Pflug Koory LLC raised its position in shares of Fastenal (NASDAQ:FAST) by 100.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,450 shares of the company’s stock after acquiring an additional 4,725 shares during the period. Pflug Koory LLC’s holdings in Fastenal were worth $308,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC boosted its holdings in Fastenal by 176.8% during the second quarter. Flagship Harbor Advisors LLC now owns 1,362 shares of the company’s stock valued at $44,000 after acquiring an additional 870 shares during the period. DAVENPORT & Co LLC raised its position in shares of Fastenal by 90.0% during the second quarter. DAVENPORT & Co LLC now owns 22,916 shares of the company’s stock valued at $747,000 after buying an additional 10,858 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Fastenal by 131.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,910 shares of the company’s stock valued at $193,000 after buying an additional 3,355 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Fastenal by 31.1% during the first quarter. SG Americas Securities LLC now owns 5,675 shares of the company’s stock valued at $365,000 after buying an additional 1,345 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its position in shares of Fastenal by 128.0% during the second quarter. IFM Investors Pty Ltd now owns 43,818 shares of the company’s stock valued at $1,428,000 after buying an additional 24,602 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.
In other Fastenal news, Director Michael J. Ancius purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $28.99 per share, with a total value of $28,990.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel L. Johnson purchased 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average cost of $30.49 per share, with a total value of $76,225.00. The disclosure for this purchase can be found here. Insiders purchased 4,604 shares of company stock valued at $138,479 in the last three months. Company insiders own 0.56% of the company’s stock.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Thursday, July 11th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.01). Fastenal had a return on equity of 32.27% and a net margin of 14.74%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company earned $0.37 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts anticipate that Fastenal will post 1.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, July 25th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.94%. The ex-dividend date is Wednesday, July 24th. Fastenal’s dividend payout ratio (DPR) is presently 66.67%.
A number of brokerages have recently commented on FAST. Raymond James cut their price objective on shares of Fastenal from $39.00 to $37.00 and set a “strong-buy” rating for the company in a research report on Friday, July 12th. BidaskClub raised shares of Fastenal from a “sell” rating to a “hold” rating in a research report on Friday. ValuEngine lowered shares of Fastenal from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 23rd. Buckingham Research cut their price objective on shares of Fastenal from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Finally, William Blair lowered shares of Fastenal from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $31.36.
Fastenal Company Profile
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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