SG Americas Securities LLC increased its position in Fastenal (NASDAQ:FAST – Get Rating) by 112.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 33,135 shares of the company’s stock after buying an additional 17,552 shares during the period. SG Americas Securities LLC’s holdings in Fastenal were worth $1,968,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of FAST. National Bank of Canada FI bought a new position in Fastenal in the 4th quarter worth $2,030,000. Signaturefd LLC boosted its holdings in Fastenal by 16.7% in the 4th quarter. Signaturefd LLC now owns 6,051 shares of the company’s stock worth $388,000 after buying an additional 868 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Fastenal by 5.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,215 shares of the company’s stock worth $270,000 after buying an additional 218 shares during the period. Van ECK Associates Corp boosted its holdings in Fastenal by 1.6% in the 4th quarter. Van ECK Associates Corp now owns 67,531 shares of the company’s stock worth $4,326,000 after buying an additional 1,091 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in Fastenal by 1.9% in the 4th quarter. Brown Advisory Inc. now owns 100,266 shares of the company’s stock worth $6,423,000 after buying an additional 1,842 shares during the period. Institutional investors own 77.89% of the company’s stock.
Fastenal Stock Down 0.3 %
Shares of NASDAQ FAST opened at $48.30 on Tuesday. The firm’s 50-day moving average price is $50.79 and its 200-day moving average price is $53.95. The company has a current ratio of 3.71, a quick ratio of 1.75 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $27.80 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.87 and a beta of 1.27. Fastenal has a 12-month low of $45.68 and a 12-month high of $64.75.
Fastenal Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24th. Investors of record on Wednesday, July 27th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Tuesday, July 26th. Fastenal’s dividend payout ratio (DPR) is currently 69.27%.
Fastenal declared that its Board of Directors has approved a share buyback program on Tuesday, July 12th that authorizes the company to repurchase 8,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Wall Street Analysts Forecast Growth
FAST has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Fastenal from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, April 14th. Argus dropped their price objective on shares of Fastenal from $66.00 to $55.00 and set a “buy” rating for the company in a report on Friday, July 15th. Robert W. Baird downgraded shares of Fastenal from an “outperform” rating to a “neutral” rating and set a $48.00 price objective for the company. in a report on Thursday, July 14th. StockNews.com downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. Finally, Morgan Stanley dropped their price objective on shares of Fastenal from $48.00 to $42.00 and set an “underweight” rating for the company in a report on Thursday, July 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fastenal currently has an average rating of “Hold” and a consensus target price of $53.86.
Insider Buying and Selling
In other news, CAO Sheryl Ann Lisowski acquired 1,058 shares of Fastenal stock in a transaction that occurred on Thursday, July 14th. The shares were bought at an average cost of $46.63 per share, with a total value of $49,334.54. Following the transaction, the chief accounting officer now directly owns 5,096 shares of the company’s stock, valued at approximately $237,626.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Sheryl Ann Lisowski bought 1,058 shares of the company’s stock in a transaction on Thursday, July 14th. The shares were acquired at an average cost of $46.63 per share, for a total transaction of $49,334.54. Following the purchase, the chief accounting officer now directly owns 5,096 shares of the company’s stock, valued at $237,626.48. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James C. Jansen bought 1,000 shares of the company’s stock in a transaction on Wednesday, June 15th. The stock was bought at an average price of $48.92 per share, for a total transaction of $48,920.00. Following the completion of the purchase, the executive vice president now directly owns 26,176 shares in the company, valued at $1,280,529.92. The disclosure for this purchase can be found here. Insiders have bought 3,971 shares of company stock valued at $195,441 in the last ninety days. 0.40% of the stock is owned by company insiders.
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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