Fmr LLC Sells 224,210 Shares of Fastenal (NASDAQ:FAST)

14 days ago

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Fmr LLC Sells 224210 Shares of Fastenal NASDAQFAST

Fmr LLC trimmed its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 25.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 671,732 shares of the comp

FMR LLC trimmed its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 25.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 671,732 shares of the company's stock after selling 224,210 shares during the quarter. FMR LLC owned about 0.12% of Fastenal worth $47,975,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Fastenal during the third quarter worth about $25,000. Knuff & Co LLC acquired a new position in shares of Fastenal in the third quarter worth approximately $27,000. Moisand Fitzgerald Tamayo LLC grew its holdings in Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company's stock worth $34,000 after acquiring an additional 428 shares during the period. First Personal Financial Services bought a new position in shares of Fastenal during the 3rd quarter worth approximately $36,000. Finally, Triad Wealth Partners LLC bought a new position in Fastenal during the second quarter worth $32,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $81.05 on Friday. Fastenal has a 1-year low of $61.33 and a 1-year high of $84.88. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The stock has a market cap of $46.43 billion, a PE ratio of 40.32, a price-to-earnings-growth ratio of 4.81 and a beta of 1.00. The stock's fifty day simple moving average is $78.63 and its two-hundred day simple moving average is $70.85.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.90 billion. During the same period in the previous year, the company earned $0.52 earnings per share. The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, analysts forecast that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, October 25th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, October 25th. Fastenal's dividend payout ratio is presently 77.61%.

Insider Activity at Fastenal

In related news, EVP Anthony Paul Broersma sold 680 shares of the firm's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Charles S. Miller sold 23,480 shares of the business's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total transaction of $1,970,441.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 208,289 shares of company stock valued at $16,123,438. 0.41% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FAST. Stephens increased their price objective on shares of Fastenal from $56.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their price target on Fastenal from $57.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Jefferies Financial Group raised their price objective on Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a research note on Friday. Morgan Stanley upped their target price on Fastenal from $72.00 to $76.00 and gave the stock an "equal weight" rating in a research report on Monday, October 14th. Finally, Stifel Nicolaus reissued a "buy" rating and issued a $86.00 price target (up previously from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $76.80.

Check Out Our Latest Analysis on Fastenal

Fastenal Company Profile

(Free Report)

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.