Eads & Heald Investment Counsel reduced its position in Fastenal Co. (NASDAQ:FAST) by 2.2% during the second quarter, Holdings Channel reports. The firm owned 18,144 shares of the company’s stock after selling 405 shares during the period. Eads & Heald Investment Counsel’s holdings in Fastenal were worth $805,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of FAST. Ngam Advisors L.P. raised its position in shares of Fastenal by 52.6% in the first quarter. Ngam Advisors L.P. now owns 26,251 shares of the company’s stock worth $1,286,000 after buying an additional 9,050 shares during the period. Prudential Financial Inc. raised its position in shares of Fastenal by 2.9% in the first quarter. Prudential Financial Inc. now owns 357,903 shares of the company’s stock worth $17,537,000 after buying an additional 10,130 shares during the period. Aviva PLC raised its position in shares of Fastenal by 1.2% in the first quarter. Aviva PLC now owns 133,840 shares of the company’s stock worth $6,558,000 after buying an additional 1,565 shares during the period. BB&T Securities LLC raised its position in shares of Fastenal by 235.9% in the first quarter. BB&T Securities LLC now owns 309,729 shares of the company’s stock worth $15,176,000 after buying an additional 217,522 shares during the period. Finally, Zebra Capital Management LLC raised its position in shares of Fastenal by 22.1% in the first quarter. Zebra Capital Management LLC now owns 23,288 shares of the company’s stock worth $1,141,000 after buying an additional 4,216 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.
Fastenal Co. (NASDAQ:FAST) traded down 0.60% during mid-day trading on Tuesday, hitting $38.04. The stock had a trading volume of 818,610 shares. The company has a 50-day moving average price of $41.13 and a 200 day moving average price of $43.84. The company has a market cap of $10.99 billion, a P/E ratio of 21.74 and a beta of 0.99. Fastenal Co. has a 1-year low of $35.10 and a 1-year high of $49.99.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, October 11th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by $0.01. The company earned $1.01 billion during the quarter. Fastenal had a net margin of 12.61% and a return on equity of 26.84%. Fastenal’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 earnings per share. Equities research analysts forecast that Fastenal Co. will post $1.74 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, October 25th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Friday, October 21st. Fastenal’s dividend payout ratio is currently 69.77%.
A number of equities analysts have issued reports on the company. Morgan Stanley assumed coverage on Fastenal in a research note on Thursday, July 7th. They set an “equal weight” rating and a $46.00 price target for the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $47.00 price target on shares of Fastenal in a research note on Wednesday, July 13th. Zacks Investment Research lowered Fastenal from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 14th. Macquarie assumed coverage on Fastenal in a research note on Thursday, August 25th. They set a “neutral” rating and a $50.00 price target for the company. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Fastenal in a research note on Sunday, September 4th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the stock. Fastenal presently has an average rating of “Hold” and an average target price of $47.15.
In related news, Director Michael J. Ancius purchased 700 shares of the stock in a transaction that occurred on Thursday, October 13th. The stock was acquired at an average price of $38.82 per share, with a total value of $27,174.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.78% of the stock is currently owned by corporate insiders.
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.
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