Fastenal (NASDAQ:FAST) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its stake in shares of Fastenal (NASDAQ:FAST) by 8.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 74,723 shares of the company’s stock after selling 7,234 shares during the period. Pacer Advisors Inc.’s holdings in Fastenal were worth $5,373,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Fastenal during the 3rd quarter valued at $25,000. Knuff & Co LLC bought a new position in Fastenal during the third quarter valued at about $27,000. Moisand Fitzgerald Tamayo LLC grew its holdings in Fastenal by 1,019.0% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after acquiring an additional 428 shares during the period. First Personal Financial Services bought a new stake in Fastenal in the third quarter worth about $36,000. Finally, CVA Family Office LLC lifted its holdings in Fastenal by 51.0% in the 3rd quarter. CVA Family Office LLC now owns 533 shares of the company’s stock valued at $38,000 after acquiring an additional 180 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In related news, Director Daniel L. Johnson sold 8,474 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total value of $706,392.64. Following the completion of the sale, the director now owns 10,595 shares of the company’s stock, valued at approximately $883,199.20. The trade was a 44.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Daniel L. Florness sold 31,818 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $24,168,521. The trade was a 10.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,772 shares of company stock worth $5,365,455 over the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

Fastenal Price Performance

Shares of FAST opened at $74.08 on Thursday. The business’s 50-day moving average is $76.94 and its 200-day moving average is $73.67. 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 company has a market capitalization of $42.44 billion, a price-to-earnings ratio of 36.86, a P/E/G ratio of 3.60 and a beta of 1.02. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share 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 $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 EPS. Equities research analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be given a dividend of $0.43 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.32%. Fastenal’s dividend payout ratio (DPR) is presently 85.57%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FAST. Morgan Stanley boosted their target price on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Jefferies Financial Group increased their price objective on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Stephens lifted their target price on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. UBS Group started coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price on the stock. Finally, Bank of America began coverage on Fastenal in a research report on Monday, October 7th. They issued a “buy” rating and a $85.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $76.91.

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.