Capital Management Corp VA Sells 1,948 Shares of Fastenal (NASDAQ:FAST)

Capital Management Corp VA cut its position in shares of Fastenal (NASDAQ:FAST) by 2.2% in the third quarter, HoldingsChannel reports. The firm owned 86,564 shares of the company’s stock after selling 1,948 shares during the period. Capital Management Corp VA’s holdings in Fastenal were worth $6,182,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Amalgamated Bank increased its holdings in Fastenal by 4.2% during the third quarter. Amalgamated Bank now owns 127,071 shares of the company’s stock valued at $9,075,000 after buying an additional 5,132 shares during the period. Moloney Securities Asset Management LLC raised its position in shares of Fastenal by 14.5% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 8,592 shares of the company’s stock worth $614,000 after acquiring an additional 1,091 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Fastenal by 22.8% during the 3rd quarter. QRG Capital Management Inc. now owns 60,575 shares of the company’s stock worth $4,326,000 after purchasing an additional 11,259 shares during the last quarter. Forum Financial Management LP purchased a new stake in shares of Fastenal during the 3rd quarter worth $225,000. Finally, Van ECK Associates Corp grew its stake in Fastenal by 11.0% in the third quarter. Van ECK Associates Corp now owns 131,493 shares of the company’s stock valued at $9,984,000 after purchasing an additional 13,039 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of Fastenal stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total value of $52,944.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Anthony Paul Broersma sold 680 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Rita J. Heise sold 10,888 shares of Fastenal stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $77.67, for a total value of $845,670.96. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,553,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 190,261 shares of company stock valued at $13,874,979. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FAST shares. Stephens raised their price target on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Stifel Nicolaus restated a “buy” rating and issued a $86.00 target price (up from $80.00) on shares of Fastenal in a research note on Monday, October 14th. JPMorgan Chase & Co. upped their price target on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Robert W. Baird raised their price objective on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Morgan Stanley boosted their target price on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $73.33.

Fastenal Price Performance

NASDAQ FAST opened at $77.82 on Tuesday. The stock’s fifty day moving average price is $72.14 and its 200 day moving average price is $68.30. Fastenal has a 1 year low of $58.23 and a 1 year high of $79.04. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. The company has a market cap of $44.58 billion, a price-to-earnings ratio of 38.72, a PEG ratio of 4.58 and a beta of 0.99.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts forecast that Fastenal will post 2.03 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s dividend payout ratio is currently 77.61%.

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.