Fastenal (FAST) Shares Bought by Russell Investments Group Ltd.
Russell Investments Group Ltd. lifted its stake in shares of Fastenal (NASDAQ:FAST) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,801 shares of the company’s stock after buying an additional 1,749 shares during the quarter. Russell Investments Group Ltd.’s holdings in Fastenal were worth $5,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in FAST. Global X Management Co. LLC grew its holdings in Fastenal by 37.9% in the second quarter. Global X Management Co. LLC now owns 11,148 shares of the company’s stock worth $485,000 after purchasing an additional 3,063 shares during the period. Canada Pension Plan Investment Board grew its holdings in Fastenal by 13.4% in the second quarter. Canada Pension Plan Investment Board now owns 301,662 shares of the company’s stock worth $13,131,000 after purchasing an additional 35,629 shares during the period. Wetherby Asset Management Inc. grew its holdings in Fastenal by 1.2% in the second quarter. Wetherby Asset Management Inc. now owns 7,184 shares of the company’s stock worth $313,000 after purchasing an additional 82 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Fastenal by 6.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,417,649 shares of the company’s stock worth $61,711,000 after purchasing an additional 85,430 shares during the period. Finally, National Planning Corp purchased a new stake in Fastenal in the second quarter worth about $228,000. Institutional investors own 84.67% of the company’s stock.
Fastenal (FAST) opened at $53.82 on Tuesday. The stock has a market cap of $15,430.00, a P/E ratio of 28.61, a PEG ratio of 1.99 and a beta of 1.08. Fastenal has a 52 week low of $39.79 and a 52 week high of $55.35. The company has a quick ratio of 2.45, a current ratio of 5.36 and a debt-to-equity ratio of 0.21.
Fastenal (NASDAQ:FAST) last issued its earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. research analysts forecast that Fastenal will post 1.93 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, October 25th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, October 24th. This represents a $1.28 dividend on an annualized basis and a yield of 2.38%. Fastenal’s dividend payout ratio (DPR) is 68.09%.
In other Fastenal news, insider Terry Modock Owen sold 30,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total value of $1,440,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Leland J. Hein sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $48.74, for a total transaction of $487,400.00. Following the completion of the transaction, the insider now owns 20,258 shares in the company, valued at $987,374.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,112 shares of company stock worth $3,879,832. 0.55% of the stock is owned by insiders.
A number of equities research analysts have weighed in on the stock. Stifel Nicolaus restated a “hold” rating and issued a $51.00 price objective on shares of Fastenal in a report on Monday. BMO Capital Markets restated a “market perform” rating and issued a $51.00 price objective (up previously from $46.00) on shares of Fastenal in a report on Tuesday, October 10th. Stephens set a $54.00 price objective on shares of Fastenal and gave the stock a “buy” rating in a report on Wednesday, October 11th. Morgan Stanley restated an “equal weight” rating and issued a $46.00 price objective (up previously from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Finally, BidaskClub cut shares of Fastenal from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $51.13.
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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