Fastenal Company $FAST Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC decreased its stake in shares of Fastenal Company (NASDAQ:FAST) by 38.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,848 shares of the company’s stock after selling 22,013 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Fastenal were worth $1,398,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of Fastenal during the fourth quarter worth about $496,000. Integrated Wealth Concepts LLC lifted its holdings in shares of Fastenal by 2.4% during the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Fastenal during the second quarter worth about $158,000. Jump Financial LLC acquired a new stake in shares of Fastenal during the second quarter worth about $2,199,000. Finally, Cary Street Partners Financial LLC lifted its holdings in shares of Fastenal by 111.0% during the second quarter. Cary Street Partners Financial LLC now owns 3,367 shares of the company’s stock worth $141,000 after purchasing an additional 1,771 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

FAST has been the subject of a number of research reports. Benchmark reaffirmed a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. Wolfe Research decreased their target price on Fastenal from $46.00 to $45.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. Raymond James Financial set a $48.00 target price on Fastenal in a report on Thursday, March 5th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $42.00 target price on shares of Fastenal in a report on Tuesday, April 14th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fastenal has an average rating of “Hold” and a consensus target price of $49.77.

Insiders Place Their Bets

In related news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the transaction, the director directly owned 40,000 shares in the company, valued at approximately $1,893,600. This trade represents a 48.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.28% of the company’s stock.

Fastenal Stock Down 0.4%

Shares of FAST stock opened at $44.17 on Friday. The stock has a 50 day moving average of $45.63 and a 200 day moving average of $43.62. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The stock has a market cap of $50.71 billion, a P/E ratio of 38.75, a P/E/G ratio of 2.83 and a beta of 0.75. Fastenal Company has a twelve month low of $38.97 and a twelve month high of $50.63.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.Fastenal’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. As a group, sell-side analysts expect that Fastenal Company will post 1.23 EPS for the current year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, April 28th. Fastenal’s dividend payout ratio (DPR) is currently 84.21%.

About Fastenal

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.