First Business Financial Services Inc. bought a new stake in Fastenal (NASDAQ:FAST) in the fourth quarter, Holdings Channel reports. The fund bought 15,688 shares of the company’s stock, valued at approximately $858,000. Fastenal comprises 0.2% of First Business Financial Services Inc.’s holdings, making the stock its 23rd biggest holding.

A number of other hedge funds also recently modified their holdings of FAST. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Fastenal during the third quarter worth approximately $64,702,000. Bank of New York Mellon Corp boosted its position in shares of Fastenal by 8.7% during the third quarter. Bank of New York Mellon Corp now owns 16,219,944 shares of the company’s stock worth $739,306,000 after buying an additional 1,297,185 shares during the period. Old Mutual Global Investors UK Ltd. boosted its position in shares of Fastenal by 580.8% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,496,666 shares of the company’s stock worth $68,218,000 after buying an additional 1,276,832 shares during the period. Neuberger Berman Group LLC acquired a new position in shares of Fastenal during the third quarter worth approximately $56,907,000. Finally, Janus Henderson Group PLC boosted its position in shares of Fastenal by 58.5% during the third quarter. Janus Henderson Group PLC now owns 2,889,428 shares of the company’s stock worth $131,700,000 after buying an additional 1,066,773 shares during the period. Institutional investors own 84.40% of the company’s stock.

Several equities analysts have recently issued reports on the company. Robert W. Baird reiterated a “buy” rating on shares of Fastenal in a research report on Wednesday, January 17th. BMO Capital Markets reiterated a “hold” rating and set a $57.00 price objective on shares of Fastenal in a research report on Tuesday, January 9th. Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Friday, January 19th. Credit Suisse Group reiterated an “outperform” rating and set a $61.00 price objective (up from $52.00) on shares of Fastenal in a research report on Tuesday, January 9th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $51.00 price objective on shares of Fastenal in a research report on Monday, December 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $53.29.

In related news, insider James C. Jansen sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 22,588 shares of the company’s stock, valued at $1,095,518. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Terry Modock Owen sold 30,000 shares of the business’s stock in a transaction that occurred 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. In the last three months, insiders have sold 78,884 shares of company stock worth $4,059,512. 0.55% of the stock is owned by corporate insiders.

Shares of Fastenal (FAST) opened at $53.48 on Friday. Fastenal has a twelve month low of $39.79 and a twelve month high of $57.81. The company has a market capitalization of $14,998.54, a P/E ratio of 26.61, a P/E/G ratio of 1.49 and a beta of 1.03. The company has a current ratio of 5.51, a quick ratio of 2.40 and a debt-to-equity ratio of 0.20.

Fastenal (NASDAQ:FAST) last announced its earnings results on Wednesday, January 17th. The company reported $0.45 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. Fastenal had a return on equity of 27.39% and a net margin of 13.18%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company earned $0.40 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. analysts expect that Fastenal will post 2.5 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Wednesday, January 31st will be issued a dividend of $0.37 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.48 annualized dividend and a yield of 2.77%. Fastenal’s payout ratio is presently 73.63%.

ILLEGAL ACTIVITY NOTICE: This story was published by Watch List News and is the sole property of of Watch List News. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright law. The legal version of this story can be read at https://www.watchlistnews.com/first-business-financial-services-inc-buys-new-position-in-fastenal-fast/1857419.html.

Fastenal Company Profile

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.

Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal (NASDAQ:FAST).

Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.