Investmentaktiengesellschaft Fuer Langfristige Investoren TGV grew its position in Fastenal (NASDAQ:FAST) by 10.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,100,000 shares of the company’s stock after purchasing an additional 100,000 shares during the period. Fastenal comprises approximately 8.8% of Investmentaktiengesellschaft Fuer Langfristige Investoren TGV’s holdings, making the stock its 5th biggest holding. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV’s holdings in Fastenal were worth $57,519,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. MERIAN GLOBAL INVESTORS UK Ltd raised its holdings in Fastenal by 39,030.3% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,396,560 shares of the company’s stock worth $81,028,000 after purchasing an additional 1,392,991 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Fastenal by 69.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,281,061 shares of the company’s stock worth $132,347,000 after purchasing an additional 938,217 shares during the last quarter. Park Presidio Capital LLC bought a new stake in Fastenal during the 3rd quarter worth about $52,218,000. Millennium Management LLC raised its holdings in Fastenal by 365.1% during the 2nd quarter. Millennium Management LLC now owns 408,595 shares of the company’s stock worth $19,666,000 after purchasing an additional 320,744 shares during the last quarter. Finally, Vanguard Group Inc raised its holdings in Fastenal by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 32,459,382 shares of the company’s stock worth $1,883,293,000 after purchasing an additional 311,099 shares during the last quarter. Institutional investors own 85.06% of the company’s stock.
Several analysts have weighed in on the company. Argus reissued a “positive” rating on shares of Fastenal in a report on Friday. ValuEngine raised Fastenal from a “hold” rating to a “buy” rating in a report on Thursday, January 17th. Zacks Investment Research raised Fastenal from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. Buckingham Research set a $51.00 price target on Fastenal and gave the company a “hold” rating in a research note on Friday, January 11th. Finally, Wolfe Research raised Fastenal from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $56.50.
Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Thursday, January 17th. The company reported $0.60 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.60. Fastenal had a return on equity of 33.48% and a net margin of 15.14%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm posted $0.45 EPS. The business’s revenue was up 13.1% on a year-over-year basis. As a group, analysts anticipate that Fastenal will post 2.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 27th. Shareholders of record on Thursday, January 31st will be given a dividend of $0.43 per share. The ex-dividend date is Wednesday, January 30th. This represents a $1.72 dividend on an annualized basis and a yield of 2.89%. This is an increase from Fastenal’s previous quarterly dividend of $0.40. Fastenal’s dividend payout ratio is 60.84%.
In other Fastenal news, Director Michael John Dolan sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $900,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.56% of the company’s stock.
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Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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