Nichols & Pratt Advisers LLP MA Sells 516 Shares of Fastenal (NASDAQ:FAST)

Nichols & Pratt Advisers LLP MA lowered its position in Fastenal (NASDAQ:FAST) by 0.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 584,599 shares of the company’s stock after selling 516 shares during the period. Fastenal comprises about 2.5% of Nichols & Pratt Advisers LLP MA’s investment portfolio, making the stock its 14th biggest holding. Nichols & Pratt Advisers LLP MA owned 0.10% of Fastenal worth $36,736,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Baird Financial Group Inc. lifted its position in shares of Fastenal by 15.2% in the fourth quarter. Baird Financial Group Inc. now owns 7,928,209 shares of the company’s stock valued at $513,510,000 after acquiring an additional 1,043,529 shares in the last quarter. Norges Bank purchased a new position in Fastenal in the 4th quarter worth approximately $405,513,000. Envestnet Asset Management Inc. boosted its stake in Fastenal by 2.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 4,800,534 shares of the company’s stock worth $310,931,000 after purchasing an additional 109,028 shares during the period. TD Asset Management Inc grew its holdings in Fastenal by 21.2% during the 1st quarter. TD Asset Management Inc now owns 3,248,853 shares of the company’s stock valued at $250,617,000 after buying an additional 569,118 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in shares of Fastenal by 46.2% during the first quarter. Los Angeles Capital Management LLC now owns 3,185,855 shares of the company’s stock worth $245,757,000 after acquiring an additional 1,006,402 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Trading Up 0.9 %

Fastenal stock traded up $0.59 during trading hours on Friday, hitting $68.10. The company had a trading volume of 1,436,259 shares, compared to its average volume of 3,555,734. The firm has a market cap of $38.99 billion, a P/E ratio of 33.88, a P/E/G ratio of 3.65 and a beta of 1.01. The company has a 50-day moving average price of $66.17 and a two-hundred day moving average price of $68.86. Fastenal has a 1 year low of $53.83 and a 1 year high of $79.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39.

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 company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. Fastenal’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. On average, sell-side analysts anticipate that Fastenal will post 2.05 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.56 annualized dividend and a dividend yield of 2.29%. Fastenal’s payout ratio is currently 77.61%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FAST. Jefferies Financial Group decreased their price objective on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Stephens restated an “equal weight” rating and set a $56.00 price objective on shares of Fastenal in a research report on Monday, July 15th. Robert W. Baird dropped their target price on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Finally, Stifel Nicolaus restated a “buy” rating and set a $80.00 price target (down previously from $85.00) on shares of Fastenal in a report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastenal has a consensus rating of “Hold” and an average price target of $66.67.

Insider Buying and Selling

In other news, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,489,266.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Daniel L. Florness sold 45,744 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,489,266.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total value of $732,191.96. Following the sale, the executive vice president now directly owns 26,176 shares in the company, valued at approximately $1,677,096.32. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

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.