Alta Capital Management LLC lowered its position in Fastenal Co. (NASDAQ:FAST) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 943,492 shares of the company’s stock after selling 1,509 shares during the period. Fastenal makes up 2.5% of Alta Capital Management LLC’s portfolio, making the stock its 21st largest position. Alta Capital Management LLC’s holdings in Fastenal were worth $39,419,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in FAST. Arizona State Retirement System increased its position in Fastenal by 0.8% in the first quarter. Arizona State Retirement System now owns 107,575 shares of the company’s stock valued at $5,271,000 after buying an additional 900 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Fastenal by 6.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 42,307 shares of the company’s stock valued at $2,073,000 after buying an additional 2,714 shares during the last quarter. Euclid Advisors LLC bought a new position in Fastenal during the first quarter valued at about $547,000. First Republic Investment Management Inc. increased its position in Fastenal by 22.5% in the first quarter. First Republic Investment Management Inc. now owns 28,842 shares of the company’s stock valued at $1,412,000 after buying an additional 5,301 shares during the last quarter. Finally, Integrated Investment Consultants LLC increased its position in Fastenal by 18.3% in the second quarter. Integrated Investment Consultants LLC now owns 7,435 shares of the company’s stock valued at $331,000 after buying an additional 1,150 shares during the last quarter. 76.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Fastenal Co. (NASDAQ:FAST) traded down 0.140% during midday trading on Monday, hitting $46.305. 821,025 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $41.23 and its 200 day moving average price is $42.89. The firm has a market cap of $13.38 billion, a PE ratio of 26.953 and a beta of 0.92. Fastenal Co. has a one year low of $35.10 and a one year high of $49.99.
Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, October 11th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by $0.01. The company 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 business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. Equities research analysts forecast that Fastenal Co. will post $1.71 EPS for the current year.
The business also recently announced 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 annualized dividend and a dividend yield of 2.60%. Fastenal’s payout ratio is currently 69.77%.
FAST has been the topic of several recent analyst reports. Vetr downgraded shares of Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 price objective on the stock. in a report on Tuesday, September 6th. Zacks Investment Research raised shares of Fastenal from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. BMO Capital Markets set a $45.00 target price on shares of Fastenal and gave the company a “hold” rating in a research report on Wednesday, October 12th. Argus cut shares of Fastenal from a “buy” rating to a “hold” rating in a research report on Friday, October 14th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $45.00 target price on shares of Fastenal in a research report on Thursday, October 13th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $47.93.
In related news, Director Michael J. Ancius bought 700 shares of the firm’s stock in a transaction on Thursday, October 13th. The shares were bought at an average cost of $38.82 per share, for a total transaction of $27,174.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.78% of the company’s stock.
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.