River Road Asset Management LLC cut its holdings in Fastenal (NASDAQ:FAST) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,733,785 shares of the company’s stock after selling 36,588 shares during the period. Fastenal accounts for 1.8% of River Road Asset Management LLC’s holdings, making the stock its 7th biggest holding. River Road Asset Management LLC’s holdings in Fastenal were worth $94,821,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Exane Derivatives purchased a new position in Fastenal in the 4th quarter worth approximately $110,000. Fuller & Thaler Asset Management Inc. purchased a new position in Fastenal in the 3rd quarter worth approximately $114,000. SeaCrest Wealth Management LLC purchased a new position in Fastenal in the 4th quarter worth approximately $115,000. Cable Hill Partners LLC purchased a new position in Fastenal in the 3rd quarter worth approximately $126,000. Finally, Krilogy Financial LLC lifted its holdings in 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 in the last quarter. 84.40% of the stock is currently owned by institutional investors.
A number of research analysts recently commented on FAST shares. Credit Suisse Group reissued an “outperform” rating and issued a $61.00 price target (up from $52.00) on shares of Fastenal in a report on Tuesday, January 9th. Zacks Investment Research cut Fastenal from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. KeyCorp reissued a “buy” rating and issued a $52.00 price target on shares of Fastenal in a report on Thursday, October 12th. Stifel Nicolaus reissued a “hold” rating and issued a $51.00 price target on shares of Fastenal in a report on Monday, December 11th. Finally, Stephens boosted their price target on Fastenal from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Fastenal presently has an average rating of “Buy” and a consensus target price of $53.29.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Fastenal had a return on equity of 27.39% and a net margin of 13.18%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. equities research analysts predict that Fastenal will post 2.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Wednesday, January 31st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.78%. This is a boost from Fastenal’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, January 30th. Fastenal’s dividend payout ratio is 73.63%.
In other news, insider Charles S. Miller sold 26,250 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the transaction, the insider now owns 26,250 shares of the company’s stock, valued at approximately $1,483,125. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gary A. Polipnick sold 2,634 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $53.45, for a total value of $140,787.30. Following the transaction, the insider now directly owns 59,323 shares in the company, valued at approximately $3,170,814.35. The disclosure for this sale can be found here. Insiders have sold a total of 78,884 shares of company stock worth $4,059,512 over the last ninety days. Insiders own 0.55% of the company’s stock.
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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