Sequoia Financial Advisors LLC cut its stake in shares of Fastenal (NASDAQ:FAST – Free Report) by 21.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,217 shares of the company’s stock after selling 2,299 shares during the period. Sequoia Financial Advisors LLC’s holdings in Fastenal were worth $634,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of FAST. Hartford Financial Management Inc. boosted its holdings in shares of Fastenal by 46.9% in the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after buying an additional 153 shares during the last quarter. MCF Advisors LLC lifted its stake in Fastenal by 2,172.2% in the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after acquiring an additional 391 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Fastenal in the 4th quarter valued at about $35,000. Criterion Capital Advisors LLC acquired a new position in shares of Fastenal during the 4th quarter worth about $43,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Fastenal by 283.2% in the 4th quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock valued at $49,000 after purchasing an additional 558 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, Director Hsenghung Sam Hsu purchased 500 shares of the stock in a transaction on Monday, June 10th. The shares were acquired at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $221,480. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other Fastenal news, Director Daniel L. Johnson acquired 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The stock was purchased at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the acquisition, the director now owns 10,595 shares in the company, valued at approximately $724,486.10. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Hsenghung Sam Hsu bought 500 shares of Fastenal stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average cost of $63.28 per share, for a total transaction of $31,640.00. Following the acquisition, the director now owns 3,500 shares in the company, valued at approximately $221,480. The disclosure for this purchase can be found here. 0.41% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research firms recently commented on FAST. HSBC lifted their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Robert W. Baird decreased their target price on Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Loop Capital reduced their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Finally, Stifel Nicolaus increased their price objective on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $68.80.
Get Our Latest Report on Fastenal
Fastenal Stock Performance
Shares of NASDAQ FAST opened at $63.16 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The firm has a market cap of $36.16 billion, a price-to-earnings ratio of 31.27, a P/E/G ratio of 3.37 and a beta of 1.01. The stock’s fifty day moving average price is $65.33 and its two-hundred day moving average price is $68.59. Fastenal has a one year low of $53.83 and a one year high of $79.04.
Fastenal (NASDAQ:FAST – Get Free Report) last released its quarterly earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $0.52 earnings per share. On average, equities analysts forecast that Fastenal will post 2.08 EPS for the current year.
Fastenal Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Wednesday, April 24th. Fastenal’s dividend payout ratio is currently 77.23%.
About Fastenal
(Free Report)
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 that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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