Livforsakringsbolaget Skandia Omsesidigt continued to hold its stake in Fastenal Company (NASDAQ:FAST) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,555 shares of the company’s stock at the end of the second quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Fastenal were worth $242,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. FMR LLC increased its position in shares of Fastenal by 893.7% in the fourth quarter. FMR LLC now owns 1,145,853 shares of the company’s stock worth $53,832,000 after buying an additional 1,030,536 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Fastenal by 6.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,470 shares of the company’s stock valued at $492,000 after buying an additional 620 shares in the last quarter. Numeric Investors LLC bought a new stake in shares of Fastenal during the fourth quarter valued at $254,000. Perigon Wealth Management LLC increased its stake in shares of Fastenal by 25.2% in the fourth quarter. Perigon Wealth Management LLC now owns 11,518 shares of the company’s stock valued at $597,000 after buying an additional 2,320 shares in the last quarter. Finally, HighPoint Advisor Group LLC increased its stake in shares of Fastenal by 43.3% in the fourth quarter. HighPoint Advisor Group LLC now owns 23,322 shares of the company’s stock valued at $1,189,000 after buying an additional 7,042 shares in the last quarter. Institutional investors and hedge funds own 82.54% of the company’s stock.
Fastenal Company (NASDAQ:FAST) traded up 0.71% during mid-day trading on Friday, reaching $42.66. 1,217,785 shares of the company were exchanged. Fastenal Company has a 12 month low of $37.70 and a 12 month high of $52.74. The stock’s 50-day moving average is $43.14 and its 200-day moving average is $46.59. The company has a market cap of $12.29 billion, a P/E ratio of 23.48 and a beta of 0.98.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Wednesday, July 12th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Fastenal had a return on equity of 26.86% and a net margin of 12.71%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 earnings per share. Equities analysts expect that Fastenal Company will post $1.92 earnings per share for the current year.
Fastenal declared that its board has approved a share buyback program on Tuesday, July 11th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, July 26th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, July 24th. This represents a $1.28 annualized dividend and a yield of 3.02%. Fastenal’s dividend payout ratio (DPR) is presently 70.33%.
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A number of brokerages have recently commented on FAST. Raymond James Financial, Inc. raised shares of Fastenal from a “market perform” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Wednesday, April 19th. UBS AG raised shares of Fastenal from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 19th. Argus raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Tuesday, April 18th. Stephens started coverage on shares of Fastenal in a research note on Friday, June 2nd. They issued an “overweight” rating and a $54.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Fastenal has an average rating of “Buy” and an average price target of $50.14.
In other news, Director Daniel L. Johnson bought 600 shares of the stock in a transaction dated Monday, July 24th. The shares were bought at an average price of $42.71 per share, for a total transaction of $25,626.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Holden Lewis bought 1,000 shares of the stock in a transaction dated Thursday, May 25th. The shares were purchased at an average price of $43.76 per share, for a total transaction of $43,760.00. Following the purchase, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $43,760. The disclosure for this purchase can be found here. Insiders have purchased 3,600 shares of company stock valued at $154,256 over the last three months. Insiders own 0.55% of the company’s stock.
Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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