Fastenal Company $FAST Shares Sold by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG cut its stake in shares of Fastenal Company (NASDAQ:FAST) by 6.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 689,676 shares of the company’s stock after selling 51,297 shares during the period. B. Metzler seel. Sohn & Co. AG owned 0.06% of Fastenal worth $33,125,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FAST. Resolute Advisors LLC acquired a new position in shares of Fastenal during the second quarter worth about $229,000. Symphony Financial Ltd. Co. lifted its position in Fastenal by 15.3% during the 2nd quarter. Symphony Financial Ltd. Co. now owns 14,972 shares of the company’s stock worth $710,000 after acquiring an additional 1,984 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Fastenal in the 2nd quarter worth approximately $664,000. Oarsman Capital Inc. boosted its holdings in Fastenal by 19.3% in the 2nd quarter. Oarsman Capital Inc. now owns 17,131 shares of the company’s stock worth $823,000 after acquiring an additional 2,767 shares during the period. Finally, Headlands Technologies LLC grew its position in Fastenal by 95.1% in the second quarter. Headlands Technologies LLC now owns 89,077 shares of the company’s stock valued at $4,278,000 after acquiring an additional 43,411 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Price Performance

Fastenal stock traded up $0.56 during trading hours on Friday, hitting $51.22. 1,475,486 shares of the company traded hands, compared to its average volume of 8,033,400. Fastenal Company has a 1-year low of $38.97 and a 1-year high of $52.92. The firm has a market cap of $58.77 billion, a P/E ratio of 43.41, a P/E/G ratio of 3.21 and a beta of 0.72. The firm’s 50-day simple moving average is $47.86 and its two-hundred day simple moving average is $46.33. The company has a quick ratio of 2.21, a current ratio of 4.18 and a debt-to-equity ratio of 0.01.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.33. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period in the previous year, the company earned $0.29 earnings per share. Fastenal’s revenue was up 14.7% compared to the same quarter last year. As a group, analysts forecast that Fastenal Company will post 1.26 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, July 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. Fastenal’s dividend payout ratio is currently 88.14%.

Insider Transactions at Fastenal

In related news, Director Michael J. Ancius sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total transaction of $147,000.00. Following the transaction, the director directly owned 58,690 shares of the company’s stock, valued at approximately $2,875,810. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rita J. Heise sold 34,964 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total transaction of $1,749,948.20. Following the completion of the sale, the director owned 20,000 shares of the company’s stock, valued at approximately $1,001,000. The trade was a 63.61% decrease in their position. The SEC filing for this sale provides additional information. 0.28% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on FAST. Morgan Stanley raised their price objective on Fastenal from $48.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Barclays reduced their target price on Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, July 16th. DA Davidson reissued a “neutral” rating and set a $46.00 price target on shares of Fastenal in a research report on Wednesday, July 15th. Wolfe Research restated an “underperform” rating and issued a $47.00 price target on shares of Fastenal in a research note on Thursday, July 9th. Finally, Weiss Ratings cut shares of Fastenal from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $49.17.

Fastenal 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.