Bfsg LLC Cuts Position in Fastenal (NASDAQ:FAST)

Bfsg LLC reduced its holdings in shares of Fastenal (NASDAQ:FAST) by 11.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,413 shares of the company’s stock after selling 5,983 shares during the quarter. Bfsg LLC’s holdings in Fastenal were worth $3,458,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FAST. MCF Advisors LLC increased its holdings in Fastenal by 2,172.2% in the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after purchasing an additional 391 shares in the last quarter. Central Valley Advisors LLC acquired a new stake in Fastenal in the second quarter valued at approximately $28,000. Moisand Fitzgerald Tamayo LLC raised its stake in shares of Fastenal by 1,019.0% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after purchasing an additional 428 shares during the period. LRI Investments LLC acquired a new position in shares of Fastenal during the first quarter worth $39,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Fastenal in the second quarter valued at $32,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FAST. JPMorgan Chase & Co. lifted their price target on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Bank of America began coverage on Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 price target on the stock. Stephens lifted their price objective on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday. Robert W. Baird increased their target price on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Stifel Nicolaus restated a “buy” rating and issued a $86.00 price target (up previously from $80.00) on shares of Fastenal in a research note on Monday. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Fastenal has an average rating of “Hold” and a consensus price target of $73.33.

Fastenal Stock Up 1.1 %

FAST stock opened at $77.77 on Thursday. The firm has a fifty day moving average price of $69.46 and a two-hundred day moving average price of $67.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. Fastenal has a 1-year low of $56.41 and a 1-year high of $79.04. The firm has a market cap of $44.53 billion, a price-to-earnings ratio of 38.69, a PEG ratio of 4.13 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Research analysts predict that Fastenal will post 2.04 EPS for the current year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s dividend payout ratio (DPR) is 77.61%.

Insider Activity at Fastenal

In other Fastenal news, VP John Lewis Soderberg sold 488 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $76.32, for a total value of $37,244.16. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Sheryl Ann Lisowski sold 13,567 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.19, for a total transaction of $1,033,669.73. Following the completion of the transaction, the chief accounting officer now directly owns 5,096 shares in the company, valued at approximately $388,264.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP John Lewis Soderberg sold 488 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.32, for a total value of $37,244.16. The disclosure for this sale can be found here. Insiders sold 139,799 shares of company stock worth $9,967,510 in the last 90 days. 0.41% of the stock is currently owned by company insiders.

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.