Oppenheimer & Co. Inc. Acquires 1,217 Shares of Fastenal (FAST)
Oppenheimer & Co. Inc. lifted its holdings in shares of Fastenal (NASDAQ:FAST) by 10.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,406 shares of the company’s stock after purchasing an additional 1,217 shares during the period. Oppenheimer & Co. Inc.’s holdings in Fastenal were worth $611,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Commonwealth Bank of Australia boosted its position in Fastenal by 44.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock valued at $104,000 after buying an additional 753 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in Fastenal during the 3rd quarter valued at $114,000. Cable Hill Partners LLC purchased a new stake in Fastenal during the 3rd quarter valued at $126,000. Krilogy Financial LLC boosted its position in Fastenal by 2.0% during the 2nd quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock valued at $154,000 after buying an additional 70 shares during the period. Finally, QS Investors LLC boosted its position in Fastenal by 1.6% during the 2nd quarter. QS Investors LLC now owns 4,051 shares of the company’s stock valued at $176,000 after buying an additional 63 shares during the period. 84.65% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on FAST shares. KeyCorp reissued a “buy” rating and set a $52.00 price target on shares of Fastenal in a research report on Thursday, October 12th. BMO Capital Markets reissued a “market perform” rating and set a $51.00 price target (up previously from $46.00) on shares of Fastenal in a research report on Tuesday, October 10th. Northcoast Research reissued a “buy” rating on shares of Fastenal in a research report on Friday, August 4th. Stephens set a $54.00 price target on shares of Fastenal and gave the company a “buy” rating in a research report on Wednesday, October 11th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $46.00 price target on shares of Fastenal in a research report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $50.80.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the company posted $0.44 EPS. Fastenal’s revenue was up 11.8% on a year-over-year basis. research analysts predict that Fastenal will post 1.93 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, October 25th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, October 24th. This represents a $1.28 dividend on an annualized basis and a yield of 2.45%. Fastenal’s dividend payout ratio (DPR) is currently 68.09%.
In other Fastenal news, insider Terry Modock Owen sold 30,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $48.02, for a total transaction of $1,440,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leland J. Hein sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $47.14, for a total transaction of $471,400.00. Following the sale, the insider now owns 21,290 shares of the company’s stock, valued at $1,003,610.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,112 shares of company stock valued at $3,879,832. 0.55% of the stock is currently owned by corporate insiders.
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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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