Petredis Investment Advisors LLC Sells 20,998 Shares of Fastenal (NASDAQ:FAST)

Petredis Investment Advisors LLC cut its holdings in shares of Fastenal (NASDAQ:FAST) by 20.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 81,441 shares of the company’s stock after selling 20,998 shares during the period. Petredis Investment Advisors LLC’s holdings in Fastenal were worth $5,856,000 as of its most recent SEC filing.

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

Fastenal Trading Up 0.1 %

Shares of Fastenal stock opened at $75.53 on Friday. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The stock has a market cap of $43.27 billion, a PE ratio of 37.58, a price-to-earnings-growth ratio of 3.60 and a beta of 1.02. The firm has a fifty day moving average price of $77.31 and a 200 day moving average price of $73.29.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1,842,560.16 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.46 EPS. Equities research analysts predict that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.28%. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. Fastenal’s payout ratio is 77.61%.

Analysts Set New Price Targets

Several research analysts recently commented on FAST shares. Jefferies Financial Group boosted their price objective on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Stifel Nicolaus decreased their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday. HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a research note on Wednesday, December 11th. Morgan Stanley increased their price target on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Finally, UBS Group began coverage on Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $76.91.

Insider Activity at Fastenal

In other Fastenal news, VP Charles S. Miller sold 23,480 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total value of $1,970,441.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel L. Florness sold 31,818 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $84.50, for a total value of $2,688,621.00. Following the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $24,168,521. The trade was a 10.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,660 shares of company stock worth $6,211,126 in the last three months. Company 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.