Fastenal (NASDAQ:FAST) Holdings Lifted by Cibc World Market Inc.

Cibc World Market Inc. increased its stake in Fastenal (NASDAQ:FASTGet Rating) by 1.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 21,960 shares of the company’s stock after acquiring an additional 416 shares during the period. Cibc World Market Inc.’s holdings in Fastenal were worth $1,096,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FAST. Penserra Capital Management LLC lifted its position in Fastenal by 7.6% in the 1st quarter. Penserra Capital Management LLC now owns 2,767 shares of the company’s stock worth $164,000 after buying an additional 196 shares in the last quarter. TCM Advisors LLC lifted its holdings in Fastenal by 0.8% during the 2nd quarter. TCM Advisors LLC now owns 25,200 shares of the company’s stock valued at $1,258,000 after purchasing an additional 200 shares during the last quarter. Sittner & Nelson LLC lifted its holdings in Fastenal by 0.6% during the 1st quarter. Sittner & Nelson LLC now owns 35,667 shares of the company’s stock valued at $2,119,000 after purchasing an additional 209 shares during the last quarter. Cetera Advisors LLC lifted its holdings in Fastenal by 1.4% during the 1st quarter. Cetera Advisors LLC now owns 15,851 shares of the company’s stock valued at $942,000 after purchasing an additional 224 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Fastenal by 78.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 511 shares of the company’s stock worth $26,000 after acquiring an additional 224 shares during the last quarter. 78.18% of the stock is currently owned by institutional investors.

Fastenal Stock Up 0.1 %

Fastenal stock opened at $51.66 on Monday. The stock has a market capitalization of $29.59 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 3.06 and a beta of 1.18. Fastenal has a twelve month low of $43.73 and a twelve month high of $64.75. The company has a quick ratio of 1.89, a current ratio of 3.98 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $48.02 and a 200-day moving average of $50.28.

Fastenal (NASDAQ:FASTGet Rating) last announced its quarterly earnings data on Thursday, October 13th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.78 billion. Fastenal had a net margin of 15.73% and a return on equity of 34.25%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. On average, equities research analysts anticipate that Fastenal will post 1.88 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. Stockholders of record on Thursday, October 27th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Wednesday, October 26th. Fastenal’s dividend payout ratio is presently 66.31%.

Insider Transactions at Fastenal

In other Fastenal news, Director Stephen L. Eastman acquired 1,000 shares of the business’s stock in a transaction dated Friday, October 14th. The shares were acquired at an average price of $43.88 per share, with a total value of $43,880.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $438,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Fastenal news, Director Stephen L. Eastman acquired 1,000 shares of the business’s stock in a transaction dated Friday, October 14th. The shares were acquired at an average price of $43.88 per share, with a total value of $43,880.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $438,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel L. Florness purchased 4,000 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were purchased at an average cost of $48.00 per share, for a total transaction of $192,000.00. Following the completion of the transaction, the chief executive officer now directly owns 281,929 shares of the company’s stock, valued at approximately $13,532,592. The disclosure for this purchase can be found here. Insiders have acquired a total of 6,500 shares of company stock valued at $306,425 over the last 90 days. 0.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FAST shares. Jefferies Financial Group restated a “hold” rating and set a $50.00 price objective on shares of Fastenal in a report on Monday, October 17th. StockNews.com cut shares of Fastenal from a “buy” rating to a “hold” rating in a report on Saturday, October 15th. Finally, Morgan Stanley boosted their price objective on shares of Fastenal from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Friday, October 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $51.86.

About Fastenal

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal (NASDAQ:FASTGet Rating).

Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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.