GDS Wealth Management has significantly increased its investment in Fastenal Company, boosting its stake by an impressive 96.7% during the second quarter of 2023. According to data from Holdings Channel.com, GDS now holds 14,033 shares of the company’s stock, following the acquisition of an additional 6,897 shares during the period. The value of GDS’s holdings in Fastenal reached approximately $589,000 at the end of the most recent quarter.
In addition to GDS Wealth Management, several other institutional investors have also made moves in Fastenal’s stock. Brighton Jones LLC entered a new position in the company during the fourth quarter, valued at $496,000. Similarly, the Teachers Retirement System of The State of Kentucky increased its stake by 4.4% in the first quarter, now owning 44,233 shares valued at around $3,430,000. Crestwood Advisors Group LLC also expanded its holdings by 12.2% during the same period, now owning 7,417 shares worth $575,000.
Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Fastenal valued at approximately $7,497,000, while KLP Kapitalforvaltning AS grew its position by 3.9%, now holding 195,748 shares valued at about $15,180,000. Altogether, institutional investors now hold approximately 81.38% of Fastenal’s stock.
Recent Insider Activity
In related news, Fastenal’s Director, Hsenghung Sam Hsu, purchased 1,000 shares on November 13, 2023, at an average price of $49.58 per share, totaling $49,580. This transaction increased Hsu’s total ownership to 10,000 shares, valued at roughly $495,800. This insider purchase was disclosed in a filing with the Securities and Exchange Commission.
Stock Performance and Earnings Report
Fastenal’s stock opened at $39.55 on Thursday, October 14, 2023, reflecting a 1.0% decline. The company maintains a debt-to-equity ratio of 0.03, a current ratio of 4.26, and a quick ratio of 2.19. Over the past year, the stock has fluctuated between a low of $35.31 and a high of $50.63. Fastenal reported a quarterly revenue of $2.13 billion, matching analyst expectations, but the $0.29 earnings per share (EPS) fell short of the consensus estimate of $0.30 by $0.01. The company’s net margin stands at 15.34%, with a return on equity of 32.69%.
Looking ahead, analysts project that Fastenal will achieve an EPS of $2.15 for the current fiscal year.
Fastenal has also announced a quarterly dividend of $0.22 per share, scheduled for payment on November 25, 2023. Shareholders of record by October 28, 2023 will be eligible for this dividend, resulting in an annualized yield of 2.2%. The company’s dividend payout ratio (DPR) is reported at 82.24%.
Fastenal Company, including its subsidiaries, specializes in the wholesale distribution of industrial and construction supplies across regions including the United States, Canada, and Mexico. Their product range includes a variety of fasteners and related supplies essential for manufacturing and construction projects.
Investors interested in the latest holdings and insider activities concerning Fastenal can visit HoldingsChannel.com for comprehensive updates and analysis.
