Van ECK Associates Corp increased its stake in Fastenal (NASDAQ:FAST – Free Report) by 11.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,493 shares of the company’s stock after acquiring an additional 13,039 shares during the quarter. Van ECK Associates Corp’s holdings in Fastenal were worth $9,984,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in FAST. Central Valley Advisors LLC bought a new position in shares of Fastenal in the 2nd quarter worth about $28,000. Triad Wealth Partners LLC bought a new stake in Fastenal in the second quarter worth approximately $32,000. Crewe Advisors LLC lifted its stake in Fastenal by 528.4% in the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after buying an additional 428 shares during the period. Moisand Fitzgerald Tamayo LLC boosted its holdings in shares of Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after buying an additional 428 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Fastenal during the 2nd quarter worth approximately $35,000. 81.38% of the stock is currently owned by institutional investors.
Insider Activity
In related news, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,489,266.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 190,261 shares of company stock valued at $13,874,979 in the last ninety days. 0.41% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Check Out Our Latest Analysis on Fastenal
Fastenal Price Performance
Shares of NASDAQ:FAST opened at $83.57 on Thursday. Fastenal has a 1-year low of $58.28 and a 1-year high of $83.80. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The stock has a market cap of $47.88 billion, a PE ratio of 41.58, a price-to-earnings-growth ratio of 4.58 and a beta of 0.99. The stock’s fifty day simple moving average is $72.67 and its two-hundred day simple moving average is $68.48.
Fastenal (NASDAQ:FAST – Get Free Report) last posted its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the business posted $0.52 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, analysts forecast that Fastenal will post 2.03 EPS for the current fiscal year.
Fastenal Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 1.87%. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.
Fastenal Company Profile
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
See Also
- Five stocks we like better than Fastenal
- What Investors Must Know About Over-the-Counter (OTC) Stocks
- What a Trump Win Looks Like for the Market Now and Into 2025
- What Are Dividend Achievers? An Introduction
- Russell 2000 Surge Post-Election: How to Play the Small-Cap Pop
- Why Are Stock Sectors Important to Successful Investing?
- Macro Headwinds Send Microchip Technology Stock to the Buy Zone
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.