Darwin Advisors LLC acquired a new position in shares of Fastenal (NASDAQ:FAST) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 62,151 shares of the company’s stock, valued at approximately $2,802,000.
Other large investors have also bought and sold shares of the company. Pacitti Group Inc. bought a new stake in Fastenal during the second quarter worth about $26,000. Barrett Asset Management LLC purchased a new position in Fastenal in the second quarter worth about $34,000. Norway Savings Bank purchased a new position in Fastenal in the third quarter worth about $36,000. Balentine LLC purchased a new position in Fastenal in the first quarter worth about $41,000. Finally, Ropes Wealth Advisors LLC raised its holdings in Fastenal by 314.4% in the second quarter. Ropes Wealth Advisors LLC now owns 1,326 shares of the company’s stock worth $57,000 after buying an additional 1,006 shares during the last quarter. 77.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of FAST stock opened at $45.26 on Friday. Fastenal has a 12 month low of $26.72 and a 12 month high of $49.86. The stock has a market cap of $25.96 billion, a P/E ratio of 31.00, a P/E/G ratio of 3.63 and a beta of 1.19. The company has a current ratio of 4.13, a quick ratio of 1.91 and a debt-to-equity ratio of 0.15. The company has a 50 day simple moving average of $45.63 and a two-hundred day simple moving average of $42.19.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. Fastenal’s payout ratio is currently 72.46%.
In other Fastenal news, VP Terry Modock Owen sold 1,250 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $49.53, for a total value of $61,912.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Joseph Drazkowski sold 28,554 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $45.59, for a total transaction of $1,301,776.86. Following the completion of the transaction, the insider now owns 9,330 shares of the company’s stock, valued at $425,354.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,724 shares of company stock valued at $4,473,812. Company insiders own 0.57% of the company’s stock.
Several research analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $46.00 target price on shares of Fastenal in a report on Wednesday, July 15th. BidaskClub cut shares of Fastenal from a “buy” rating to a “hold” rating in a report on Thursday, September 10th. JPMorgan Chase & Co. raised shares of Fastenal from an “underweight” rating to a “neutral” rating and set a $34.00 price objective for the company in a report on Tuesday, June 23rd. Wells Fargo & Company cut shares of Fastenal from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a report on Thursday, September 3rd. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Fastenal from $54.00 to $52.00 in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $44.36.
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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