Bfsg LLC Lowers Position in Fastenal (NASDAQ:FAST)

Bfsg LLC cut its holdings in shares of Fastenal (NASDAQ:FAST) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,021 shares of the company’s stock after selling 370 shares during the quarter. Bfsg LLC’s holdings in Fastenal were worth $4,082,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Fastenal by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company’s stock worth $751,780,000 after purchasing an additional 423,112 shares during the period. Morgan Stanley grew its holdings in shares of Fastenal by 4.1% during the 3rd quarter. Morgan Stanley now owns 8,582,669 shares of the company’s stock worth $468,957,000 after purchasing an additional 337,168 shares during the period. Northern Trust Corp boosted its holdings in Fastenal by 5.9% during the 3rd quarter. Northern Trust Corp now owns 7,444,498 shares of the company’s stock valued at $406,767,000 after acquiring an additional 413,572 shares during the period. Invesco Ltd. boosted its holdings in Fastenal by 16.5% during the 3rd quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock valued at $368,563,000 after acquiring an additional 957,091 shares during the period. Finally, Royal Bank of Canada boosted its holdings in Fastenal by 9.3% during the 3rd quarter. Royal Bank of Canada now owns 6,651,629 shares of the company’s stock valued at $363,445,000 after acquiring an additional 568,372 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Stock Down 0.3 %

Shares of FAST traded down $0.23 during midday trading on Thursday, hitting $67.51. The company had a trading volume of 703,129 shares, compared to its average volume of 3,989,125. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. Fastenal has a 1 year low of $52.28 and a 1 year high of $79.04. The firm has a market capitalization of $38.65 billion, a P/E ratio of 33.53, a P/E/G ratio of 3.53 and a beta of 1.05. The company’s 50-day simple moving average is $73.49 and its 200-day simple moving average is $66.64.

Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the business posted $0.52 EPS. Fastenal’s revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that Fastenal will post 2.12 EPS for the current year.

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is 77.23%.

Insiders Place Their Bets

In other news, Director Daniel L. Johnson purchased 3,350 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were bought at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the transaction, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Daniel L. Johnson bought 3,350 shares of the stock in a transaction on Wednesday, April 17th. The shares were bought at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the purchase, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Anthony Paul Broersma sold 5,586 shares of Fastenal stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total value of $387,333.24. The disclosure for this sale can be found here. Insiders have sold a total of 36,082 shares of company stock valued at $2,584,060 over the last quarter. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Stifel Nicolaus raised their target price on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. Robert W. Baird lowered their target price on Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Loop Capital lowered their target price on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Finally, HSBC lifted their price objective on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Fastenal presently has an average rating of “Hold” and an average target price of $67.67.

About Fastenal

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.