the company, valued at approximately $2,875,810. The trade was a 4.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.28% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Check Out Our Latest Report on Fastenal
Fastenal Price Performance
NASDAQ:FAST opened at $49.99 on Thursday. The company has a quick ratio of 2.21, a current ratio of 4.18 and a debt-to-equity ratio of 0.01. The firm has a market cap of $57.36 billion, a PE ratio of 42.36, a price-to-earnings-growth ratio of 3.11 and a beta of 0.72. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $50.63. The company’s 50-day moving average price is $46.60 and its two-hundred day moving average price is $45.73.
Fastenal (NASDAQ:FAST – Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the business posted $0.29 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. On average, equities analysts anticipate that Fastenal Company will post 1.25 EPS for the current fiscal year.
Fastenal Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th will be given a dividend of $0.26 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, July 28th. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. Fastenal’s dividend payout ratio is currently 88.14%.
Fastenal 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.
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