APG Asset Management N.V. maintained its stake in shares of Fastenal Company (NASDAQ:FAST) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 288,560 shares of the company’s stock at the end of the second quarter. APG Asset Management N.V. owned approximately 0.10% of Fastenal worth $12,561,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. FNY Managed Accounts LLC bought a new position in shares of Fastenal during the first quarter worth about $133,000. Parkside Financial Bank & Trust boosted its position in shares of Fastenal by 0.3% in the first quarter. Parkside Financial Bank & Trust now owns 2,937 shares of the company’s stock worth $152,000 after buying an additional 9 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Fastenal by 417.7% in the first quarter. Clearbridge Investments LLC now owns 3,277 shares of the company’s stock worth $169,000 after buying an additional 2,644 shares during the last quarter. CENTRAL TRUST Co boosted its stake in Fastenal by 13.4% in the second quarter. CENTRAL TRUST Co now owns 3,665 shares of the company’s stock worth $159,000 after buying an additional 433 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Fastenal during the first quarter worth $191,000. Institutional investors own 81.68% of the company’s stock.
Shares of Fastenal Company (FAST) traded down 2.24% during midday trading on Friday, hitting $40.68. The stock had a trading volume of 3,385,360 shares. Fastenal Company has a 52 week low of $37.70 and a 52 week high of $52.74. The stock’s 50-day moving average price is $43.10 and its 200 day moving average price is $46.24. The company has a market cap of $11.71 billion, a price-to-earnings ratio of 22.39 and a beta of 0.98.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Wednesday, July 12th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. Fastenal had a net margin of 12.71% and a return on equity of 26.86%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company earned $0.46 earnings per share. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, equities analysts forecast that Fastenal Company will post $1.92 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, July 26th will be issued a dividend of $0.32 per share. The ex-dividend date is Monday, July 24th. This represents a $1.28 dividend on an annualized basis and a yield of 3.15%. Fastenal’s dividend payout ratio is currently 70.33%.
Fastenal announced that its Board of Directors has initiated a share buyback program on Tuesday, July 11th that permits the company to repurchase 5,000,000 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
COPYRIGHT VIOLATION NOTICE: This piece was originally posted by Community Financial News and is the property of of Community Financial News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://www.com-unik.info/2017/08/19/apg-asset-management-n-v-has-12561000-position-in-fastenal-company-nasdaqfast-updated-updated.html.
A number of equities research analysts recently weighed in on FAST shares. Longbow Research raised Fastenal from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a report on Friday, June 2nd. Robert W. Baird upgraded Fastenal from a “neutral” rating to an “outperform” rating and set a $53.00 price objective on the stock in a research report on Wednesday, July 12th. Credit Suisse Group set a $52.00 price objective on Fastenal and gave the company a “buy” rating in a research report on Thursday, May 4th. BidaskClub lowered Fastenal from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $43.00 price target (down from $46.00) on shares of Fastenal in a research report on Monday, June 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $50.14.
In other news, Director Michael John Dolan sold 8,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $43.01, for a total value of $344,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Holden Lewis acquired 1,000 shares of Fastenal stock in a transaction dated Thursday, May 25th. The stock was purchased at an average cost of $43.76 per share, with a total value of $43,760.00. Following the completion of the purchase, the chief financial officer now owns 1,000 shares of the company’s stock, valued at $43,760. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 3,600 shares of company stock valued at $154,256. 0.55% of the stock is owned by corporate insiders.
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.
What are top analysts saying about Fastenal Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Fastenal Company and related companies.