Fastenal Co. (FAST) Position Cut by Exxonmobil Investment Management Inc. TX
Exxonmobil Investment Management Inc. TX decreased its stake in Fastenal Co. (NASDAQ:FAST) by 1.3% during the third quarter, Holdings Channel reports. The institutional investor owned 73,783 shares of the company’s stock after selling 994 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Fastenal were worth $3,083,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. PacWest Financial Management Inc boosted its position in Fastenal by 0.7% in the second quarter. PacWest Financial Management Inc now owns 36,845 shares of the company’s stock valued at $1,636,000 after buying an additional 265 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in Fastenal by 2.6% in the second quarter. Gulf International Bank UK Ltd now owns 83,976 shares of the company’s stock valued at $3,727,000 after buying an additional 2,100 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in Fastenal by 1.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 246,841 shares of the company’s stock valued at $10,957,000 after buying an additional 3,331 shares in 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 valued at $1,069,000 after buying an additional 1,700 shares in the last quarter. Finally, 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 valued at $123,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 76.20% of the company’s stock.
Shares of Fastenal Co. (NASDAQ:FAST) traded up 0.83% during midday trading on Wednesday, reaching $47.40. The company’s stock had a trading volume of 3,695,012 shares. Fastenal Co. has a one year low of $35.10 and a one year high of $49.99. The company has a market capitalization of $13.70 billion, a P/E ratio of 27.59 and a beta of 0.92. The stock’s 50-day moving average is $41.34 and its 200-day moving average is $42.84.
Fastenal (NASDAQ:FAST) last posted 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 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS. On average, equities analysts expect that Fastenal Co. will post $1.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Tuesday, October 25th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, October 21st. This represents a $1.20 annualized dividend and a yield of 2.53%. Fastenal’s payout ratio is 69.77%.
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Several equities analysts have weighed in on FAST shares. Zacks Investment Research upgraded Fastenal from a “sell” rating to a “hold” rating in a report on Friday, November 25th. BMO Capital Markets restated a “hold” rating and set a $45.00 price target on shares of Fastenal in a report on Monday, November 7th. Argus cut Fastenal from a “buy” rating to a “hold” rating in a report on Friday, October 14th. Vetr cut Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 price target for the company. in a report on Tuesday, September 6th. Finally, Wells Fargo & Co. restated a “hold” rating on shares of Fastenal in a report on Sunday, September 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $47.93.
In related news, EVP Leland J. Hein sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $46.15, for a total value of $46,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael J. Ancius acquired 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 disclosure for this purchase can be found here. 0.78% of the stock is owned by corporate insiders.
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.
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