Prudential Financial Inc. increased its stake in Fastenal Co. (NASDAQ:FAST) by 11.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,803 shares of the company’s stock after buying an additional 41,900 shares during the period. Prudential Financial Inc. owned approximately 0.14% of Fastenal worth $17,747,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FAST. American Research & Management Co. raised its position in Fastenal by 191.5% in the second quarter. American Research & Management Co. now owns 2,740 shares of the company’s stock valued at $122,000 after buying an additional 1,800 shares in the last quarter. Washington Trust Bank raised its stake in shares of Fastenal by 2.3% in the second quarter. Washington Trust Bank now owns 2,762 shares of the company’s stock worth $123,000 after buying an additional 62 shares during the period. FineMark National Bank & Trust raised its stake in shares of Fastenal by 0.6% in the second quarter. FineMark National Bank & Trust now owns 3,420 shares of the company’s stock worth $152,000 after buying an additional 20 shares during the period. Integrated Wealth Management raised its stake in shares of Fastenal by 80.7% in the second quarter. Integrated Wealth Management now owns 3,610 shares of the company’s stock worth $160,000 after buying an additional 1,612 shares during the period. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Fastenal during the second quarter worth $203,000. Hedge funds and other institutional investors own 82.12% of the company’s stock.
Shares of Fastenal Co. (NASDAQ:FAST) traded up 0.22% during trading on Wednesday, reaching $40.48. The company’s stock had a trading volume of 197,236 shares. The firm has a market cap of $11.70 billion, a PE ratio of 23.13 and a beta of 0.90. Fastenal Co. has a 12 month low of $34.45 and a 12 month high of $49.99. The company’s 50 day moving average price is $42.27 and its 200 day moving average price is $44.60.
Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, July 12th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by $0.03. Fastenal had a return on equity of 27.83% and a net margin of 12.91%. The firm earned $1.01 billion during the quarter. During the same period in the previous year, the firm posted $0.48 earnings per share. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities analysts predict that Fastenal Co. will post $1.74 earnings per share for the current year.
A number of brokerages have recently weighed in on FAST. Wells Fargo & Co. restated a “hold” rating on shares of Fastenal in a research note on Sunday, September 4th. Zacks Investment Research lowered Fastenal from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 14th. Macquarie began coverage on Fastenal in a research note on Thursday, August 25th. They issued a “neutral” rating and a $50.00 target price for the company. Credit Suisse Group AG restated a “neutral” rating and issued a $43.00 target price on shares of Fastenal in a research note on Friday, June 17th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $47.00 target price on shares of Fastenal in a research note on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.44.
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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