Parkside Financial Bank & Trust Lowers Stock Position in Fastenal (NASDAQ:FAST)

Parkside Financial Bank & Trust lessened its holdings in Fastenal (NASDAQ:FAST) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,317 shares of the company’s stock after selling 208 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Fastenal were worth $409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in Fastenal by 47.3% during the third quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company’s stock worth $256,344,000 after purchasing an additional 1,505,936 shares during the last quarter. Invesco Ltd. boosted its holdings in Fastenal by 16.5% in the third quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock worth $368,563,000 after acquiring an additional 957,091 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Fastenal by 80.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,600,206 shares of the company’s stock worth $87,435,000 after purchasing an additional 711,265 shares during the last quarter. Royal Bank of Canada increased its position in Fastenal by 9.3% during the third 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Fastenal by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company’s stock valued at $751,780,000 after purchasing an additional 423,112 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Activity at Fastenal

In related news, insider Jeffery Michael Watts sold 19,420 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total transaction of $1,364,255.00. Following the completion of the transaction, the insider now directly owns 5,940 shares of the company’s stock, valued at $417,285. The sale was disclosed in a filing with the SEC, which is available through this link. In other Fastenal news, insider Jeffery Michael Watts sold 19,420 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total transaction of $1,364,255.00. Following the transaction, the insider now directly owns 5,940 shares in the company, valued at approximately $417,285. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,050 shares of company stock worth $3,411,049. 0.41% of the stock is owned by insiders.

Fastenal Stock Up 0.5 %

FAST traded up $0.31 during trading on Wednesday, reaching $67.43. The company had a trading volume of 761,354 shares, compared to its average volume of 4,001,899. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. Fastenal has a 12 month low of $52.28 and a 12 month high of $79.04. The business’s fifty day moving average price is $73.54 and its 200 day moving average price is $66.63. The company has a market cap of $38.61 billion, a P/E ratio of 33.42, a PEG ratio of 3.53 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data 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 net margin of 15.68% and a return on equity of 33.98%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the business posted $0.52 earnings per share. Fastenal’s revenue was up 1.9% on a year-over-year basis. Equities analysts anticipate that Fastenal will post 2.12 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Wednesday, April 24th. Fastenal’s payout ratio is currently 77.23%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FAST shares. Loop Capital lowered their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Stifel Nicolaus upped their price target on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Robert W. Baird dropped their target price on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, HSBC increased their price objective on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Fastenal currently has an average rating of “Hold” and an average price target of $67.67.

Fastenal Profile

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.