VIRGINIA RETIREMENT SYSTEMS ET Al Sells 207,800 Shares of Fastenal Company $FAST

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its position in shares of Fastenal Company (NASDAQ:FAST) by 23.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 683,484 shares of the company’s stock after selling 207,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Fastenal were worth $27,428,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. REAP Financial Group LLC bought a new stake in shares of Fastenal during the 3rd quarter worth $30,000. Field & Main Bank bought a new stake in shares of Fastenal during the 4th quarter worth $30,000. First Horizon Corp bought a new stake in shares of Fastenal during the 3rd quarter worth $33,000. Manning & Napier Advisors LLC bought a new stake in shares of Fastenal during the 3rd quarter worth $35,000. Finally, Tradewinds Capital Management LLC bought a new stake in shares of Fastenal during the 4th quarter worth $35,000. 81.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a report on Friday, March 27th. Barclays upped their price objective on shares of Fastenal from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Robert W. Baird decreased their price target on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Bank of America raised their price target on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Finally, Benchmark restated a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. Five research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $49.77.

Fastenal Price Performance

NASDAQ:FAST opened at $43.77 on Thursday. The company has a market capitalization of $50.25 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 2.76 and a beta of 0.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39. The company has a 50-day moving average of $45.47 and a 200-day moving average of $43.64. Fastenal Company has a 52 week low of $38.97 and a 52 week high of $50.63.

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

Fastenal Dividend Announcement

The company also recently announced 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. The ex-dividend date is Tuesday, April 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. Fastenal’s dividend payout ratio (DPR) is 84.21%.

Insider Activity

In related news, Director Reyne K. Wisecup sold 36,920 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the sale, the director owned 40,000 shares in the company, valued at $1,893,600. This trade represents a 48.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.28% of the stock is owned by company insiders.

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.