Huntington National Bank lifted its holdings in Fastenal (NASDAQ:FAST) by 18.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,444 shares of the company’s stock after purchasing an additional 1,165 shares during the quarter. Huntington National Bank’s holdings in Fastenal were worth $389,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of FAST. WINTON GROUP Ltd raised its stake in shares of Fastenal by 57.9% in the 2nd quarter. WINTON GROUP Ltd now owns 6,779 shares of the company’s stock valued at $326,000 after purchasing an additional 2,485 shares in the last quarter. Atria Investments LLC bought a new position in Fastenal in the 3rd quarter worth about $222,000. Covenant Asset Management LLC bought a new position in Fastenal in the 3rd quarter worth about $380,000. State of Alaska Department of Revenue grew its position in Fastenal by 63.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 90,974 shares of the company’s stock worth $5,276,000 after purchasing an additional 35,369 shares during the last quarter. Finally, Manning & Napier Group LLC boosted its holdings in shares of Fastenal by 9.3% in the third quarter. Manning & Napier Group LLC now owns 88,001 shares of the company’s stock valued at $5,105,000 after acquiring an additional 7,490 shares in the last quarter. 85.46% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Michael John Dolan sold 2,500 shares of the company’s stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the completion of the sale, the director now owns 12,500 shares of the company’s stock, valued at $750,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas J. Lundquist sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $60.51, for a total transaction of $302,550.00. Following the sale, the insider now directly owns 216,000 shares of the company’s stock, valued at approximately $13,070,160. The disclosure for this sale can be found here. Insiders sold 12,500 shares of company stock worth $752,550 over the last 90 days. 0.56% of the stock is currently owned by corporate insiders.
Shares of FAST stock traded down $0.07 on Friday, hitting $60.68. The company’s stock had a trading volume of 2,670,328 shares, compared to its average volume of 3,205,267. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 5.30. Fastenal has a fifty-two week low of $47.37 and a fifty-two week high of $62.12. The company has a market capitalization of $17.35 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.34 and a beta of 1.18.
Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Thursday, January 17th. The company reported $0.60 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. Fastenal had a net margin of 15.14% and a return on equity of 33.48%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the company posted $0.45 earnings per share. Fastenal’s revenue was up 13.1% compared to the same quarter last year. On average, analysts forecast that Fastenal will post 2.83 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 27th. Investors of record on Thursday, January 31st will be paid a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, January 30th. This is an increase from Fastenal’s previous quarterly dividend of $0.40. This represents a $1.72 annualized dividend and a dividend yield of 2.83%. Fastenal’s dividend payout ratio is 65.40%.
Several research firms recently commented on FAST. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Friday, December 14th. ValuEngine lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Wednesday, December 5th. BidaskClub upgraded shares of Fastenal from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 24th. Finally, Buckingham Research set a $51.00 price objective on shares of Fastenal and gave the stock a “hold” rating in a report on Friday, January 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $56.92.
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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