Cypress Capital Management LLC reduced its holdings in shares of Fastenal (NASDAQ:FAST) by 0.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,360 shares of the company’s stock after selling 250 shares during the quarter. Cypress Capital Management LLC’s holdings in Fastenal were worth $1,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Cypress Capital Management LLC WY bought a new position in shares of Fastenal during the first quarter valued at $25,000. Childress Capital Advisors LLC bought a new position in shares of Fastenal during the fourth quarter valued at $32,000. Graves Light Private Wealth Management Inc. bought a new position in shares of Fastenal during the fourth quarter valued at $46,000. Creative Financial Designs Inc. ADV lifted its holdings in Fastenal by 1,550.0% in the first quarter. Creative Financial Designs Inc. ADV now owns 924 shares of the company’s stock valued at $46,000 after acquiring an additional 868 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Fastenal by 97.8% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 973 shares of the company’s stock valued at $48,000 after acquiring an additional 481 shares during the period. 76.82% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Jeffery Michael Watts sold 31,000 shares of the firm’s stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $48.20, for a total value of $1,494,200.00. Following the completion of the sale, the insider now directly owns 31,000 shares of the company’s stock, valued at approximately $1,494,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by company insiders.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Monday, April 12th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. Fastenal had a return on equity of 31.00% and a net margin of 15.22%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the company earned $0.35 EPS. Research analysts expect that Fastenal will post 1.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 25th. Stockholders of record on Monday, April 26th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Friday, April 23rd. Fastenal’s payout ratio is 75.17%.
A number of research firms have weighed in on FAST. Zacks Investment Research downgraded Fastenal from a “hold” rating to a “sell” rating and set a $54.00 target price on the stock. in a report on Monday, April 5th. Robert W. Baird increased their target price on Fastenal from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, April 14th. Finally, Morgan Stanley increased their target price on Fastenal from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Wednesday, April 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $48.56.
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, 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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