Archford Capital Strategies LLC boosted its holdings in shares of Fastenal (NASDAQ:FAST) by 46.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,384 shares of the company’s stock after purchasing an additional 8,064 shares during the quarter. Archford Capital Strategies LLC’s holdings in Fastenal were worth $1,157,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Commonwealth Bank of Australia boosted its position in Fastenal by 44.9% during the second quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock worth $104,000 after purchasing an additional 753 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Fastenal during the third quarter valued at approximately $114,000. Cable Hill Partners LLC acquired a new position in shares of Fastenal during the third quarter valued at approximately $126,000. Krilogy Financial LLC raised its holdings in shares of Fastenal by 2.0% during the second quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock valued at $154,000 after acquiring an additional 70 shares during the last quarter. Finally, QS Investors LLC raised its holdings in shares of Fastenal by 1.6% during the second quarter. QS Investors LLC now owns 4,051 shares of the company’s stock valued at $176,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 84.67% of the company’s stock.
FAST has been the subject of a number of research analyst reports. BidaskClub cut Fastenal from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. BMO Capital Markets reaffirmed a “hold” rating and issued a $46.00 price target on shares of Fastenal in a report on Monday, August 21st. Stephens set a $54.00 price target on Fastenal and gave the company a “buy” rating in a report on Wednesday, October 11th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $46.00 price target (up previously from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $46.00 price target on shares of Fastenal in a report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $51.13.
Shares of Fastenal (NASDAQ:FAST) opened at $53.11 on Thursday. The company has a current ratio of 5.36, a quick ratio of 2.45 and a debt-to-equity ratio of 0.21. The firm has a market cap of $15,467.35, a price-to-earnings ratio of 28.63, a P/E/G ratio of 1.99 and a beta of 1.08. Fastenal has a 12-month low of $39.79 and a 12-month high of $55.35.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. The company had revenue of $1.13 billion during 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 firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 EPS. analysts anticipate that Fastenal will post 1.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th were given 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 2.41%. Fastenal’s payout ratio is currently 68.09%.
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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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