Dynamic Capital Management Ltd decreased its stake in Fastenal Company (NASDAQ:FAST) by 60.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 56,044 shares of the company’s stock after selling 85,759 shares during the period. Dynamic Capital Management Ltd’s holdings in Fastenal Company were worth $2,886,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Parkside Financial Bank & Trust boosted its stake in shares of Fastenal Company by 0.3% in the first quarter. Parkside Financial Bank & Trust now owns 2,937 shares of the company’s stock valued at $152,000 after buying an additional 9 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Fastenal Company during the fourth quarter valued at approximately $169,000. Advisory Services Network LLC acquired a new stake in shares of Fastenal Company during the first quarter valued at approximately $191,000. Hengehold Capital Management LLC acquired a new stake in shares of Fastenal Company during the first quarter valued at approximately $203,000. Finally, Van ECK Associates Corp boosted its stake in shares of Fastenal Company by 5.4% in the fourth quarter. Van ECK Associates Corp now owns 4,521 shares of the company’s stock valued at $212,000 after buying an additional 230 shares during the last quarter. Institutional investors own 82.71% of the company’s stock.
Shares of Fastenal Company (NASDAQ:FAST) traded up 0.573% during trading on Friday, hitting $43.035. The stock had a trading volume of 674,844 shares. Fastenal Company has a one year low of $37.70 and a one year high of $52.74. The stock has a market capitalization of $12.45 billion, a price-to-earnings ratio of 24.591 and a beta of 0.91. The stock has a 50 day moving average price of $43.99 and a 200-day moving average price of $47.88.
Fastenal Company (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, April 12th. The company reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Fastenal Company had a return on equity of 26.39% and a net margin of 12.61%. Fastenal Company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. On average, equities research analysts predict that Fastenal Company will post $1.87 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Wednesday, April 26th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, April 24th. This represents a $1.28 dividend on an annualized basis and a yield of 2.99%. Fastenal Company’s dividend payout ratio is currently 73.14%.
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FAST has been the topic of several research analyst reports. Longbow Research upgraded Fastenal Company from a “neutral” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Friday, June 2nd. Credit Suisse Group set a $52.00 target price on Fastenal Company and gave the stock a “buy” rating in a report on Thursday, May 4th. Raymond James Financial, Inc. upgraded Fastenal Company from a “market perform” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Wednesday, April 19th. Zacks Investment Research upgraded Fastenal Company from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Tuesday, March 21st. Finally, Argus upgraded Fastenal Company from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Tuesday, April 18th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $50.03.
In related news, Director Darren R. Jackson bought 5,000 shares of the business’s stock in a transaction on Friday, April 28th. The shares were purchased at an average cost of $44.75 per share, with a total value of $223,750.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Holden Lewis bought 1,000 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were bought at an average cost of $43.76 per share, for a total transaction of $43,760.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,000 shares in the company, valued at approximately $43,760. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,700 shares of company stock worth $299,343 in the last 90 days. 0.55% of the stock is currently owned by corporate insiders.
Fastenal Company 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.
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