Brown Advisory Inc. decreased its position in shares of Fastenal (NASDAQ:FAST) by 16.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,861 shares of the company’s stock after selling 39,201 shares during the quarter. Brown Advisory Inc. owned about 0.07% of Fastenal worth $8,927,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FAST. Janus Henderson Group PLC increased its holdings in shares of Fastenal by 357.0% during the second quarter. Janus Henderson Group PLC now owns 1,822,655 shares of the company’s stock valued at $79,340,000 after acquiring an additional 1,423,856 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in Fastenal during the third quarter worth $64,702,000. Bank of New York Mellon Corp grew its holdings in Fastenal by 8.7% during the third quarter. Bank of New York Mellon Corp now owns 16,219,944 shares of the company’s stock worth $739,306,000 after buying an additional 1,297,185 shares in the last quarter. Old Mutual Global Investors UK Ltd. grew its holdings in Fastenal by 580.8% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,496,666 shares of the company’s stock worth $68,218,000 after buying an additional 1,276,832 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Fastenal by 3.1% during the second quarter. Vanguard Group Inc. now owns 31,573,149 shares of the company’s stock worth $1,374,380,000 after buying an additional 943,262 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.
In other news, insider Terry Modock Owen sold 30,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $48.02, for a total transaction of $1,440,600.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Leland J. Hein sold 10,000 shares of the company’s 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 transaction, the insider now directly owns 20,258 shares in the company, valued at approximately $987,374.92. The disclosure for this sale can be found here. Insiders sold a total of 80,112 shares of company stock valued at $3,879,832 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. equities research analysts expect that Fastenal will post 1.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th were paid a $0.32 dividend. The ex-dividend date was Tuesday, October 24th. This represents a $1.28 dividend on an annualized basis and a yield of 2.33%. Fastenal’s dividend payout ratio (DPR) is presently 68.09%.
Several equities research analysts recently issued reports on FAST shares. KeyCorp reiterated a “buy” rating and set a $52.00 price target on shares of Fastenal in a report on Thursday, October 12th. Stephens set a $54.00 price target on Fastenal and gave the stock a “buy” rating in a report on Wednesday, October 11th. Morgan Stanley reiterated an “equal weight” rating and set a $46.00 price target (up previously from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Stifel Nicolaus reiterated a “hold” rating and set a $46.00 price target on shares of Fastenal in a report on Tuesday, August 22nd. Finally, BMO Capital Markets reiterated a “hold” rating and set a $46.00 price target on shares of Fastenal in a report on Monday, August 21st. 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 company’s stock. Fastenal presently has an average rating of “Buy” and a consensus price target of $50.80.
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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