Commerce Bank Has $1,579,000 Stake in Fastenal Co. (FAST)
Commerce Bank lowered its stake in Fastenal Co. (NASDAQ:FAST) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,809 shares of the company’s stock after selling 1,115 shares during the period. Commerce Bank’s holdings in Fastenal were worth $1,579,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of FAST. Cantab Capital Partners LLP acquired a new stake in Fastenal during the second quarter valued at about $119,000. American Research & Management Co. increased its stake in Fastenal by 191.5% in the second quarter. American Research & Management Co. now owns 2,740 shares of the company’s stock valued at $122,000 after buying an additional 1,800 shares in the last quarter. Washington Trust Bank increased its stake in Fastenal by 2.3% in the second quarter. Washington Trust Bank now owns 2,762 shares of the company’s stock valued at $123,000 after buying an additional 62 shares in the last quarter. Van ECK Associates Corp increased its stake in Fastenal by 32.0% in the second quarter. Van ECK Associates Corp now owns 3,131 shares of the company’s stock valued at $139,000 after buying an additional 759 shares in the last quarter. Finally, FineMark National Bank & Trust increased its stake in Fastenal by 0.6% in the second quarter. FineMark National Bank & Trust now owns 3,420 shares of the company’s stock valued at $152,000 after buying an additional 20 shares in the last quarter. Institutional investors own 76.20% of the company’s stock.
Shares of Fastenal Co. (NASDAQ:FAST) traded down 0.02% during mid-day trading on Monday, reaching $46.36. The company’s stock had a trading volume of 2,289,943 shares. The company has a 50 day moving average of $41.34 and a 200-day moving average of $42.84. The firm has a market capitalization of $13.40 billion, a P/E ratio of 26.98 and a beta of 0.92. Fastenal Co. has a 12 month low of $35.10 and a 12 month high of $49.99.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Tuesday, October 11th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by $0.01. The firm earned $1.01 billion during the quarter. Fastenal had a net margin of 12.61% and a return on equity of 26.84%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the business posted $0.47 earnings per share. Equities research analysts forecast that Fastenal Co. will post $1.71 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Tuesday, October 25th were issued a $0.30 dividend. The ex-dividend date was Friday, October 21st. This represents a $1.20 annualized dividend and a yield of 2.60%. Fastenal’s dividend payout ratio (DPR) is 69.77%.
FAST has been the subject of several research reports. Zacks Investment Research upgraded Fastenal from a “sell” rating to a “hold” rating in a research report on Friday. BMO Capital Markets reiterated a “hold” rating and issued a $45.00 target price on shares of Fastenal in a research report on Monday, November 7th. Argus lowered Fastenal from a “buy” rating to a “hold” rating in a research report on Friday, October 14th. Vetr lowered Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 target price for the company. in a research report on Tuesday, September 6th. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of Fastenal in a research report on Sunday, September 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the stock. Fastenal presently has an average rating of “Hold” and an average price target of $47.93.
In other Fastenal news, EVP Leland J. Hein sold 1,000 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Ancius purchased 700 shares of the business’s stock in a transaction on Thursday, October 13th. The stock was purchased at an average cost of $38.82 per share, with a total value of $27,174.00. The disclosure for this purchase can be found here. 0.78% of the stock is owned by company insiders.
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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