Economy

Schwartz Investment Counsel Inc. Boosts Stake in Fastenal Company

Among 17 analysts covering Fastenal (NASDAQ:FAST), 9 have Buy rating, 0 Sell and 8 Hold. The company's cost-saving initiative Pathway-to-Profit bode well.

Several equities analysts have issued reports on FAST shares. Wells Fargo & Co. reaffirmed a "hold" rating on shares of Fastenal in a research note on Sunday, September 4th. Robert W. Baird raised shares of Fastenal from a "neutral" rating to an "outperform" rating and set a $53.00 price objective for the company in a research report on Wednesday, July 12th. BMO Capital Markets maintained the shares of TGT in report on Thursday, July 13 with "Hold" rating. UBS AG upgraded Fastenal from an "outperform" rating to a "strong-buy" rating in a research note on Thursday, July 13th. Morgan Stanley restated an "equal weight" rating on shares of Fastenal in a research report on Tuesday, July 11th.

Among 26 analysts covering Target Corporation (NYSE:TGT), 7 have Buy rating, 3 Sell and 16 Hold. The stock now has an average rating of "Buy" and an average target price of $50.80. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of USA and global copyright law. Fastenal Company (NASDAQ:FAST) has declined 2.09% since November 9, 2016 and is downtrending. Provident accumulated 2.07% or 988,616 shares. The firm's 50 day moving average price is $44.26 and its 200-day moving average price is $43.07. The stock of Fastenal Company (NASDAQ:FAST) has "Hold" rating given on Friday, October 14 by Argus Research. Fastenal Company has a 12-month low of $39.78 and a 12-month high of $52.74.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, October 11th. The company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. Fastenal's revenue for the quarter was up 1.8% on a year-over-year basis. The firm's revenue for the quarter was up 11.8% compared to the same quarter previous year. During the same period in the prior year, the firm earned $0.44 earnings per share. analysts predict that Fastenal Company will post 1.93 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. 1St Glob Advsrs accumulated 25,157 shares or 0.13% of the stock. The ex-dividend date is Tuesday, October 24th. Its up 1.87% from 2.71M shares previously. Fastenal's dividend payout ratio (DPR) is now 68.09%.

COPYRIGHT: "Fastenal Co. (FAST) Upgraded to Hold by Zacks Investment Research" was originally reported by and is the propert of of. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of worldwide copyright & trademark legislation. An example of an institutional investor is a hedge fund.

In other Fastenal news, Director Michael John Dolan sold 8,000 shares of the business's stock in a transaction on Tuesday, August 15th. The shares were bought at an average price of $38.82 per share, for a total transaction of $27,174.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

The most recent insider trade was by a Officer named HEIN LELAND J, and it was an direct of 10000 shares - leaving the insider with 10258 shares after the transaction. The stock was sold at an average price of $48.98, for a total value of $2,449,000.00. Parkside Financial Bank & Trust now owns 3,025 shares of the company's stock worth $132,000 after buying an additional 88 shares during the period. The disclosure for this sale can be found here. Inv Services Of America has 1.58% invested in Fastenal Company (NASDAQ:FAST) for 210,079 shares. Compass Capital Management Inc. now owns 446,778 shares of the company's stock valued at $19,832,000 after buying an additional 18,880 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Fastenal by 60.3% in the second quarter. Wilkins Investment Counsel Inc bought 21,100 shares as the company's stock declined 14.06% while stock markets rallied. CA raised its position in Fastenal by 1.7% in the second quarter. The sales growth of the company is 11.80% at the moment, indicating the average sales volume of the company's products and services that have typically improved year-to-year. The Grandeur Peak Global Advisors Llc holds 219,350 shares with $9.55 million value, up from 106,325 last quarter.

"Shares outstanding" refers to the total number of shares of a public company held by any individual or group, including institutional investors as well as company insiders and officers.

It can be helpful for any investor to check out what portion of a company's total shares outstanding are now owned by institutional investors. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.



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