Capital City Trust Co. FL Cuts Stock Position in Fastenal (NASDAQ:FAST)

Capital City Trust Co. FL decreased its holdings in shares of Fastenal (NASDAQ:FAST) by 13.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,515 shares of the company’s stock after selling 2,924 shares during the period. Capital City Trust Co. FL’s holdings in Fastenal were worth $1,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in FAST. Ashton Thomas Securities LLC acquired a new position in Fastenal in the 3rd quarter valued at $25,000. Central Valley Advisors LLC acquired a new stake in shares of Fastenal in the second quarter valued at about $28,000. Triad Wealth Partners LLC purchased a new position in shares of Fastenal in the second quarter worth about $32,000. Crewe Advisors LLC boosted its position in Fastenal by 528.4% during the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock worth $32,000 after acquiring an additional 428 shares during the last quarter. Finally, Moisand Fitzgerald Tamayo LLC lifted its stake in Fastenal by 1,019.0% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after purchasing an additional 428 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley increased their price target on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Robert W. Baird lifted their price target on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Stephens upped their price objective on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $86.00 target price (up from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and a consensus target price of $74.80.

Fastenal Stock Down 0.4 %

Shares of NASDAQ FAST opened at $81.85 on Monday. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $74.96 and its two-hundred day moving average is $69.24. Fastenal has a 52-week low of $59.47 and a 52-week high of $84.88. The firm has a market cap of $46.89 billion, a price-to-earnings ratio of 40.72, a PEG ratio of 4.80 and a beta of 0.99.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. Fastenal’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. Research analysts predict that Fastenal will post 2.03 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

Insider Buying and Selling

In other Fastenal news, CAO Sheryl Ann Lisowski sold 13,567 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were 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 owns 5,096 shares in the company, valued at $388,264.24. The trade was a 72.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,489,266.52. This represents a 13.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,033 shares of company stock valued at $19,240,434 in the last ninety days. Company insiders own 0.41% of the company’s stock.

Fastenal 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.