Fastenal Company $FAST Shares Sold by Jacobson & Schmitt Advisors LLC

Jacobson & Schmitt Advisors LLC lowered its position in Fastenal Company (NASDAQ:FAST) by 4.1% in the third quarter, HoldingsChannel reports. The firm owned 275,239 shares of the company’s stock after selling 11,854 shares during the period. Fastenal makes up about 2.3% of Jacobson & Schmitt Advisors LLC’s portfolio, making the stock its 19th biggest holding. Jacobson & Schmitt Advisors LLC’s holdings in Fastenal were worth $13,498,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Fastenal by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock valued at $7,430,322,000 after buying an additional 2,346,045 shares during the period. State Street Corp raised its position in shares of Fastenal by 99.6% during the 2nd quarter. State Street Corp now owns 54,317,385 shares of the company’s stock valued at $2,281,330,000 after buying an additional 27,107,520 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Fastenal by 103.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock valued at $1,931,830,000 after buying an additional 23,380,022 shares during the period. Geode Capital Management LLC lifted its holdings in Fastenal by 103.8% in the second quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock valued at $1,506,141,000 after acquiring an additional 18,329,847 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Fastenal by 87.9% in the second quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock worth $1,463,743,000 after acquiring an additional 16,308,254 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on FAST. Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Wolfe Research reduced their price objective on shares of Fastenal from $43.00 to $42.00 and set an “underperform” rating on the stock in a report on Wednesday, January 21st. UBS Group reaffirmed a “neutral” rating and issued a $46.00 target price on shares of Fastenal in a research report on Wednesday, January 21st. Finally, Robert W. Baird increased their target price on shares of Fastenal from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $48.18.

Fastenal Price Performance

FAST stock opened at $45.46 on Wednesday. The business’s fifty day moving average price is $43.69 and its 200 day moving average price is $44.39. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $52.20 billion, a PE ratio of 41.33, a P/E/G ratio of 2.87 and a beta of 0.89.

Fastenal (NASDAQ:FAST) last announced its earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.Fastenal’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. On average, sell-side analysts anticipate that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, January 29th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, January 29th. Fastenal’s dividend payout ratio (DPR) is presently 87.27%.

Insider Buying and Selling at Fastenal

In related news, Director Scott Satterlee sold 15,964 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the sale, the director directly owned 50,000 shares of the company’s stock, valued at $2,209,500. This represents a 24.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.