Kathmere Capital Management LLC Sells 1,972 Shares of Fastenal (NASDAQ:FAST)

Kathmere Capital Management LLC decreased its position in shares of Fastenal (NASDAQ:FAST) by 25.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,634 shares of the company’s stock after selling 1,972 shares during the quarter. Kathmere Capital Management LLC’s holdings in Fastenal were worth $365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of FAST. Pinnacle Associates Ltd. increased its holdings in Fastenal by 2.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 8,771 shares of the company’s stock worth $568,000 after purchasing an additional 201 shares in the last quarter. Fifth Third Bancorp raised its position in Fastenal by 4.1% in the 4th quarter. Fifth Third Bancorp now owns 30,694 shares of the company’s stock valued at $1,988,000 after buying an additional 1,211 shares during the last quarter. AdvisorNet Financial Inc raised its position in Fastenal by 38.9% in the 4th quarter. AdvisorNet Financial Inc now owns 2,260 shares of the company’s stock valued at $146,000 after buying an additional 633 shares during the last quarter. Ballentine Partners LLC lifted its stake in Fastenal by 67.8% during the 4th quarter. Ballentine Partners LLC now owns 12,664 shares of the company’s stock valued at $820,000 after acquiring an additional 5,117 shares in the last quarter. Finally, KG&L Capital Management LLC purchased a new position in Fastenal during the 4th quarter worth $427,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FAST. Stephens reissued an “equal weight” rating and set a $56.00 price target on shares of Fastenal in a research report on Monday, July 15th. Stifel Nicolaus reaffirmed a “buy” rating and set a $80.00 price target (down from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Robert W. Baird cut their price objective on Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Loop Capital reduced their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Finally, Jefferies Financial Group cut their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and a consensus price target of $66.67.

Fastenal Price Performance

Shares of FAST traded down $0.11 during mid-day trading on Friday, reaching $67.30. 3,847,400 shares of the stock traded hands, compared to its average volume of 3,602,243. The company has a market cap of $38.54 billion, a price-to-earnings ratio of 33.48, a price-to-earnings-growth ratio of 3.65 and a beta of 1.01. Fastenal has a 1 year low of $53.83 and a 1 year high of $79.04. The firm has a fifty day moving average price of $65.51 and a 200 day moving average price of $69.08. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, July 12th. The company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the business earned $0.52 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts predict that Fastenal will post 2.05 earnings per share for the current year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, July 26th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Friday, July 26th. Fastenal’s dividend payout ratio is currently 77.61%.

Insider Buying and Selling at Fastenal

In related news, EVP James C. Jansen sold 11,428 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total value of $732,191.96. Following the completion of the transaction, the executive vice president now directly owns 26,176 shares in the company, valued at $1,677,096.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP James C. Jansen sold 11,428 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total value of $732,191.96. Following the completion of the sale, the executive vice president now owns 26,176 shares in the company, valued at approximately $1,677,096.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hsenghung Sam Hsu acquired 500 shares of the stock in a transaction dated Monday, June 10th. The stock was acquired at an average price of $63.28 per share, with a total value of $31,640.00. Following the completion of the acquisition, the director now owns 3,500 shares in the company, valued at approximately $221,480. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by company insiders.

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.