North Star Investment Management Corp. continued to hold its position in shares of Fastenal Co. (NASDAQ:FAST) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,000 shares of the company’s stock at the end of the third quarter. North Star Investment Management Corp.’s holdings in Fastenal were worth $209,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Exxonmobil Investment Management Inc. TX boosted its position in Fastenal by 6.4% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 74,777 shares of the company’s stock worth $3,319,000 after buying an additional 4,529 shares during the last quarter. DNB Asset Management AS boosted its position in Fastenal by 7.6% in the second quarter. DNB Asset Management AS now owns 24,072 shares of the company’s stock worth $1,069,000 after buying an additional 1,700 shares during the last quarter. Washington Trust Bank boosted its position in 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 last quarter. Curbstone Financial Management Corp boosted its position in Fastenal by 3.2% in the second quarter. Curbstone Financial Management Corp now owns 10,866 shares of the company’s stock worth $482,000 after buying an additional 340 shares during the last quarter. Finally, Cacti Asset Management LLC bought a new position in Fastenal during the second quarter worth $328,000. 81.67% of the stock is currently owned by institutional investors and hedge funds.
Fastenal Co. (NASDAQ:FAST) traded up 0.28% during trading on Friday, hitting $46.37. The stock had a trading volume of 538,363 shares. Fastenal Co. has a 12 month low of $35.10 and a 12 month high of $49.99. The company has a market cap of $13.40 billion, a PE ratio of 26.99 and a beta of 0.92. The company’s 50 day moving average is $41.23 and its 200-day moving average is $42.89.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, October 11th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $1.01 billion for the quarter. Fastenal had a return on equity of 26.84% and a net margin of 12.61%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 EPS. On average, equities research analysts predict that Fastenal Co. will post $1.71 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Tuesday, October 25th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, October 21st. This represents a $1.20 dividend on an annualized basis and a yield of 2.59%. Fastenal’s dividend payout ratio is currently 69.77%.
FAST has been the topic of a number of analyst reports. Vetr cut Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 price objective on the stock. in a research report on Tuesday, September 6th. Zacks Investment Research raised Fastenal from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. BMO Capital Markets set a $45.00 target price on Fastenal and gave the company a “hold” rating in a research note on Wednesday, October 12th. Argus downgraded Fastenal from a “buy” rating to a “hold” rating in a research note on Friday, October 14th. Finally, Robert W. Baird reissued a “neutral” rating and set a $45.00 target price on shares of Fastenal in a research note on Thursday, October 13th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the stock. Fastenal presently has a consensus rating of “Hold” and a consensus price target of $47.93.
In other Fastenal news, Director Michael J. Ancius purchased 700 shares of the stock in a transaction on Thursday, October 13th. The shares were bought at an average price of $38.82 per share, for a total transaction of $27,174.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.78% of the company’s stock.
Fastenal Company Profile
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.