Corient Capital Partners LLC Sells 1,519 Shares of Fastenal (NASDAQ:FAST)

Corient Capital Partners LLC decreased its stake in shares of Fastenal (NASDAQ:FASTGet Rating) by 8.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,760 shares of the company’s stock after selling 1,519 shares during the period. Corient Capital Partners LLC’s holdings in Fastenal were worth $837,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Fastenal by 78.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 511 shares of the company’s stock worth $26,000 after buying an additional 224 shares during the period. O Dell Group LLC bought a new stake in Fastenal in the 1st quarter valued at about $32,000. TCI Wealth Advisors Inc. boosted its holdings in Fastenal by 53.0% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 956 shares of the company’s stock valued at $48,000 after purchasing an additional 331 shares during the period. SouthState Corp boosted its holdings in Fastenal by 33.5% in the 2nd quarter. SouthState Corp now owns 1,088 shares of the company’s stock valued at $54,000 after purchasing an additional 273 shares during the period. Finally, Glassman Wealth Services boosted its holdings in Fastenal by 27.1% in the 2nd quarter. Glassman Wealth Services now owns 1,120 shares of the company’s stock valued at $56,000 after purchasing an additional 239 shares during the period. Institutional investors own 78.18% of the company’s stock.

Insider Buying and Selling

In other Fastenal news, Director Stephen L. Eastman purchased 1,000 shares of the firm’s stock in a transaction on Friday, October 14th. The stock was purchased at an average cost of $43.88 per share, for a total transaction of $43,880.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $438,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Fastenal news, Director Stephen L. Eastman purchased 1,000 shares of the firm’s stock in a transaction on Friday, October 14th. The stock was purchased at an average cost of $43.88 per share, for a total transaction of $43,880.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $438,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel L. Florness acquired 4,000 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were purchased at an average price of $48.00 per share, with a total value of $192,000.00. Following the completion of the transaction, the chief executive officer now owns 281,929 shares of the company’s stock, valued at $13,532,592. The disclosure for this purchase can be found here. Insiders purchased a total of 6,500 shares of company stock worth $306,425 in the last three months. 0.40% of the stock is owned by corporate insiders.

Fastenal Price Performance

FAST stock opened at $52.41 on Thursday. The company has a 50 day simple moving average of $48.14 and a 200 day simple moving average of $50.26. The stock has a market cap of $30.02 billion, a price-to-earnings ratio of 28.03, a P/E/G ratio of 3.10 and a beta of 1.18. Fastenal has a 1 year low of $43.73 and a 1 year high of $64.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.98 and a quick ratio of 1.89.

Fastenal (NASDAQ:FASTGet Rating) last released its quarterly earnings data on Thursday, October 13th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Fastenal had a net margin of 15.73% and a return on equity of 34.25%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. Research analysts anticipate that Fastenal will post 1.88 EPS for the current fiscal year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Thursday, October 27th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Wednesday, October 26th. Fastenal’s dividend payout ratio is 66.31%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FAST. Jefferies Financial Group reissued a “hold” rating and issued a $50.00 price objective on shares of Fastenal in a report on Monday, October 17th. StockNews.com downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a report on Saturday, October 15th. Finally, Morgan Stanley upped their price target on shares of Fastenal from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Friday, October 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.86.

Fastenal Profile

(Get Rating)

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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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