Fifth Third Bancorp held its stake in Fastenal Company (NASDAQ:FAST) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,930 shares of the company’s stock at the end of the fourth quarter. Fifth Third Bancorp’s holdings in Fastenal Company were worth $1,710,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP raised its stake in Fastenal Company by 54.0% in the second quarter. Quantbot Technologies LP now owns 39,281 shares of the company’s stock valued at $1,743,000 after buying an additional 13,768 shares during the last quarter. Mcdonald Capital Investors Inc. CA raised its stake in Fastenal Company by 1.7% in the second quarter. Mcdonald Capital Investors Inc. CA now owns 2,134,829 shares of the company’s stock valued at $94,765,000 after buying an additional 35,336 shares during the last quarter. McKinley Carter Wealth Services Inc. raised its stake in Fastenal Company by 59.4% in the second quarter. McKinley Carter Wealth Services Inc. now owns 31,140 shares of the company’s stock valued at $1,382,000 after buying an additional 11,608 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Fastenal Company during the second quarter valued at $7,897,000. Finally, Bank of Hawaii raised its stake in Fastenal Company by 15.3% in the second quarter. Bank of Hawaii now owns 20,359 shares of the company’s stock valued at $904,000 after buying an additional 2,699 shares during the last quarter. Hedge funds and other institutional investors own 78.11% of the company’s stock.
Shares of Fastenal Company (NASDAQ:FAST) traded up 0.14% during midday trading on Tuesday, reaching $50.20. 411,363 shares of the company’s stock were exchanged. Fastenal Company has a 1-year low of $37.70 and a 1-year high of $51.56. The firm has a 50-day moving average of $48.96 and a 200-day moving average of $44.46. The company has a market capitalization of $14.52 billion, a PE ratio of 29.03 and a beta of 1.02.
Fastenal Company (NASDAQ:FAST) last posted its quarterly earnings results on Wednesday, January 18th. The company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.02. The firm had revenue of $947.95 million for the quarter, compared to analyst estimates of $951.83 million. Fastenal Company had a return on equity of 26.52% and a net margin of 12.61%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 EPS. Equities analysts expect that Fastenal Company will post $1.84 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 28th. Shareholders of record on Wednesday, February 1st will be given a dividend of $0.32 per share. This is a positive change from Fastenal Company’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, January 30th. This represents a $1.28 annualized dividend and a dividend yield of 2.55%. Fastenal Company’s payout ratio is 73.99%.
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Several analysts have weighed in on the stock. Credit Suisse Group boosted their target price on shares of Fastenal Company from $41.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, January 19th. Stifel Nicolaus boosted their price target on shares of Fastenal Company from $44.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, January 19th. Zacks Investment Research raised shares of Fastenal Company from a “sell” rating to a “hold” rating in a report on Tuesday, December 13th. William Blair raised shares of Fastenal Company from a “market perform” rating to an “outperform” rating in a report on Monday, December 5th. Finally, Avondale Partners raised shares of Fastenal Company from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $51.00 to $54.00 in a report on Thursday, January 12th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $48.87.
In other Fastenal Company news, insider Reyne K. Wisecup sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $48.98, for a total transaction of $2,449,000.00. Following the transaction, the insider now owns 60,000 shares of the company’s stock, valued at approximately $2,938,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leland J. Hein sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $46.15, for a total value of $46,150.00. The disclosure for this sale can be found here. Insiders have sold a total of 53,000 shares of company stock worth $2,589,950 in the last ninety days. Insiders own 0.78% of the company’s stock.
About Fastenal Company
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.
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