Leavell Investment Management Inc. grew its position in Fastenal (NASDAQ:FAST) by 100.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,130 shares of the company’s stock after acquiring an additional 12,565 shares during the quarter. Leavell Investment Management Inc.’s holdings in Fastenal were worth $819,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of FAST. Investors Research Corp bought a new stake in shares of Fastenal in the 1st quarter valued at approximately $26,000. Strategy Asset Managers LLC acquired a new position in Fastenal during the 1st quarter valued at approximately $32,000. Trustcore Financial Services LLC acquired a new position in Fastenal during the 1st quarter valued at approximately $43,000. AdvisorNet Financial Inc boosted its position in Fastenal by 483.9% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,524 shares of the company’s stock valued at $50,000 after purchasing an additional 1,263 shares during the period. Finally, Bremer Bank National Association acquired a new position in Fastenal during the 1st quarter valued at approximately $53,000. Institutional investors and hedge funds own 85.36% of the company’s stock.
Shares of FAST stock opened at $31.53 on Wednesday. The company has a quick ratio of 2.13, a current ratio of 4.68 and a debt-to-equity ratio of 0.25. Fastenal has a 1 year low of $24.00 and a 1 year high of $35.94. The stock’s fifty day simple moving average is $31.71. The firm has a market cap of $18.14 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 1.43 and a beta of 1.25.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, July 25th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.88 dividend on an annualized basis and a yield of 2.79%. Fastenal’s dividend payout ratio (DPR) is presently 66.67%.
In other Fastenal news, insider John Lewis Soderberg sold 30,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $70.62, for a total transaction of $2,118,600.00. Following the completion of the transaction, the insider now owns 30,000 shares in the company, valued at approximately $2,118,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Ancius purchased 1,104 shares of Fastenal stock in a transaction on Thursday, July 18th. The shares were acquired at an average price of $30.13 per share, with a total value of $33,263.52. The disclosure for this purchase can be found here. Insiders own 0.62% of the company’s stock.
A number of research analysts recently issued reports on the company. Morgan Stanley set a $207.00 price objective on Alibaba Group and gave the company a “buy” rating in a research report on Friday, July 12th. William Blair restated a “market perform” rating on shares of Luminex in a research report on Tuesday, May 7th. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. ValuEngine lowered Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Finally, Northcoast Research lowered Fastenal from a “buy” rating to a “neutral” rating in a research report on Monday, April 15th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $31.36.
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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