Parallax Volatility Advisers L.P. Sells 6,983 Shares of Fastenal (NASDAQ:FAST)

Parallax Volatility Advisers L.P. decreased its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 27.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,419 shares of the company's stock after selling 6,983 shares during the period. Parallax Volatility Advisers L.P.'s holdings in Fastenal were worth $1,315,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Fastenal in the third quarter valued at approximately $25,000. Knuff & Co LLC bought a new stake in shares of Fastenal during the 3rd quarter valued at $27,000. Central Valley Advisors LLC bought a new position in shares of Fastenal in the second quarter worth $28,000. Triad Wealth Partners LLC acquired a new position in Fastenal in the second quarter valued at about $32,000. Finally, Crewe Advisors LLC grew its stake 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 buying an additional 428 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Fastenal Trading Down 0.9 %

Shares of FAST stock traded down $0.71 on Friday, hitting $81.05. The company had a trading volume of 2,581,905 shares, compared to its average volume of 3,253,915. Fastenal has a twelve month low of $61.33 and a twelve month high of $84.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. The firm has a market cap of $46.43 billion, a P/E ratio of 40.32, a P/E/G ratio of 4.85 and a beta of 1.00. The stock's 50-day moving average is $78.44 and its two-hundred day moving average is $70.72.

Fastenal (NASDAQ:FAST - Get Free Report) last posted its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period in the prior year, the firm posted $0.52 EPS. The company's quarterly revenue was up 3.5% on a year-over-year basis. On average, equities research analysts anticipate that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, October 25th were given 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 (DPR) is presently 77.61%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FAST shares. Bank of America initiated coverage on shares of Fastenal in a research report on Monday, October 7th. They set a "buy" rating and a $85.00 price target on the stock. Stephens raised their target price on Fastenal from $56.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, October 14th. UBS Group began coverage on Fastenal in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $88.00 price objective on the stock. Robert W. Baird boosted their target price on Fastenal from $67.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday, October 14th. Finally, Stifel Nicolaus restated a "buy" rating and issued a $86.00 price target (up from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $76.80.

View Our Latest Report on FAST

Insider Activity

In other Fastenal news, insider William Joseph Drazkowski sold 16,362 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now owns 5,997 shares of the company's stock, valued at approximately $465,667.05. This trade represents a 73.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Sheryl Ann Lisowski sold 13,567 shares of the company'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 value of $1,033,669.73. Following the transaction, the chief accounting officer now directly owns 5,096 shares in the company, valued at $388,264.24. The trade was a 72.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,289 shares of company stock valued at $16,123,438 in the last ninety days. 0.41% of the stock is owned by company insiders.

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.

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