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American International Group Inc. acquires 743 shares of Fastenal (NASDAQ:FAST)


American International Group Inc. increased its stake in shares of Fastenal (NASDAQ:FAST – Free Report) by 0.4% in the fourth quarter, according to the most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,683 shares of the company, after purchasing an additional 743 shares during the quarter. The interests of American International Group Inc. in Fastenal were worth $12,739,000 at the end of the most recent quarter.

Several other institutional investors have also recently changed their shareholdings. Hartford Financial Management Inc. increased its holdings in shares of Fastenal by 46.9% in the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000, after purchasing an additional 153 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Fastenal worth approximately $35,000 in the 4th quarter. Criterion Capital Advisors LLC bought a new stake in Fastenal in the fourth quarter valued at approximately $43,000. First Horizon Advisors Inc. expanded its position in Fastenal by 283.2% during the fourth quarter. First Horizon Advisors Inc. now owns 755 shares of the company, valued at $49,000, after acquiring another 558 shares last quarter. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Fastenal during the fourth quarter valued at approximately $52,000. 81.38% of the shares are currently held by institutional investors.

Insider buying and selling at Fastenal

In related news, Director Daniel L. Johnson purchased 3,350 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average price of $68.38 per share, for a total value of $229,073.00. Following the purchase, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Daniel L. Johnson purchased 3,350 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average price of $68.38 per share, for a total value of $229,073.00. Following the transaction, the director now owns 10,595 shares of the company’s stock, valued at $724,486.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Hsenghung Sam Hsu purchased 500 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at $221,480. The explanation for this purchase can be found here. Insiders own 0.41% of the company’s shares.

Fastenal Stock Performance

Shares of NASDAQ:FAST opened at $63.05 on Monday. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $67.13 and a 200-day moving average of $68.49. The company has a market cap of $36.10 billion, a price-to-earnings ratio of 31.21, a price-to-earnings growth ratio of 3.35, and a beta of 1.02. Fastenal has a 12-month low of $53.83 and a 12-month high of $79.04.

Fastenal (NASDAQ:FAST – Get Free Report) last reported its quarterly results on Thursday, April 11. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company’s revenue rose 1.9% year over year this quarter. During the same period last year, the company earned $0.52 earnings per share. As a group, equity analysts expect Fastenal to post earnings per share of 2.09 this year.

Fastenal announces dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23. Well-known investors received a $0.39 dividend on Thursday, April 25. This represents a dividend of $1.56 annually and a yield of 2.47%. The ex-dividend date of this dividend was Wednesday, April 24. Fastenal’s dividend payout ratio (DPR) currently stands at 77.23%.

Wall Street analysts weigh in

A number of equity research analysts have recently released reports on FAST stock. Robert W. Baird lowered his price objective on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7. Loop Capital lowered their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15. Stifel Nicolaus raised their price objective on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18. Finally, HSBC raised their price target on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday, April 15. Five analysts have rated the stock with a hold rating and one analyst has given a buy rating to the company. Based on data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and a consensus price target of $68.80.

Check out our latest research report on FAST

Mounting profile

(Free report)

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 fastening products include threaded fasteners, bolts, nuts, screws, studs and related washers used in fabricated products and construction projects, as well as in the maintenance and repair of machinery.

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Quarterly Institutional Ownership for Fastenal (NASDAQ:FAST)



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