Burney Co. Sells 1,157 Shares of Fastenal (NASDAQ:FAST)

Burney Co. cut its stake in shares of Fastenal (NASDAQ:FAST) by 18.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,999 shares of the company’s stock after selling 1,157 shares during the quarter. Burney Co.’s holdings in Fastenal were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Fastenal in the third quarter valued at approximately $25,000. Knuff & Co LLC bought a new position in shares of Fastenal in the 3rd quarter valued at $27,000. Moisand Fitzgerald Tamayo LLC lifted its stake in shares of Fastenal by 1,019.0% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after acquiring an additional 428 shares during the last quarter. First Personal Financial Services acquired a new stake in shares of Fastenal during the 3rd quarter valued at $36,000. Finally, CVA Family Office LLC grew its position in Fastenal by 51.0% during the 3rd quarter. CVA Family Office LLC now owns 533 shares of the company’s stock worth $38,000 after acquiring an additional 180 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Insider Transactions at Fastenal

In other news, Director Rita J. Heise sold 10,888 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total transaction of $845,670.96. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $1,553,400. This represents a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel L. Johnson sold 8,474 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total transaction of $706,392.64. Following the transaction, the director now owns 10,595 shares in the company, valued at approximately $883,199.20. The trade was a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,660 shares of company stock valued at $6,211,126 in the last quarter. 0.41% of the stock is currently owned by company insiders.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $76.08 on Friday. The company has a market capitalization of $43.59 billion, a PE ratio of 37.85, a P/E/G ratio of 3.94 and a beta of 1.02. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The firm has a fifty day simple moving average of $77.92 and a 200 day simple moving average of $72.93.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1,842,560.16 billion. During the same period last year, the business posted $0.46 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts forecast that Fastenal will post 2.03 EPS for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.26%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio is presently 77.61%.

Analyst Ratings Changes

Several equities analysts have commented on the company. UBS Group started coverage on Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price for the company. Robert W. Baird raised their price objective on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Jefferies Financial Group upped their price target on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Finally, HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $77.27.

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.