First Financial Bank Trust Division Cuts Holdings in Fastenal (NASDAQ:FAST)

First Financial Bank Trust Division reduced its position in Fastenal (NASDAQ:FAST) by 2.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 172,743 shares of the company’s stock after selling 3,717 shares during the period. First Financial Bank Trust Division’s holdings in Fastenal were worth $8,685,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its stake in Fastenal by 16.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 262,891 shares of the company’s stock worth $11,854,000 after acquiring an additional 37,588 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Fastenal in the fourth quarter valued at $2,028,000. Bradley Mark J. bought a new stake in Fastenal in the fourth quarter worth $3,643,000. Mariner LLC raised its stake in Fastenal by 4.2% during the fourth quarter. Mariner LLC now owns 496,758 shares of the company’s stock valued at $24,256,000 after purchasing an additional 20,191 shares in the last quarter. Finally, M&T Bank Corp lifted its position in Fastenal by 0.5% during the fourth quarter. M&T Bank Corp now owns 137,094 shares of the company’s stock valued at $6,693,000 after purchasing an additional 643 shares during the last quarter. Institutional investors own 77.13% of the company’s stock.

In other news, Director Michael J. Ancius acquired 600 shares of Fastenal stock in a transaction on Thursday, January 21st. The shares were bought at an average cost of $48.42 per share, for a total transaction of $29,052.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffery Michael Watts sold 31,000 shares of Fastenal stock in a transaction on Monday, March 15th. The shares were sold at an average price of $48.20, for a total value of $1,494,200.00. Following the sale, the insider now directly owns 31,000 shares of the company’s stock, valued at $1,494,200. The disclosure for this sale can be found here. Insiders have purchased a total of 6,950 shares of company stock valued at $327,042 in the last quarter. 0.57% of the stock is currently owned by company insiders.

Several analysts have recently issued reports on FAST shares. Morgan Stanley upped their target price on shares of Fastenal from $47.00 to $49.00 and gave the company an “equal weight” rating in a research report on Thursday, January 21st. Deutsche Bank Aktiengesellschaft downgraded Fastenal from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research report on Wednesday, December 16th. Finally, Zacks Investment Research cut Fastenal from a “hold” rating to a “sell” rating and set a $54.00 target price for the company. in a report on Monday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Fastenal has a consensus rating of “Hold” and an average price target of $45.70.

Shares of NASDAQ FAST traded down $0.06 during midday trading on Thursday, hitting $49.87. The company’s stock had a trading volume of 9,307 shares, compared to its average volume of 3,428,156. Fastenal has a 12-month low of $31.64 and a 12-month high of $51.89. The company has a current ratio of 4.39, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13. The firm has a market cap of $28.64 billion, a P/E ratio of 34.20, a price-to-earnings-growth ratio of 3.69 and a beta of 1.21. The business’s 50 day moving average is $47.85 and its two-hundred day moving average is $47.46.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, January 19th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Fastenal had a return on equity of 30.63% and a net margin of 15.12%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the firm posted $0.31 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. On average, analysts predict that Fastenal will post 1.47 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 3rd. Investors of record on Wednesday, February 3rd were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, February 2nd. This is an increase from Fastenal’s previous quarterly dividend of $0.25. Fastenal’s dividend payout ratio (DPR) is currently 81.16%.

Fastenal Company Profile

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 fastener products include threaded fasteners, 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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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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