Oak Asset Management LLC decreased its holdings in shares of Fastenal (NASDAQ:FAST – Get Rating) by 0.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 104,099 shares of the company's stock after selling 415 shares during the period. Fastenal makes up approximately 2.2% of Oak Asset Management LLC's investment portfolio, making the stock its 10th largest holding. Oak Asset Management LLC's holdings in Fastenal were worth $4,926,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. Lido Advisors LLC boosted its position in Fastenal by 6.1% in the third quarter. Lido Advisors LLC now owns 18,841 shares of the company's stock valued at $867,000 after buying an additional 1,084 shares during the last quarter. Jump Financial LLC boosted its position in Fastenal by 1,087.2% in the third quarter. Jump Financial LLC now owns 52,593 shares of the company's stock valued at $2,422,000 after buying an additional 48,163 shares during the last quarter. Pictet Asset Management SA boosted its position in Fastenal by 4.6% in the third quarter. Pictet Asset Management SA now owns 644,506 shares of the company's stock valued at $29,673,000 after buying an additional 28,582 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Fastenal by 2.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 100,347 shares of the company's stock worth $4,620,000 after purchasing an additional 2,683 shares in the last quarter. Finally, MML Investors Services LLC boosted its position in Fastenal by 5.1% in the 3rd quarter. MML Investors Services LLC now owns 42,131 shares of the company's stock worth $1,940,000 after purchasing an additional 2,034 shares in the last quarter. Hedge funds and other institutional investors own 76.99% of the company's stock.
Get Fastenal alerts:Fastenal Trading Down 0.7 %
Shares of NASDAQ FAST traded down $0.38 during mid-day trading on Thursday, reaching $53.70. 704,339 shares of the company's stock were exchanged, compared to its average volume of 3,372,174. The firm has a market capitalization of $30.66 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 3.05 and a beta of 1.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 3.66. Fastenal has a 52-week low of $43.73 and a 52-week high of $56.86. The company's 50-day moving average is $52.80 and its 200-day moving average is $50.84.
Fastenal (NASDAQ:FAST – Get Rating) last announced its earnings results on Thursday, April 13th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.03. The company had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.87 billion. Fastenal had a return on equity of 34.83% and a net margin of 15.59%. Fastenal's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the business posted $0.47 EPS. Analysts expect that Fastenal will post 1.97 EPS for the current fiscal year.
Fastenal Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders of record on Thursday, April 27th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Wednesday, April 26th. Fastenal's dividend payout ratio is currently 71.79%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. StockNews.com lowered Fastenal from a "buy" rating to a "hold" rating in a research report on Monday. Stifel Nicolaus assumed coverage on Fastenal in a research report on Monday, April 3rd. They issued a "buy" rating and a $61.00 price objective on the stock. Loop Capital reduced their target price on Fastenal from $54.00 to $53.00 and set a "hold" rating for the company in a research note on Monday, January 23rd. Morgan Stanley upped their target price on Fastenal from $42.00 to $46.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 5th. Finally, Robert W. Baird upped their target price on Fastenal from $56.00 to $57.00 and gave the stock a "neutral" rating in a research note on Friday, April 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Fastenal has an average rating of "Hold" and a consensus target price of $53.14.
Insider Buying and Selling at Fastenal
In other Fastenal news, VP Terry Modock Owen sold 15,000 shares of Fastenal stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $53.24, for a total value of $798,600.00. Following the transaction, the vice president now directly owns 7,000 shares in the company, valued at approximately $372,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.45% of the stock is owned by corporate insiders.
Fastenal Company Profile
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Fastenal Co engages in the distribution of fasteners and tools. It also operates hardware stores. The company was founded by Robert A. Kierlin, Michael M. Gostomski, Henry K. McCannon, John D. Remick, and Stephen M. Slaggie in November 1967 and is headquartered in Winona, MN.
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