Fastenal (NASDAQ:FAST) Shares Sold by TFG Advisers LLC

TFG Advisers LLC trimmed its holdings in shares of Fastenal (NASDAQ:FAST) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,767 shares of the company’s stock after selling 379 shares during the quarter. TFG Advisers LLC’s holdings in Fastenal were worth $555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in FAST. Aaron Wealth Advisors LLC purchased a new stake in shares of Fastenal during the third quarter worth about $310,000. BI Asset Management Fondsmaeglerselskab A S grew its position in Fastenal by 98.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 118,301 shares of the company’s stock worth $9,126,000 after purchasing an additional 58,726 shares during the last quarter. Empowered Funds LLC grew its position in Fastenal by 205.4% during the 1st quarter. Empowered Funds LLC now owns 27,181 shares of the company’s stock worth $2,097,000 after purchasing an additional 18,281 shares during the last quarter. Cetera Investment Advisers increased its stake in Fastenal by 499.7% during the 1st quarter. Cetera Investment Advisers now owns 132,046 shares of the company’s stock valued at $10,186,000 after purchasing an additional 110,027 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Fastenal by 7.2% in the first quarter. Nordea Investment Management AB now owns 1,371,825 shares of the company’s stock worth $106,316,000 after buying an additional 91,754 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fastenal

In related news, insider William Joseph Drazkowski sold 16,362 shares of Fastenal stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.65, for a total value of $1,270,509.30. Following the completion of the transaction, the insider now owns 5,997 shares in the company, valued at $465,667.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider William Joseph Drazkowski sold 16,362 shares of Fastenal stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.65, for a total value of $1,270,509.30. Following the sale, the insider now owns 5,997 shares of the company’s stock, valued at approximately $465,667.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony Paul Broersma sold 680 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The disclosure for this sale can be found here. Insiders have sold a total of 179,373 shares of company stock valued at $13,029,308 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

Fastenal Stock Performance

FAST stock traded down $0.82 during trading on Wednesday, hitting $75.72. 187,931 shares of the company traded hands, compared to its average volume of 3,351,136. The stock’s 50-day simple moving average is $70.37 and its 200 day simple moving average is $67.93. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. The company has a market cap of $43.35 billion, a PE ratio of 38.08, a P/E/G ratio of 4.13 and a beta of 1.01. Fastenal has a 1 year low of $56.41 and a 1 year high of $79.04.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period in the previous year, the firm earned $0.52 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities analysts expect that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.06%. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FAST shares. Stifel Nicolaus reissued a “buy” rating and set a $86.00 price objective (up from $80.00) on shares of Fastenal in a report on Monday, October 14th. Robert W. Baird increased their price objective on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Morgan Stanley raised their price objective on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Jefferies Financial Group dropped their target price on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.33.

About Fastenal

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.