PrairieView Partners LLC Invests $203,000 in Fastenal (FAST)

PrairieView Partners LLC purchased a new stake in Fastenal (NASDAQ:FAST) in the fourth quarter, Holdings Channel reports. The firm purchased 3,709 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FAST. Thrivent Financial For Lutherans raised its position in Fastenal by 3.6% during the second quarter. Thrivent Financial For Lutherans now owns 11,420 shares of the company’s stock valued at $498,000 after purchasing an additional 400 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Fastenal by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 984,300 shares of the company’s stock valued at $42,841,000 after purchasing an additional 70,281 shares in the last quarter. QS Investors LLC raised its position in Fastenal by 1.6% during the second quarter. QS Investors LLC now owns 4,051 shares of the company’s stock valued at $176,000 after purchasing an additional 63 shares in the last quarter. Janus Henderson Group PLC raised its position in Fastenal by 357.0% during the second quarter. Janus Henderson Group PLC now owns 1,822,655 shares of the company’s stock valued at $79,340,000 after purchasing an additional 1,423,856 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in Fastenal by 12.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 95,756 shares of the company’s stock valued at $4,168,000 after purchasing an additional 10,713 shares in the last quarter. Institutional investors own 84.40% of the company’s stock.

Fastenal (NASDAQ FAST) opened at $52.15 on Friday. The stock has a market cap of $15,312.03, a price-to-earnings ratio of 25.95, a PEG ratio of 1.52 and a beta of 1.03. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.40 and a current ratio of 5.51. Fastenal has a 1-year low of $39.79 and a 1-year high of $57.81.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 earnings per share. research analysts predict that Fastenal will post 2.5 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Wednesday, January 31st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This is an increase from Fastenal’s previous quarterly dividend of $0.32. This represents a $1.48 annualized dividend and a dividend yield of 2.84%. Fastenal’s dividend payout ratio is 73.63%.

In related news, insider Terry Modock Owen sold 30,000 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total value of $1,440,600.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charles S. Miller sold 26,250 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the completion of the sale, the insider now directly owns 26,250 shares in the company, valued at approximately $1,483,125. The disclosure for this sale can be found here. Insiders have sold 78,884 shares of company stock valued at $4,059,512 over the last quarter. Company insiders own 0.55% of the company’s stock.

FAST has been the subject of several research analyst reports. KeyCorp restated a “buy” rating and set a $52.00 price objective on shares of Fastenal in a research report on Thursday, October 12th. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Friday, January 19th. Credit Suisse Group upgraded shares of Fastenal to a “buy” rating and set a $61.00 price objective for the company in a research report on Thursday, January 18th. Stephens boosted their price objective on shares of Fastenal from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Finally, Robert W. Baird restated a “buy” rating on shares of Fastenal in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $53.29.

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Fastenal 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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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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