Fastenal (NASDAQ:FAST) Stock Position Lessened by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its holdings in Fastenal (NASDAQ:FAST) by 4.8% in the 1st quarter, HoldingsChannel reports. The firm owned 46,835 shares of the company’s stock after selling 2,359 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Fastenal were worth $3,613,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ballentine Partners LLC boosted its stake in Fastenal by 67.8% during the fourth quarter. Ballentine Partners LLC now owns 12,664 shares of the company’s stock valued at $820,000 after buying an additional 5,117 shares in the last quarter. Arizona State Retirement System boosted its stake in Fastenal by 0.7% during the fourth quarter. Arizona State Retirement System now owns 157,025 shares of the company’s stock valued at $10,171,000 after buying an additional 1,166 shares in the last quarter. International Assets Investment Management LLC bought a new position in Fastenal during the fourth quarter valued at about $13,204,000. Fulton Bank N.A. boosted its stake in Fastenal by 3.8% during the fourth quarter. Fulton Bank N.A. now owns 29,438 shares of the company’s stock valued at $1,907,000 after buying an additional 1,071 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in Fastenal by 11.0% during the fourth quarter. Allworth Financial LP now owns 2,115 shares of the company’s stock valued at $137,000 after buying an additional 210 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the subject of several research reports. Robert W. Baird decreased their target price on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Loop Capital decreased their target price on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. HSBC upped their target price on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday, April 15th. Jefferies Financial Group reduced their target price on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Finally, Stephens reaffirmed an “equal weight” rating and set a $56.00 target price on shares of Fastenal in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $66.67.

Fastenal Trading Down 0.2 %

Shares of NASDAQ FAST traded down $0.11 during mid-day trading on Friday, hitting $67.30. 3,847,400 shares of the company traded hands, compared to its average volume of 3,602,243. The business has a 50 day moving average of $65.51 and a two-hundred day moving average of $69.05. The stock has a market capitalization of $38.54 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 3.65 and a beta of 1.01. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. Fastenal has a 1 year low of $53.83 and a 1 year high of $79.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The firm 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 business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. On average, sell-side analysts anticipate that Fastenal will post 2.05 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The company also recently declared 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, July 26th. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Insider Transactions at Fastenal

In other news, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hsenghung Sam Hsu acquired 500 shares of the stock in a transaction dated Monday, June 10th. The shares were bought at an average cost of $63.28 per share, for a total transaction of $31,640.00. Following the acquisition, the director now owns 3,500 shares in the company, valued at approximately $221,480. The disclosure for this purchase can be found here. Company insiders own 0.41% of the company’s stock.

Fastenal Company 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.