Fastenal Company (FAST) Holdings Lifted by Cipher Capital LP
Cipher Capital LP boosted its holdings in Fastenal Company (NASDAQ:FAST) by 6.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,287 shares of the company’s stock after purchasing an additional 2,084 shares during the quarter. Cipher Capital LP’s holdings in Fastenal were worth $1,562,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Nuance Investments LLC purchased a new stake in shares of Fastenal during the 2nd quarter worth approximately $3,048,000. Sawtooth Solutions LLC raised its holdings in shares of Fastenal by 15.4% during the 2nd quarter. Sawtooth Solutions LLC now owns 24,473 shares of the company’s stock worth $1,065,000 after acquiring an additional 3,275 shares in the last quarter. Seven Eight Capital LP raised its holdings in shares of Fastenal by 67.2% during the 2nd quarter. Seven Eight Capital LP now owns 9,700 shares of the company’s stock worth $422,000 after acquiring an additional 3,900 shares in the last quarter. Girard Partners LTD. raised its holdings in shares of Fastenal by 14.5% during the 2nd quarter. Girard Partners LTD. now owns 11,674 shares of the company’s stock worth $508,000 after acquiring an additional 1,477 shares in the last quarter. Finally, Korea Investment CORP raised its holdings in shares of Fastenal by 62.5% during the 3rd quarter. Korea Investment CORP now owns 76,983 shares of the company’s stock worth $3,509,000 after acquiring an additional 29,600 shares in the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.
Several analysts recently weighed in on the company. BMO Capital Markets restated a “hold” rating and set a $46.00 price target on shares of Fastenal in a report on Monday, August 21st. BidaskClub lowered Fastenal from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Stephens set a $54.00 price target on Fastenal and gave the company a “buy” rating in a report on Wednesday, October 11th. Morgan Stanley restated an “equal weight” rating and set a $46.00 price target (up previously from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Finally, Stifel Nicolaus restated a “hold” rating and set a $46.00 price target on shares of Fastenal in a report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $50.80.
Fastenal Company (NASDAQ:FAST) opened at $48.75 on Thursday. Fastenal Company has a 12-month low of $39.79 and a 12-month high of $52.74. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.36 and a quick ratio of 2.45. The company has a market capitalization of $13,924.07, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 1.79 and a beta of 1.06.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company earned $0.44 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. equities research analysts expect that Fastenal Company will post 1.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, October 25th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Tuesday, October 24th. Fastenal’s payout ratio is 68.09%.
In other news, insider James C. Jansen sold 10,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $48.50, for a total transaction of $485,000.00. Following the transaction, the insider now owns 22,588 shares of the company’s stock, valued at approximately $1,095,518. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Terry Modock Owen sold 30,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $48.02, for a total value of $1,440,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 70,112 shares of company stock worth $3,369,832 in the last three months. Corporate insiders own 0.55% of the company’s stock.
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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