Teacher Retirement System of Texas increased its stake in Fastenal (NASDAQ:FAST) by 179.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 806,583 shares of the company’s stock after purchasing an additional 518,387 shares during the period. Teacher Retirement System of Texas owned 0.14% of Fastenal worth $26,287,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Flagship Harbor Advisors LLC grew its holdings in Fastenal by 176.8% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,362 shares of the company’s stock worth $44,000 after acquiring an additional 870 shares during the period. DAVENPORT & Co LLC grew its holdings in Fastenal by 90.0% during the 2nd quarter. DAVENPORT & Co LLC now owns 22,916 shares of the company’s stock worth $747,000 after acquiring an additional 10,858 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Fastenal by 131.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,910 shares of the company’s stock worth $193,000 after acquiring an additional 3,355 shares during the period. GWM Advisors LLC grew its holdings in Fastenal by 19.1% during the 2nd quarter. GWM Advisors LLC now owns 184,254 shares of the company’s stock worth $6,005,000 after acquiring an additional 29,525 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Fastenal by 31.1% during the 1st quarter. SG Americas Securities LLC now owns 5,675 shares of the company’s stock worth $365,000 after acquiring an additional 1,345 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.
A number of analysts have commented on the stock. Buckingham Research lowered their target price on shares of Fastenal from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Wells Fargo & Co lowered their target price on shares of Fastenal from $35.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, July 12th. William Blair lowered shares of Fastenal from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 7th. Raymond James lowered their target price on shares of Fastenal from $39.00 to $37.00 and set a “strong-buy” rating for the company in a report on Friday, July 12th. Finally, ValuEngine lowered shares of Fastenal from a “sell” rating to a “strong sell” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $31.36.
Shares of FAST stock traded down $0.20 on Thursday, hitting $30.57. The stock had a trading volume of 27,858 shares, compared to its average volume of 4,570,452. Fastenal has a twelve month low of $24.00 and a twelve month high of $35.94. The firm has a market cap of $17.64 billion, a P/E ratio of 23.16, a PEG ratio of 1.39 and a beta of 1.22. The company has a current ratio of 4.68, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average price of $30.64 and a two-hundred day moving average price of $49.54.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Thursday, July 11th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). Fastenal had a net margin of 14.74% and a return on equity of 32.27%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm earned $0.37 EPS. Fastenal’s quarterly revenue was up 7.9% on a year-over-year basis. On average, analysts expect that Fastenal will post 1.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, July 25th will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.88 annualized dividend and a yield of 2.88%. Fastenal’s dividend payout ratio is currently 66.67%.
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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