Mcdonald Capital Investors Inc. CA lifted its stake in Fastenal Company (NASDAQ:FAST) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,285,396 shares of the company’s stock after purchasing an additional 103,147 shares during the period. Fastenal accounts for approximately 8.9% of Mcdonald Capital Investors Inc. CA’s holdings, making the stock its 6th largest holding. Mcdonald Capital Investors Inc. CA owned about 0.80% of Fastenal worth $104,168,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of FAST. Commonwealth Bank of Australia boosted its position in shares of Fastenal by 44.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock worth $104,000 after purchasing an additional 753 shares during the last quarter. Cable Hill Partners LLC bought a new position in shares of Fastenal in the 3rd quarter worth $126,000. Parkside Financial Bank & Trust boosted its position in shares of Fastenal by 3.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,025 shares of the company’s stock worth $132,000 after purchasing an additional 88 shares during the last quarter. Krilogy Financial LLC boosted its position in shares of Fastenal by 2.0% in the 2nd quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock worth $154,000 after purchasing an additional 70 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its position in shares of Fastenal by 13.4% in the 2nd quarter. CENTRAL TRUST Co now owns 3,665 shares of the company’s stock worth $159,000 after purchasing an additional 433 shares during the last quarter. Institutional investors and hedge funds own 83.20% of the company’s stock.
In other news, insider Leland J. Hein sold 10,000 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $47.14, for a total transaction of $471,400.00. Following the transaction, the insider now owns 21,290 shares of the company’s stock, valued at approximately $1,003,610.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen L. Eastman acquired 800 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were bought at an average cost of $40.58 per share, for a total transaction of $32,464.00. The disclosure for this purchase can be found here. Insiders have sold a total of 28,000 shares of company stock worth $1,302,880 in the last three months. Insiders own 0.55% of the company’s stock.
Several research analysts have recently issued reports on FAST shares. Credit Suisse Group restated a “buy” rating and issued a $52.00 price target on shares of Fastenal in a research report on Thursday, July 13th. Zacks Investment Research lowered Fastenal from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. KeyCorp reaffirmed a “buy” rating and set a $52.00 price objective on shares of Fastenal in a research note on Thursday, October 12th. UBS AG raised Fastenal from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Finally, BidaskClub downgraded Fastenal from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $50.80.
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Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.50. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS.
Fastenal announced that its board has authorized a share buyback program on Tuesday, July 11th that allows the company to repurchase 5,000,000 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, October 25th will be given a dividend of $0.32 per share. The ex-dividend date 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 (DPR) is presently 68.09%.
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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