Van ECK Associates Corp decreased its position in shares of Fastenal Company (NASDAQ:FAST – Free Report) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 408,128 shares of the company’s stock after selling 19,493 shares during the period. Van ECK Associates Corp’s holdings in Fastenal were worth $19,602,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Fastenal during the 2nd quarter worth approximately $26,000. Evergreen Advisors LLC acquired a new stake in shares of Fastenal in the first quarter worth $26,000. Palladiem LLC purchased a new position in shares of Fastenal during the fourth quarter worth $25,000. Elyxium Wealth LLC acquired a new position in Fastenal during the fourth quarter valued at $25,000. Finally, MV Capital Management Inc. purchased a new stake in Fastenal in the fourth quarter valued at $29,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other Fastenal news, Director Rita J. Heise sold 34,964 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total value of $1,749,948.20. Following the completion of the sale, the director owned 20,000 shares in the company, valued at approximately $1,001,000. This represents a 63.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Ancius sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the completion of the transaction, the director directly owned 58,690 shares in the company, valued at $2,875,810. This trade represents a 4.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.28% of the company’s stock.
Fastenal Stock Performance
Fastenal (NASDAQ:FAST – Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 EPS for the quarter, meeting the consensus estimate of $0.33. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The firm’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 EPS. As a group, equities research analysts anticipate that Fastenal Company will post 1.26 EPS for the current fiscal year.
Fastenal Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, July 28th. Fastenal’s dividend payout ratio (DPR) is currently 88.14%.
Analyst Ratings Changes
FAST has been the subject of a number of recent research reports. Rothschild & Co Redburn set a $55.00 price objective on Fastenal and gave the company a “buy” rating in a research note on Monday, July 13th. DA Davidson restated a “neutral” rating and issued a $46.00 target price on shares of Fastenal in a research note on Wednesday, July 15th. Jefferies Financial Group reiterated a “buy” rating on shares of Fastenal in a research report on Thursday, June 4th. Wolfe Research reissued an “underperform” rating and issued a $47.00 price target on shares of Fastenal in a report on Thursday, July 9th. Finally, Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a research report on Wednesday, July 15th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $49.17.
Check Out Our Latest Research Report on FAST
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
- Strike a Balance Between Growth and Stability With These 3 Names Ready to Rally
- Rubrik’s AI Security Bet Could Power the Next Leg Higher
- Apple’s Foldable iPhone Could Be a Catalyst, But Not a Cure-All
- Snowflake Is Up Nearly 50% in 2026—What Are Short Sellers Betting Against?
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.
