Alta Advisers Ltd increased its position in shares of Fastenal Company (NASDAQ:FAST – Free Report) by 100.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,680 shares of the company’s stock after purchasing an additional 2,840 shares during the period. Alta Advisers Ltd’s holdings in Fastenal were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in FAST. Brighton Jones LLC acquired a new stake in Fastenal during the fourth quarter worth approximately $496,000. GAMMA Investing LLC grew its position in Fastenal by 11.4% during the first quarter. GAMMA Investing LLC now owns 21,847 shares of the company’s stock worth $1,694,000 after buying an additional 2,240 shares in the last quarter. CX Institutional grew its position in Fastenal by 10.5% during the first quarter. CX Institutional now owns 4,851 shares of the company’s stock worth $376,000 after buying an additional 462 shares in the last quarter. Simon Quick Advisors LLC grew its position in Fastenal by 20.0% during the first quarter. Simon Quick Advisors LLC now owns 3,612 shares of the company’s stock worth $280,000 after buying an additional 603 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Fastenal by 16.4% during the first quarter. Fifth Third Bancorp now owns 38,784 shares of the company’s stock worth $3,008,000 after buying an additional 5,474 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Fastenal
In other news, EVP John Lewis Soderberg sold 34,612 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $48.03, for a total value of $1,662,414.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffery Michael Watts sold 48,724 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $48.05, for a total value of $2,341,188.20. Following the completion of the transaction, the insider owned 11,880 shares of the company’s stock, valued at $570,834. The trade was a 80.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,230 shares of company stock valued at $5,288,364 over the last quarter. 0.37% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
View Our Latest Report on Fastenal
Fastenal Stock Down 2.0%
NASDAQ FAST opened at $45.78 on Friday. The business has a fifty day moving average price of $48.26 and a two-hundred day moving average price of $43.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.22 and a quick ratio of 2.12. Fastenal Company has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The stock has a market capitalization of $52.54 billion, a PE ratio of 44.02, a PEG ratio of 4.15 and a beta of 0.94.
Fastenal (NASDAQ:FAST – Get Free Report) last released its earnings results on Monday, July 14th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Fastenal had a return on equity of 32.33% and a net margin of 15.30%.The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts expect that Fastenal Company will post 2.15 earnings per share for the current fiscal year.
Fastenal Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, October 28th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.9%. Fastenal’s payout ratio is 84.62%.
Fastenal Profile
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
Recommended Stories
- Five stocks we like better than Fastenal
- 3 Warren Buffett Stocks to Buy Now
- Bassett Furniture: Buy Now, Sit Back, and Collect Dividends
- What is the Dogs of the Dow Strategy? Overview and Examples
- AST SpaceMobile’s Big Win: Shares Soar on New Deal With Verizon
- 3 Grocery Stocks That Can Help Take a Bite Out of Inflation
- Catch the Next Bitcoin Rally With These 3 ETFs
Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.