Tower Research Capital LLC TRC increased its position in shares of Fastenal (NASDAQ:FAST) by 2,509.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,343 shares of the company’s stock after acquiring an additional 14,755 shares during the period. Tower Research Capital LLC TRC’s holdings in Fastenal were worth $501,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Albert D Mason Inc. increased its holdings in Fastenal by 1.8% during the 3rd quarter. Albert D Mason Inc. now owns 16,620 shares of the company’s stock worth $543,000 after purchasing an additional 290 shares during the period. AdvisorNet Financial Inc increased its holdings in shares of Fastenal by 19.0% in the 3rd quarter. AdvisorNet Financial Inc now owns 1,814 shares of the company’s stock valued at $59,000 after acquiring an additional 290 shares during the last quarter. Covenant Asset Management LLC increased its holdings in shares of Fastenal by 3.0% in the 3rd quarter. Covenant Asset Management LLC now owns 10,989 shares of the company’s stock valued at $359,000 after acquiring an additional 325 shares during the last quarter. Verity Asset Management Inc. increased its holdings in shares of Fastenal by 5.1% in the 3rd quarter. Verity Asset Management Inc. now owns 7,256 shares of the company’s stock valued at $235,000 after acquiring an additional 350 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. increased its holdings in shares of Fastenal by 94.0% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 774 shares of the company’s stock valued at $25,000 after acquiring an additional 375 shares during the last quarter. 83.10% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CAO Sheryl Ann Lisowski sold 5,615 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $33.50, for a total value of $188,102.50. Following the completion of the sale, the chief accounting officer now directly owns 10,382 shares of the company’s stock, valued at approximately $347,797. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider William Joseph Drazkowski sold 16,666 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $36.77, for a total value of $612,808.82. Following the sale, the insider now directly owns 19,456 shares of the company’s stock, valued at $715,397.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,985 shares of company stock valued at $7,167,824. Insiders own 0.62% of the company’s stock.
Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, October 11th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Fastenal had a return on equity of 32.03% and a net margin of 14.77%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. Sell-side analysts anticipate that Fastenal will post 1.38 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a $0.22 dividend. The ex-dividend date is Thursday, October 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.42%. Fastenal’s dividend payout ratio (DPR) is presently 66.67%.
A number of research analysts have recently commented on FAST shares. Stephens downgraded Fastenal from an “overweight” rating to an “equal” rating and increased their price objective for the company from $36.00 to $37.00 in a report on Monday, October 14th. Cleveland Research reiterated a “hold” rating on shares of Fastenal in a report on Tuesday, September 24th. Wolfe Research downgraded Fastenal from a “market perform” rating to an “underperform” rating in a report on Monday, October 14th. BidaskClub downgraded Fastenal from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird increased their price objective on Fastenal from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $34.55.
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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