Rothschild Asset Management Inc. Takes Position in Fastenal Company (FAST)
Rothschild Asset Management Inc. bought a new position in shares of Fastenal Company (NASDAQ:FAST) during the first quarter, Holdings Channel reports. The firm bought 10,199 shares of the company’s stock, valued at approximately $525,000.
Other large investors also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its stake in Fastenal Company by 0.3% in the first quarter. Parkside Financial Bank & Trust now owns 2,937 shares of the company’s stock valued at $152,000 after buying an additional 9 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Fastenal Company during the fourth quarter valued at about $169,000. Advisory Services Network LLC acquired a new stake in Fastenal Company during the first quarter valued at about $191,000. Hengehold Capital Management LLC acquired a new stake in Fastenal Company during the first quarter valued at about $203,000. Finally, Van ECK Associates Corp raised its stake in Fastenal Company by 5.4% in the fourth quarter. Van ECK Associates Corp now owns 4,521 shares of the company’s stock valued at $212,000 after buying an additional 230 shares during the last quarter. 82.77% of the stock is owned by institutional investors.
Shares of Fastenal Company (NASDAQ:FAST) traded up 1.72% on Friday, reaching $44.40. 4,430,570 shares of the company traded hands. The stock has a 50 day moving average of $44.03 and a 200 day moving average of $47.92. Fastenal Company has a 52-week low of $37.70 and a 52-week high of $52.74. The stock has a market cap of $12.84 billion, a price-to-earnings ratio of 25.37 and a beta of 0.91.
Fastenal Company (NASDAQ:FAST) last announced its quarterly earnings results on Wednesday, April 12th. The company reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Fastenal Company had a net margin of 12.61% and a return on equity of 26.39%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share. On average, analysts expect that Fastenal Company will post $1.87 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 24th. Shareholders of record on Wednesday, April 26th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Monday, April 24th. Fastenal Company’s dividend payout ratio is currently 73.14%.
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FAST has been the subject of several analyst reports. Longbow Research raised shares of Fastenal Company from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Friday, June 2nd. Credit Suisse Group set a $52.00 price objective on shares of Fastenal Company and gave the company a “buy” rating in a research note on Thursday, May 4th. Raymond James Financial, Inc. raised shares of Fastenal Company from a “market perform” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday, April 19th. Zacks Investment Research raised shares of Fastenal Company from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Tuesday, March 21st. Finally, Argus raised shares of Fastenal Company from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Tuesday, April 18th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Fastenal Company presently has a consensus rating of “Hold” and a consensus target price of $50.03.
In other news, Director Darren R. Jackson purchased 5,000 shares of the business’s stock in a transaction on Friday, April 28th. The stock was purchased at an average price of $44.75 per share, for a total transaction of $223,750.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Holden Lewis purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was purchased at an average price of $43.76 per share, with a total value of $43,760.00. Following the purchase, the chief financial officer now owns 1,000 shares of the company’s stock, valued at $43,760. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 6,700 shares of company stock valued at $299,343. Corporate insiders own 0.55% of the company’s stock.
Fastenal Company Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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