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GW&K Investment Management LLC reduced its position in shares of Fastenal Company (NASDAQ:FAST – Free Report) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 408,785 shares of the company’s stock after selling 633 shares during the quarter. GW&K Investment Management LLC owned 0.07% of Fastenal worth $31,701,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FAST. Horizon Financial Services LLC lifted its stake in Fastenal by 5,330.0% during the first quarter. Horizon Financial Services LLC now owns 543 shares of the company’s stock worth $42,000 after purchasing an additional 533 shares during the last quarter. Itau Unibanco Holding S.A. lifted its stake in Fastenal by 481.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 611 shares of the company’s stock worth $44,000 after purchasing an additional 506 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of Fastenal in the 1st quarter valued at approximately $57,000. Golden State Wealth Management LLC boosted its stake in shares of Fastenal by 5,661.5% in the 1st quarter. Golden State Wealth Management LLC now owns 749 shares of the company’s stock valued at $58,000 after purchasing an additional 736 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in shares of Fastenal by 31.1% in the 4th quarter. TD Private Client Wealth LLC now owns 1,381 shares of the company’s stock valued at $99,000 after acquiring an additional 328 shares during the last quarter. 81.38% of the stock is owned by institutional investors.
Insider Buying and Selling at Fastenal
In other news, EVP Anthony Paul Broersma sold 11,136 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $40.60, for a total value of $452,065.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of the stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $45.21, for a total transaction of $951,760.92. Following the transaction, the chief financial officer directly owned 10,192 shares of the company’s stock, valued at $460,780.32. The trade was a 67.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,252 shares of company stock valued at $3,521,735 in the last three months. Company insiders own 0.37% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently weighed in on FAST. Loop Capital reissued a “hold” rating on shares of Fastenal in a research report on Tuesday, July 15th. Robert W. Baird lifted their price objective on Fastenal from $43.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. lifted their price objective on Fastenal from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Stifel Nicolaus set a $82.00 target price on Fastenal in a research report on Thursday, July 3rd. Finally, Morgan Stanley set a $40.00 price target on shares of Fastenal and gave the company an “equal weight” rating in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.64.
Read Our Latest Report on FAST
Fastenal Stock Performance
Fastenal stock opened at $47.43 on Thursday. The company has a 50 day moving average price of $42.48 and a 200-day moving average price of $39.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.12 and a current ratio of 4.22. Fastenal Company has a fifty-two week low of $32.04 and a fifty-two week high of $47.62. The company has a market capitalization of $54.43 billion, a PE ratio of 45.61, a P/E/G ratio of 4.30 and a beta of 0.96.
Fastenal (NASDAQ:FAST – Get Free Report) last posted its quarterly earnings results on Monday, July 14th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.07 billion. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, equities analysts forecast that Fastenal Company will post 2.15 earnings per share for the current year.
Fastenal Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, July 29th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Tuesday, July 29th. Fastenal’s payout ratio is 84.62%.
About Fastenal
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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