DF Dent & Co. Inc. raised its holdings in Fastenal (NASDAQ:FAST) by 35.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,963,207 shares of the company’s stock after purchasing an additional 513,836 shares during the period. Fastenal comprises approximately 2.3% of DF Dent & Co. Inc.’s holdings, making the stock its 20th largest holding. DF Dent & Co. Inc. owned about 0.68% of Fastenal worth $89,483,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in FAST. Janus Henderson Group PLC raised its position in shares of Fastenal by 357.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,822,655 shares of the company’s stock valued at $79,340,000 after purchasing an additional 1,423,856 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Fastenal in the 3rd quarter valued at approximately $64,702,000. Bank of New York Mellon Corp raised its position in shares of Fastenal by 8.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 16,219,944 shares of the company’s stock valued at $739,306,000 after purchasing an additional 1,297,185 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its position in shares of Fastenal by 580.8% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,496,666 shares of the company’s stock valued at $68,218,000 after purchasing an additional 1,276,832 shares in the last quarter. Finally, Neuberger Berman Group LLC acquired a new position in shares of Fastenal in the 3rd quarter valued at approximately $56,907,000. 84.67% of the stock is currently owned by institutional investors.
A number of equities analysts have issued reports on the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $51.00 target price on shares of Fastenal in a research report on Monday. BMO Capital Markets reaffirmed a “market perform” rating and issued a $51.00 target price (up from $46.00) on shares of Fastenal in a research report on Tuesday, October 10th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $46.00 target price (up from $44.00) on shares of Fastenal in a research report on Monday, October 2nd. Stephens set a $54.00 target price on Fastenal and gave the company a “buy” rating in a research report on Wednesday, October 11th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $52.00 target price on shares of Fastenal in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Fastenal presently has a consensus rating of “Buy” and a consensus price target of $51.13.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 EPS. research analysts predict that Fastenal will post 1.93 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, October 25th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Tuesday, October 24th. Fastenal’s dividend payout ratio is currently 68.09%.
In related news, insider James C. Jansen sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $48.50, for a total transaction of $485,000.00. Following the sale, the insider now directly owns 22,588 shares of the company’s stock, valued at approximately $1,095,518. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $1,440,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,112 shares of company stock worth $3,879,832. Corporate insiders own 0.55% of the company’s stock.
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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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