SignalPoint Asset Management LLC lessened its holdings in Fastenal (NASDAQ:FAST – Free Report) by 9.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,004 shares of the company’s stock after selling 700 shares during the period. SignalPoint Asset Management LLC’s holdings in Fastenal were worth $413,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the company. Contravisory Investment Management Inc. boosted its stake in shares of Fastenal by 2.4% during the second quarter. Contravisory Investment Management Inc. now owns 8,311 shares of the company’s stock valued at $490,000 after purchasing an additional 192 shares in the last quarter. Capital Investment Services of America Inc. boosted its stake in shares of Fastenal by 0.7% during the second quarter. Capital Investment Services of America Inc. now owns 77,049 shares of the company’s stock valued at $4,545,000 after purchasing an additional 500 shares in the last quarter. Janiczek Wealth Management LLC boosted its stake in shares of Fastenal by 15.5% during the second quarter. Janiczek Wealth Management LLC now owns 2,696 shares of the company’s stock valued at $159,000 after purchasing an additional 361 shares in the last quarter. Czech National Bank boosted its stake in shares of Fastenal by 0.5% during the second quarter. Czech National Bank now owns 67,597 shares of the company’s stock valued at $3,988,000 after purchasing an additional 362 shares in the last quarter. Finally, Telemus Capital LLC boosted its stake in shares of Fastenal by 1.2% during the second quarter. Telemus Capital LLC now owns 24,609 shares of the company’s stock valued at $1,452,000 after purchasing an additional 297 shares in the last quarter. 78.47% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
FAST has been the topic of a number of recent research reports. StockNews.com initiated coverage on Fastenal in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Robert W. Baird lifted their price objective on Fastenal from $57.00 to $60.00 in a research note on Friday, July 14th. Jefferies Financial Group lifted their price objective on Fastenal from $50.00 to $60.00 in a research note on Friday, June 16th. Stephens lowered Fastenal from an “overweight” rating to an “equal weight” rating and set a $60.00 price objective on the stock. in a research note on Thursday, July 13th. They noted that the move was a valuation call. Finally, HSBC started coverage on Fastenal in a research note on Friday. They issued a “hold” rating and a $59.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $57.00.
Insider Buying and Selling at Fastenal
In other Fastenal news, Director Michael J. Ancius purchased 500 shares of the company’s stock in a transaction on Monday, July 17th. The shares were purchased at an average cost of $57.53 per share, with a total value of $28,765.00. Following the completion of the purchase, the director now owns 28,765 shares in the company, valued at $1,654,850.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Michael J. Ancius acquired 500 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was purchased at an average price of $57.53 per share, for a total transaction of $28,765.00. Following the completion of the acquisition, the director now directly owns 28,765 shares in the company, valued at approximately $1,654,850.45. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Reyne K. Wisecup sold 19,564 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $56.78, for a total value of $1,110,843.92. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,135,600. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.
Fastenal Trading Down 0.1 %
FAST traded down $0.04 during trading on Tuesday, hitting $54.87. The company’s stock had a trading volume of 273,637 shares, compared to its average volume of 3,164,135. Fastenal has a twelve month low of $43.73 and a twelve month high of $59.43. The company has a quick ratio of 2.13, a current ratio of 4.26 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average price is $57.11 and its 200-day moving average price is $55.33. The firm has a market capitalization of $31.35 billion, a P/E ratio of 27.87, a PEG ratio of 3.09 and a beta of 1.16.
Fastenal (NASDAQ:FAST – Get Free Report) last issued its quarterly earnings results on Thursday, July 13th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a net margin of 15.52% and a return on equity of 34.63%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the firm posted $0.50 earnings per share. Fastenal’s quarterly revenue was up 5.9% compared to the same quarter last year. Analysts anticipate that Fastenal will post 1.98 EPS for the current year.
Fastenal Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, July 27th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.55%. The ex-dividend date was Wednesday, July 26th. Fastenal’s dividend payout ratio (DPR) is presently 71.07%.
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, 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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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