Gyroscope Capital Management Group LLC boosted its holdings in Fastenal (NASDAQ:FAST) by 17.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,698 shares of the company’s stock after buying an additional 1,132 shares during the quarter. Gyroscope Capital Management Group LLC’s holdings in Fastenal were worth $420,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in FAST. Wolverine Asset Management LLC acquired a new stake in Fastenal in the fourth quarter valued at about $104,000. Signaturefd LLC acquired a new stake in Fastenal in the first quarter valued at about $117,000. Institutional & Family Asset Management LLC acquired a new stake in Fastenal in the first quarter valued at about $122,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Fastenal by 87.8% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,500 shares of the company’s stock valued at $135,000 after buying an additional 1,169 shares in the last quarter. Finally, Lucia Wealth Services LLC acquired a new stake in Fastenal in the first quarter valued at about $143,000. 85.49% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on the company. BidaskClub raised Fastenal from a “hold” rating to a “buy” rating in a research note on Saturday, May 19th. KeyCorp reissued a “buy” rating on shares of Fastenal in a research note on Friday, April 13th. Zacks Investment Research lowered Fastenal from a “buy” rating to a “hold” rating in a research note on Friday, April 13th. Wells Fargo & Co set a $49.00 price target on Fastenal and gave the company a “hold” rating in a research note on Thursday, April 12th. Finally, Stephens reissued a “buy” rating and set a $60.00 price target on shares of Fastenal in a research note on Wednesday, April 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $54.67.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, April 11th. The company reported $0.61 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.61. Fastenal had a return on equity of 28.69% and a net margin of 13.66%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the company earned $0.46 earnings per share. The firm’s revenue was up 13.2% compared to the same quarter last year. research analysts anticipate that Fastenal will post 2.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 23rd. Stockholders of record on Wednesday, April 25th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, April 24th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.84%. Fastenal’s dividend payout ratio (DPR) is 76.68%.
In other Fastenal news, insider Terry Modock Owen bought 2,000 shares of the stock in a transaction on Wednesday, June 6th. The stock was acquired at an average cost of $51.85 per share, for a total transaction of $103,700.00. Following the completion of the acquisition, the insider now owns 2,000 shares in the company, valued at approximately $103,700. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Holden Lewis bought 1,000 shares of the stock in a transaction on Monday, April 30th. The stock was acquired at an average price of $50.28 per share, with a total value of $50,280.00. Following the completion of the acquisition, the chief financial officer now owns 3,000 shares of the company’s stock, valued at approximately $150,840. The disclosure for this purchase can be found here. Insiders have bought 4,155 shares of company stock valued at $211,378 over the last 90 days. 0.56% of the stock is owned by corporate insiders.
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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