Gratus Capital LLC lessened its holdings in Fastenal (NASDAQ:FAST) by 4.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,845 shares of the company’s stock after selling 1,040 shares during the quarter. Gratus Capital LLC’s holdings in Fastenal were worth $1,442,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Delta Asset Management LLC TN raised its stake in Fastenal by 3,540.7% in the third quarter. Delta Asset Management LLC TN now owns 3,131 shares of the company’s stock valued at $182,000 after purchasing an additional 3,045 shares in the last quarter. Canton Hathaway LLC acquired a new position in Fastenal during the third quarter worth about $186,000. Meyer Handelman Co. acquired a new position in Fastenal during the third quarter worth about $203,000. Atria Investments LLC acquired a new position in Fastenal during the third quarter worth about $222,000. Finally, Advisor Partners LLC acquired a new position in Fastenal during the third quarter worth about $223,000. 84.37% of the stock is owned by institutional investors.
Several research analysts have recently issued reports on the company. BidaskClub raised Fastenal from a “hold” rating to a “buy” rating in a research note on Tuesday, August 21st. ValuEngine downgraded Fastenal from a “buy” rating to a “hold” rating in a research note on Wednesday, October 17th. Buckingham Research assumed coverage on Fastenal in a research note on Monday, October 22nd. They issued a “neutral” rating and a $50.00 price objective for the company. Northcoast Research reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Fastenal in a research note on Friday, July 27th. Finally, Zacks Investment Research raised Fastenal from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Wednesday, October 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Fastenal has an average rating of “Hold” and a consensus price target of $56.40.
Shares of FAST stock opened at $56.73 on Friday. Fastenal has a one year low of $47.37 and a one year high of $61.14. The company has a market capitalization of $16.28 billion, a P/E ratio of 29.39, a P/E/G ratio of 1.56 and a beta of 1.01. The company has a current ratio of 5.35, a quick ratio of 2.48 and a debt-to-equity ratio of 0.17.
Fastenal (NASDAQ:FAST) last announced its earnings results on Wednesday, October 10th. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. Fastenal had a return on equity of 32.29% and a net margin of 15.25%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Fastenal will post 2.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, October 24th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Tuesday, October 23rd. Fastenal’s payout ratio is presently 82.90%.
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Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as 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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