Fastenal (NASDAQ:FAST) Shares Sold by Phoenix Wealth Advisors

Phoenix Wealth Advisors reduced its position in Fastenal (NASDAQ:FAST) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,214 shares of the company’s stock after selling 164 shares during the period. Phoenix Wealth Advisors’ holdings in Fastenal were worth $1,525,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp lifted its stake in shares of Fastenal by 5.1% in the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company’s stock valued at $1,999,009,000 after purchasing an additional 1,346,863 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Fastenal by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock worth $1,419,690,000 after acquiring an additional 608,596 shares in the last quarter. Geode Capital Management LLC lifted its position in Fastenal by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock worth $1,188,251,000 after acquiring an additional 880,372 shares in the last quarter. Legal & General Group Plc lifted its position in Fastenal by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 5,909,206 shares of the company’s stock worth $371,334,000 after acquiring an additional 193,734 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Fastenal by 5.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company’s stock worth $336,974,000 after acquiring an additional 226,126 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Price Performance

Shares of FAST opened at $76.09 on Wednesday. The company has a market cap of $43.59 billion, a P/E ratio of 37.86, a PEG ratio of 4.22 and a beta of 1.02. The stock has a fifty day moving average price of $77.60 and a 200 day moving average price of $73.26. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1,842,560.16 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. Fastenal’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 earnings per share. On average, research analysts forecast that Fastenal will post 2.16 earnings per share for the current year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is 77.61%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research report on Wednesday, December 11th. Bank of America started coverage on Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective on the stock. UBS Group started coverage on Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective on the stock. Morgan Stanley lifted their price objective on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Finally, Jefferies Financial Group lifted their price objective on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and a consensus target price of $76.91.

Insiders Place Their Bets

In other Fastenal news, Director Daniel L. Johnson sold 8,474 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total transaction of $706,392.64. Following the completion of the transaction, the director now owns 10,595 shares in the company, valued at approximately $883,199.20. The trade was a 44.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rita J. Heise sold 10,888 shares of the company’s stock in a transaction on 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 sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,553,400. This trade represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,660 shares of company stock worth $6,211,126. 0.41% of the stock is owned by company insiders.

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.