Dudley & Shanley LLC Sells 10,000 Shares of Fastenal Co. (FAST)
Dudley & Shanley LLC lowered its stake in shares of Fastenal Co. (NASDAQ:FAST) by 2.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 496,025 shares of the company’s stock after selling 10,000 shares during the period. Fastenal makes up 5.0% of Dudley & Shanley LLC’s portfolio, making the stock its 11th largest position. Dudley & Shanley LLC owned 0.17% of Fastenal worth $22,019,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Fund Management S.A. acquired a new stake in Fastenal during the second quarter valued at about $17,477,000. Bank of Montreal Can purchased a new position in shares of Fastenal during the second quarter worth $12,211,000. BB&T Securities LLC raised its position in shares of Fastenal by 235.9% in the first quarter. BB&T Securities LLC now owns 309,729 shares of the company’s stock worth $15,176,000 after buying an additional 217,522 shares during the period. Geode Capital Management LLC raised its position in shares of Fastenal by 6.4% in the first quarter. Geode Capital Management LLC now owns 2,551,508 shares of the company’s stock worth $124,792,000 after buying an additional 153,032 shares during the period. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Fastenal during the second quarter worth $5,948,000. 82.15% of the stock is owned by hedge funds and other institutional investors.
Fastenal Co. (NASDAQ:FAST) traded down 0.23% during midday trading on Monday, hitting $38.25. The company had a trading volume of 1,477,294 shares. Fastenal Co. has a 52 week low of $35.10 and a 52 week high of $49.99. The firm’s 50 day moving average is $41.29 and its 200-day moving average is $43.99. The firm has a market capitalization of $11.05 billion, a P/E ratio of 21.86 and a beta of 0.99.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Tuesday, October 11th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by $0.01. Fastenal had a net margin of 12.61% and a return on equity of 26.84%. The firm earned $1.01 billion during the quarter. During the same quarter last year, the firm posted $0.47 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts expect that Fastenal Co. will post $1.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, October 25th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, October 21st. This represents a $1.20 dividend on an annualized basis and a yield of 3.13%. Fastenal’s payout ratio is 69.77%.
A number of brokerages have recently weighed in on FAST. Morgan Stanley began coverage on Fastenal in a research note on Thursday, July 7th. They set an “equal weight” rating and a $46.00 target price on the stock. BMO Capital Markets reiterated a “market perform” rating and set a $47.00 target price on shares of Fastenal in a research note on Wednesday, July 13th. Macquarie began coverage on Fastenal in a research note on Thursday, August 25th. They set a “neutral” rating and a $50.00 target price on the stock. Wells Fargo & Co. reiterated a “hold” rating on shares of Fastenal in a research note on Sunday, September 4th. Finally, Zacks Investment Research lowered Fastenal from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 14th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $47.15.
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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