Fastenal (NASDAQ:FAST) Shares Sold by TIAA Trust National Association

TIAA Trust National Association trimmed its holdings in shares of Fastenal (NASDAQ:FAST) by 5.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,789 shares of the company’s stock after selling 1,002 shares during the period. TIAA Trust National Association’s holdings in Fastenal were worth $1,295,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FAST. Lantz Financial LLC grew its position in Fastenal by 1.7% during the fourth quarter. Lantz Financial LLC now owns 32,768 shares of the company’s stock worth $2,122,000 after buying an additional 542 shares during the period. Archford Capital Strategies LLC increased its stake in Fastenal by 16.2% in the 4th quarter. Archford Capital Strategies LLC now owns 22,247 shares of the company’s stock valued at $1,441,000 after purchasing an additional 3,097 shares in the last quarter. HB Wealth Management LLC raised its holdings in Fastenal by 29.5% during the fourth quarter. HB Wealth Management LLC now owns 9,269 shares of the company’s stock worth $600,000 after purchasing an additional 2,110 shares during the last quarter. Wealthsource Partners LLC purchased a new stake in Fastenal during the fourth quarter worth $218,000. Finally, CoreCap Advisors LLC grew its holdings in Fastenal by 24.9% in the fourth quarter. CoreCap Advisors LLC now owns 27,002 shares of the company’s stock valued at $1,749,000 after purchasing an additional 5,378 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FAST. Jefferies Financial Group dropped their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Robert W. Baird cut their price target on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Stifel Nicolaus reiterated a “buy” rating and set a $80.00 price objective (down previously from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Loop Capital lowered their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Finally, Stephens reiterated an “equal weight” rating and issued a $56.00 price target on shares of Fastenal in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Fastenal presently has an average rating of “Hold” and a consensus price target of $66.67.

Fastenal Stock Up 0.7 %

Shares of NASDAQ:FAST traded up $0.45 during midday trading on Monday, hitting $68.34. 724,606 shares of the company’s stock traded hands, compared to its average volume of 3,732,900. Fastenal has a twelve month low of $53.83 and a twelve month high of $79.04. The company has a market cap of $39.13 billion, a PE ratio of 33.78, a P/E/G ratio of 3.66 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.49 and a current ratio of 4.39. The firm’s fifty day moving average price is $65.04 and its two-hundred day moving average price is $68.70.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 earnings per share. On average, equities research analysts anticipate that Fastenal will post 2.06 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, July 26th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, July 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.28%. Fastenal’s dividend payout ratio is currently 77.61%.

Insider Transactions at Fastenal

In related news, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total transaction of $732,191.96. Following the completion of the sale, the executive vice president now directly owns 26,176 shares of the company’s stock, valued at approximately $1,677,096.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Fastenal news, Director Hsenghung Sam Hsu acquired 500 shares of the stock in a transaction on Monday, June 10th. The stock was purchased at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the purchase, the director now directly owns 3,500 shares in the company, valued at $221,480. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James C. Jansen sold 11,428 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total value of $732,191.96. Following the completion of the transaction, the executive vice president now directly owns 26,176 shares in the company, valued at $1,677,096.32. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

About Fastenal

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.