Janus Henderson Group PLC Acquires 3,180,349 Shares of Fastenal (NASDAQ:FAST)
Janus Henderson Group PLC grew its holdings in shares of Fastenal (NASDAQ:FAST) by 128.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,653,574 shares of the company’s stock after purchasing an additional 3,180,349 shares during the quarter. Janus Henderson Group PLC owned about 0.98% of Fastenal worth $208,899,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. TCI Wealth Advisors Inc. boosted its position in Fastenal by 72.1% during the fourth quarter. TCI Wealth Advisors Inc. now owns 678 shares of the company’s stock worth $25,000 after purchasing an additional 284 shares during the period. Citizens Financial Group Inc RI lifted its holdings in shares of Fastenal by 265.3% in the fourth quarter. Citizens Financial Group Inc RI now owns 716 shares of the company’s stock worth $26,000 after buying an additional 520 shares in the last quarter. Security National Trust Co. purchased a new stake in shares of Fastenal in the fourth quarter worth about $31,000. Executive Wealth Management LLC lifted its holdings in shares of Fastenal by 120.7% in the third quarter. Executive Wealth Management LLC now owns 1,249 shares of the company’s stock worth $40,000 after buying an additional 683 shares in the last quarter. Finally, Simon Quick Advisors LLC lifted its holdings in shares of Fastenal by 133.4% in the fourth quarter. Simon Quick Advisors LLC now owns 1,620 shares of the company’s stock worth $60,000 after buying an additional 926 shares in the last quarter. Hedge funds and other institutional investors own 82.13% of the company’s stock.
Shares of NASDAQ:FAST opened at $30.23 on Thursday. The company’s fifty day moving average price is $35.20 and its 200-day moving average price is $35.31. The firm has a market capitalization of $18.02 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 1.60 and a beta of 1.23. Fastenal has a one year low of $26.72 and a one year high of $39.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.51 and a quick ratio of 2.00.
The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were issued a $0.25 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, January 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.31%. Fastenal’s dividend payout ratio is presently 72.46%.
In related news, Director Darren R. Jackson purchased 18,000 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were purchased at an average price of $35.57 per share, with a total value of $640,260.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Daniel L. Florness sold 7,500 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $38.20, for a total transaction of $286,500.00. Following the completion of the transaction, the chief executive officer now directly owns 207,190 shares in the company, valued at approximately $7,914,658. The disclosure for this sale can be found here. Insiders bought a total of 18,945 shares of company stock worth $672,514 in the last three months. Insiders own 0.57% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Fastenal from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 18th. Buckingham Research increased their price target on shares of Fastenal from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. BidaskClub raised shares of Fastenal from a “hold” rating to a “buy” rating in a report on Tuesday, March 17th. Wells Fargo & Co raised shares of Fastenal from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a report on Thursday, March 19th. Finally, Morgan Stanley lowered their price target on shares of Fastenal from $37.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Fastenal currently has a consensus rating of “Hold” and a consensus target price of $75.67.
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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