Fastenal Company (FAST) Stake Raised by Kayne Anderson Rudnick Investment Management LLC
Kayne Anderson Rudnick Investment Management LLC increased its stake in Fastenal Company (NASDAQ:FAST) by 11.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 543,108 shares of the company’s stock after buying an additional 54,690 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.19% of Fastenal Company worth $27,970,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of FAST. Norges Bank acquired a new position in Fastenal Company during the fourth quarter valued at approximately $98,191,000. D. E. Shaw & Co. Inc. boosted its position in Fastenal Company by 501.8% in the third quarter. D. E. Shaw & Co. Inc. now owns 1,751,267 shares of the company’s stock valued at $73,168,000 after buying an additional 1,460,283 shares during the period. Flinton Capital Management LLC acquired a new position in Fastenal Company during the fourth quarter valued at approximately $57,547,000. TCW Group Inc. boosted its position in Fastenal Company by 5,257.9% in the fourth quarter. TCW Group Inc. now owns 1,143,922 shares of the company’s stock valued at $53,741,000 after buying an additional 1,122,572 shares during the period. Finally, FMR LLC boosted its position in Fastenal Company by 893.7% in the fourth quarter. FMR LLC now owns 1,145,853 shares of the company’s stock valued at $53,832,000 after buying an additional 1,030,536 shares during the period. 82.77% of the stock is owned by institutional investors.
Shares of Fastenal Company (NASDAQ FAST) traded up 1.72% during trading on Friday, reaching $44.40. The company had a trading volume of 4,430,570 shares. Fastenal Company has a 12-month low of $37.70 and a 12-month high of $52.74. The company has a market cap of $12.84 billion, a P/E ratio of 25.37 and a beta of 0.91. The firm has a 50-day moving average of $44.03 and a 200-day moving average of $47.92.
Fastenal Company (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, April 12th. The company reported $0.46 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Fastenal Company had a net margin of 12.61% and a return on equity of 26.39%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. On average, equities research analysts anticipate that Fastenal Company will post $1.87 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Wednesday, April 26th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Monday, April 24th. Fastenal Company’s payout ratio is 73.14%.
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Several analysts have issued reports on FAST shares. Zacks Investment Research cut Fastenal Company from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub upgraded Fastenal Company from a “sell” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley restated an “equal weight” rating and set a $46.00 price objective (down previously from $50.00) on shares of Fastenal Company in a research note on Monday. J P Morgan Chase & Co started coverage on Fastenal Company in a research note on Friday, June 2nd. They set a “neutral” rating and a $46.00 price objective on the stock. Finally, Credit Suisse Group set a $52.00 price objective on Fastenal Company and gave the company a “buy” rating in a research note on Tuesday, June 6th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.03.
In other Fastenal Company news, Director Darren R. Jackson purchased 5,000 shares of the company’s stock in a transaction dated Friday, April 28th. The stock was purchased at an average price of $44.75 per share, with a total value of $223,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Holden Lewis purchased 1,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were acquired at an average cost of $43.76 per share, with a total value of $43,760.00. Following the purchase, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $43,760. The disclosure for this purchase can be found here. In the last three months, insiders purchased 6,700 shares of company stock valued at $299,343. 0.55% of the stock is owned by 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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