Nicollet Investment Management Inc. acquired a new position in shares of Fastenal (NASDAQ:FAST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,371 shares of the company’s stock, valued at approximately $1,005,000.
Other hedge funds also recently added to or reduced their stakes in the company. Exane Derivatives bought a new position in shares of Fastenal during the 4th quarter worth about $110,000. SeaCrest Wealth Management LLC bought a new position in shares of Fastenal during the 4th quarter worth about $115,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Fastenal during the 3rd quarter worth about $114,000. Cable Hill Partners LLC bought a new position in shares of Fastenal during the 3rd quarter worth about $126,000. Finally, Krilogy Financial LLC boosted its position in shares of Fastenal by 2.0% during the 2nd quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock worth $154,000 after purchasing an additional 70 shares in the last quarter. 84.40% of the stock is currently owned by institutional investors.
In other Fastenal news, insider Terry Modock Owen sold 30,000 shares of Fastenal stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total transaction of $1,440,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Leland J. Hein sold 10,000 shares of Fastenal stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $51.00, for a total transaction of $510,000.00. Following the transaction, the insider now directly owns 22,588 shares in the company, valued at approximately $1,151,988. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,884 shares of company stock worth $4,059,512. 0.55% of the stock is owned by insiders.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the firm earned $0.40 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. equities analysts expect that Fastenal will post 2.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Wednesday, January 31st will be given a $0.37 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, January 30th. This represents a $1.48 annualized dividend and a yield of 2.78%. Fastenal’s dividend payout ratio (DPR) is presently 73.63%.
FAST has been the topic of a number of research analyst reports. Stephens increased their price objective on shares of Fastenal from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Tuesday, December 26th. Stifel Nicolaus reissued a “hold” rating and set a $51.00 price objective on shares of Fastenal in a research report on Monday, December 11th. KeyCorp reissued a “buy” rating and set a $52.00 price objective on shares of Fastenal in a research report on Thursday, October 12th. Finally, Credit Suisse Group raised shares of Fastenal to a “buy” rating and set a $61.00 price objective on the stock in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $53.29.
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.
Want to see what other hedge funds are holding FAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastenal (NASDAQ:FAST).
Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.