Fastenal (NASDAQ:FAST) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. cut its holdings in Fastenal (NASDAQ:FAST) by 43.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,571 shares of the company’s stock after selling 4,309 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Fastenal were worth $361,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of FAST. Hartford Financial Management Inc. boosted its stake in Fastenal by 46.9% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after purchasing an additional 153 shares during the period. Resurgent Financial Advisors LLC acquired a new position in Fastenal during the 4th quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Fastenal during the 4th quarter valued at about $35,000. Sunbelt Securities Inc. boosted its stake in Fastenal by 131.7% during the 2nd quarter. Sunbelt Securities Inc. now owns 600 shares of the company’s stock valued at $35,000 after purchasing an additional 341 shares during the period. Finally, Quarry LP boosted its stake in Fastenal by 184.9% during the 1st quarter. Quarry LP now owns 678 shares of the company’s stock valued at $37,000 after purchasing an additional 440 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Performance

Shares of FAST opened at $67.50 on Friday. The company’s 50 day moving average price is $73.67 and its 200 day moving average price is $66.21. Fastenal has a 52 week low of $52.28 and a 52 week high of $79.04. The company has a market capitalization of $38.63 billion, a PE ratio of 33.42, a PEG ratio of 3.59 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Research analysts expect that Fastenal will post 2.13 EPS for the current fiscal year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Wednesday, April 24th. Fastenal’s payout ratio is presently 77.23%.

Insiders Place Their Bets

In other Fastenal news, Director Daniel L. Johnson bought 3,350 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was bought at an average cost of $68.38 per share, with a total value of $229,073.00. Following the completion of the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Fastenal news, insider William Joseph Drazkowski sold 11,968 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $69.10, for a total value of $826,988.80. Following the completion of the sale, the insider now directly owns 5,997 shares of the company’s stock, valued at $414,392.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel L. Johnson bought 3,350 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was acquired at an average cost of $68.38 per share, with a total value of $229,073.00. Following the completion of the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at $724,486.10. The disclosure for this purchase can be found here. Insiders sold 71,640 shares of company stock valued at $5,044,657 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

FAST has been the subject of a number of analyst reports. Loop Capital reduced their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday. Robert W. Baird dropped their price target on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Stifel Nicolaus boosted their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, HSBC boosted their price target on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $67.67.

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 that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.