BB&T Securities LLC Acquires 19,160 Shares of Fastenal (FAST)
BB&T Securities LLC increased its stake in Fastenal (NASDAQ:FAST) by 72.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,718 shares of the company’s stock after purchasing an additional 19,160 shares during the period. BB&T Securities LLC’s holdings in Fastenal were worth $2,390,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in FAST. Avestar Capital LLC boosted its position in Fastenal by 3,163.2% in the fourth quarter. Avestar Capital LLC now owns 620 shares of the company’s stock worth $30,000 after purchasing an additional 601 shares during the last quarter. Toth Financial Advisory Corp lifted its holdings in Fastenal by 357.5% during the 4th quarter. Toth Financial Advisory Corp now owns 915 shares of the company’s stock worth $48,000 after buying an additional 715 shares during the last quarter. We Are One Seven LLC acquired a new position in Fastenal during the 4th quarter worth approximately $71,000. ETF Managers Group LLC lifted its stake in Fastenal by 17.4% in the 4th quarter. ETF Managers Group LLC now owns 2,421 shares of the company’s stock valued at $127,000 after buying an additional 359 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Fastenal by 26.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,843 shares of the company’s stock valued at $149,000 after purchasing an additional 601 shares in the last quarter. 86.72% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Michael John Dolan sold 5,000 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $900,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 12,500 shares of company stock worth $752,550. 0.56% of the stock is currently owned by company insiders.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Thursday, January 17th. The company reported $0.60 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.60. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Fastenal had a net margin of 15.14% and a return on equity of 33.48%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the firm posted $0.45 earnings per share. On average, analysts predict that Fastenal will post 2.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 27th. Investors of record on Thursday, January 31st will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.73%. This is an increase from Fastenal’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, January 30th. Fastenal’s payout ratio is presently 65.40%.
Several research analysts have recently issued reports on the stock. Jefferies Financial Group began coverage on shares of Fastenal in a report on Monday, January 7th. They set a “hold” rating and a $60.00 price objective on the stock. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Wednesday, January 23rd. ValuEngine raised shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Thursday, November 15th. BidaskClub raised Fastenal from a “hold” rating to a “buy” rating in a research report on Saturday, November 17th. Finally, Morgan Stanley began coverage on Fastenal in a report on Tuesday, December 18th. They set an “equal weight” rating and a $55.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $56.92.
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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