Economy

Fastenal Company (FAST) Shares Bought by Renaissance Technologies LLC

Shares of Fastenal Company (NASDAQ FAST) opened at 47.94 on Wednesday. Krilogy Financial LLC now owns 3,530 shares of the company's stock valued at $154,000 after purchasing an additional 70 shares during the period. The Texas-based Mcgowan Group Asset Management Inc. has invested 0.1% in the stock. Verition Fund Management LLC purchased a new stake in shares of Fastenal in the second quarter worth approximately $745,000. Grandeur Peak Global Advisors LLC lifted its position in shares of Fastenal by 106.3% in the second quarter. Old Natl National Bank & Trust In has invested 0.02% of its portfolio in Fastenal Company (NASDAQ:FAST). Parametric Portfolio Associates LLC lifted its holdings in shares of Fastenal by 9.9% in the second quarter. Narrowing in a bit closer, the 5 month price index is 0.88944, the 3 month is 0.97383, and the 1 month is now 0.92689. The company moved in the past week with shift of 8.85%.

The price target set for the stock is $126.00 and this sets up an interesting set of potential movement for the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Commonwealth Bank of Australia now owns 2,429 shares of the company's stock valued at $104,000 after purchasing an additional 753 shares during the period. The stock was sold at an average price of $43.01, for a total transaction of $344,080.00.

The company now has an insider ownership of 0.28 Percent and Institutional ownership of 86.8 Percent. The disclosure for this purchase can be found here. Renaissance Technologies Ltd Com owns 0.03% invested in Fastenal Company (NASDAQ:FAST) for 606,544 shares. Stock Yards National Bank & Trust & Tru holds 5,700 shares. A low current ratio (when the current liabilities are higher than the current assets) indicates that the company may have trouble paying their short term obligations. FAST's latest closing price was 5.29% away from the average price of 200 days while it maintained a distance of 10.91% from the 50 Day Moving Average and 6.24% away compared to its SMA 20. Fastenal Company (NASDAQ:FAST) has declined 2.09% since October 19, 2016 and is downtrending.

As analysts monitor volatile markets in recent weeks they have updated their price targets on shares of Fastenal Company (NASDAQ:FAST). It has a Return on Investment (ROI) of -46.30% and a gross margin of -6.80%. Additionally, the price to earnings ratio is another popular way for analysts and investors to determine a company's profitability. The value of the investment in (FAST) went from $2,000 to $22,000 a change of 1,000.0% since the last quarter. The business's quarterly revenue was up 11.8% compared to the same quarter past year. During the same period in the previous year, the firm posted $0.44 earnings per share.

Fastenal declared that its board has approved a stock repurchase program on Tuesday, July 11th that permits the company to repurchase 5,000,000 shares. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Tuesday, October 24th. Fastenal's dividend payout ratio (DPR) is presently 68.09%. Sii Invests Wi has invested 0.02% in Fastenal Company (NASDAQ:FAST).

A number of other equities research analysts have also issued reports on the stock. The firm earned "Hold" rating on Monday, October 9 by BMO Capital Markets. Wells Fargo & Company reissued a "market perform" rating and issued a $47.00 price target (down from $51.00) on shares of Fastenal in a report on Wednesday, July 12th. Finally, BidaskClub raised shares of Fastenal from a "sell" rating to a "hold" rating in a research report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. The mean target price as estimated by the analysts for the company has been recorded at $50.50.

COPYRIGHT VIOLATION WARNING: "Koch Industries Inc". The legal version of this report can be accessed at https://www.truebluetribune.com/2017/10/18/144160-shares-in-fastenal-company-fast-purchased-by-beacon-financial-group.html. If you are accessing this piece on another site, it was illegally stolen and republished in violation of USA & worldwide copyright and trademark law.

What Historical Figures Say About Fastenal Company (NASDAQ: FAST)?

Fastenal Company sells industrial and construction supplies grouped into eleven product lines. The traditional Fastenal® product line consists of threaded fasteners and other miscellaneous supplies. The ATR may be used by market technicians to enter and exit trades, and it is a useful tool to add to a trading system.



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