Prospera Financial Services Inc trimmed its stake in Fastenal (NASDAQ:FAST – Get Rating) by 19.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,545 shares of the company’s stock after selling 1,077 shares during the quarter. Prospera Financial Services Inc’s holdings in Fastenal were worth $270,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Stock Yards Bank & Trust Co. raised its holdings in shares of Fastenal by 2.2% in the first quarter. Stock Yards Bank & Trust Co. now owns 9,940 shares of the company’s stock worth $591,000 after acquiring an additional 210 shares during the last quarter. Mission Wealth Management LP raised its holdings in shares of Fastenal by 5.7% in the first quarter. Mission Wealth Management LP now owns 3,881 shares of the company’s stock worth $231,000 after acquiring an additional 211 shares during the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of Fastenal by 3.0% in the first quarter. NorthCrest Asset Manangement LLC now owns 8,280 shares of the company’s stock worth $492,000 after acquiring an additional 240 shares during the last quarter. Salvus Wealth Management LLC grew its position in shares of Fastenal by 2.5% in the first quarter. Salvus Wealth Management LLC now owns 10,486 shares of the company’s stock valued at $623,000 after purchasing an additional 252 shares during the period. Finally, Covenant Asset Management LLC grew its position in shares of Fastenal by 1.6% in the first quarter. Covenant Asset Management LLC now owns 16,485 shares of the company’s stock valued at $979,000 after purchasing an additional 254 shares during the period. 77.89% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Fastenal news, CAO Sheryl Ann Lisowski purchased 1,058 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The shares were acquired at an average price of $46.63 per share, for a total transaction of $49,334.54. Following the completion of the purchase, the chief accounting officer now owns 5,096 shares in the company, valued at approximately $237,626.48. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Sheryl Ann Lisowski acquired 1,058 shares of the business’s stock in a transaction on Thursday, July 14th. The shares were purchased at an average price of $46.63 per share, for a total transaction of $49,334.54. Following the completion of the purchase, the chief accounting officer now directly owns 5,096 shares of the company’s stock, valued at approximately $237,626.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Ancius acquired 1,000 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were purchased at an average price of $51.00 per share, for a total transaction of $51,000.00. Following the purchase, the director now directly owns 27,587 shares of the company’s stock, valued at $1,406,937. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 3,971 shares of company stock worth $195,441. 0.40% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Fastenal Price Performance
Shares of NASDAQ FAST opened at $51.08 on Wednesday. Fastenal has a 1-year low of $45.68 and a 1-year high of $64.75. The business has a 50-day moving average of $50.57 and a 200-day moving average of $53.56. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.71 and a quick ratio of 1.75. The company has a market capitalization of $29.35 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 3.04 and a beta of 1.22.
Fastenal (NASDAQ:FAST – Get Rating) last issued its earnings results on Wednesday, July 13th. The company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. Fastenal had a return on equity of 33.47% and a net margin of 15.70%. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business earned $0.42 earnings per share. The company’s revenue was up 18.0% compared to the same quarter last year. On average, equities analysts anticipate that Fastenal will post 1.88 EPS for the current fiscal year.
Fastenal announced that its Board of Directors has initiated a stock buyback plan on Tuesday, July 12th that permits the company to buyback 8,000,000 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
Fastenal Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Investors of record on Wednesday, July 27th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Tuesday, July 26th. Fastenal’s dividend payout ratio (DPR) is 69.27%.
Fastenal Company 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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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