UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,718,200 shares of the company's stock after purchasing an additional 226,126 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.82% of Fastenal worth $336,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Fastenal by 3.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 199,270 shares of the company's stock valued at $14,232,000 after purchasing an additional 6,218 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Fastenal by 107.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 108,858 shares of the company's stock valued at $7,775,000 after purchasing an additional 56,294 shares during the last quarter. Townsquare Capital LLC lifted its position in Fastenal by 24.2% during the third quarter. Townsquare Capital LLC now owns 46,574 shares of the company's stock valued at $3,326,000 after purchasing an additional 9,064 shares during the last quarter. Avestar Capital LLC bought a new stake in Fastenal during the third quarter valued at approximately $204,000. Finally, D.A. Davidson & CO. lifted its holdings in shares of Fastenal by 5.1% in the 3rd quarter. D.A. Davidson & CO. now owns 23,263 shares of the company's stock worth $1,662,000 after acquiring an additional 1,123 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Fastenal
In other news, CAO Sheryl Ann Lisowski sold 13,567 shares of the business's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $76.19, for a total transaction of $1,033,669.73. Following the sale, the chief accounting officer now owns 5,096 shares in the company, valued at approximately $388,264.24. The trade was a 72.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel L. Johnson sold 8,474 shares of the business's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total transaction of $706,392.64. Following the sale, the director now owns 10,595 shares in the company, valued at approximately $883,199.20. This trade represents a 44.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 208,289 shares of company stock valued at $16,123,438. 0.41% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of brokerages have recently weighed in on FAST. Morgan Stanley boosted their price objective on shares of Fastenal from $72.00 to $76.00 and gave the stock an "equal weight" rating in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on shares of Fastenal from $57.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Stifel Nicolaus restated a "buy" rating and issued a $86.00 price objective (up from $80.00) on shares of Fastenal in a report on Monday, October 14th. Stephens boosted their price objective on shares of Fastenal from $56.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, October 14th. Finally, Bank of America began coverage on shares of Fastenal in a report on Monday, October 7th. They issued a "buy" rating and a $85.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $74.80.
Get Our Latest Stock Analysis on FAST
Fastenal Trading Down 0.2 %
Shares of NASDAQ FAST traded down $0.15 during mid-day trading on Friday, hitting $83.56. The stock had a trading volume of 1,346,788 shares, compared to its average volume of 3,272,235. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. Fastenal has a 1 year low of $59.49 and a 1 year high of $84.88. The business has a 50 day moving average price of $77.57 and a two-hundred day moving average price of $70.29. The firm has a market cap of $47.87 billion, a P/E ratio of 41.57, a price-to-earnings-growth ratio of 4.90 and a beta of 0.99.
Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The company's quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. On average, equities analysts anticipate that Fastenal will post 2.03 EPS for the current fiscal year.
Fastenal Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 25th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Friday, October 25th. Fastenal's payout ratio is currently 77.61%.
About Fastenal
(
Free Report)
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.
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