APG Asset Management N.V. boosted its holdings in Fastenal Company (NASDAQ:FAST) by 11.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 320,360 shares of the company’s stock after purchasing an additional 31,800 shares during the quarter. APG Asset Management N.V. owned about 0.11% of Fastenal worth $14,602,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Commonwealth Bank of Australia grew its position in Fastenal by 44.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock valued at $104,000 after purchasing an additional 753 shares during the period. Parkside Financial Bank & Trust grew its position in Fastenal by 3.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,025 shares of the company’s stock valued at $132,000 after purchasing an additional 88 shares during the period. FNY Managed Accounts LLC acquired a new stake in Fastenal in the 1st quarter valued at $133,000. Krilogy Financial LLC grew its position in Fastenal by 2.0% in the 2nd quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock valued at $154,000 after purchasing an additional 70 shares during the period. Finally, CENTRAL TRUST Co grew its position in Fastenal by 13.4% in the 2nd quarter. CENTRAL TRUST Co now owns 3,665 shares of the company’s stock valued at $159,000 after purchasing an additional 433 shares during the period. 83.20% of the stock is owned by institutional investors and hedge funds.
In other Fastenal news, Director Stephen L. Eastman acquired 800 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were bought at an average cost of $40.58 per share, with a total value of $32,464.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Leland J. Hein sold 10,000 shares of the stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $48.74, for a total value of $487,400.00. Following the sale, the insider now directly owns 20,258 shares in the company, valued at $987,374.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,000 shares of company stock worth $1,302,880. Insiders own 0.55% of the company’s stock.
Several analysts recently issued reports on the stock. BidaskClub raised shares of Fastenal from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Northcoast Research assumed coverage on shares of Fastenal in a research report on Tuesday, July 25th. They issued a “buy” rating and a $54.00 price target for the company. BMO Capital Markets reissued a “market perform” rating and issued a $51.00 price target (up previously from $46.00) on shares of Fastenal in a research report on Tuesday, October 10th. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Thursday, August 3rd. Finally, Raymond James Financial, Inc. raised shares of Fastenal from an “outperform” rating to a “strong-buy” rating and set a $50.00 price target for the company in a research report on Thursday, July 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $50.80.
Shares of Fastenal Company (NASDAQ:FAST) opened at 46.97 on Wednesday. The stock’s 50 day moving average price is $45.86 and its 200-day moving average price is $44.05. The company has a market capitalization of $13.50 billion, a PE ratio of 25.05 and a beta of 1.00. Fastenal Company has a 1-year low of $38.09 and a 1-year high of $52.74.
Fastenal (NASDAQ:FAST) last released its earnings results on Wednesday, October 11th. The company reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the firm posted $0.44 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities analysts predict that Fastenal Company will post $1.93 EPS for the current year.
Fastenal announced that its board has approved a stock repurchase plan on Tuesday, July 11th that allows the company to buyback 5,000,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, October 25th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.73%. Fastenal’s dividend payout ratio is currently 68.09%.
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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