Fastenal (NASDAQ:FAST) Stake Decreased by OLD National Bancorp IN

OLD National Bancorp IN lessened its holdings in shares of Fastenal (NASDAQ:FAST) by 18.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,187 shares of the company’s stock after selling 3,072 shares during the period. OLD National Bancorp IN’s holdings in Fastenal were worth $829,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of Fastenal by 5.7% during the fourth quarter. Van ECK Associates Corp now owns 101,713 shares of the company’s stock valued at $6,588,000 after acquiring an additional 5,509 shares during the period. Nomura Holdings Inc. acquired a new position in shares of Fastenal during the fourth quarter valued at approximately $747,000. Focus Financial Network Inc. ADV acquired a new position in shares of Fastenal during the fourth quarter valued at approximately $1,282,000. ICW Investment Advisors LLC increased its stake in shares of Fastenal by 2.0% during the fourth quarter. ICW Investment Advisors LLC now owns 36,090 shares of the company’s stock valued at $2,338,000 after acquiring an additional 694 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Fastenal during the fourth quarter valued at approximately $13,204,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Up 0.3 %

NASDAQ:FAST traded up $0.22 during trading hours on Friday, hitting $66.39. 1,310,597 shares of the stock traded hands, compared to its average volume of 3,667,312. The firm has a 50 day moving average price of $65.58 and a 200 day moving average price of $69.01. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. Fastenal has a fifty-two week low of $53.83 and a fifty-two week high of $79.04. The firm has a market cap of $38.01 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 3.65 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the business earned $0.52 EPS. The company’s revenue was up 1.8% on a year-over-year basis. Equities research analysts anticipate that Fastenal will post 2.05 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, July 26th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Friday, July 26th. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

Insider Buying and Selling at Fastenal

In other news, EVP James C. Jansen sold 11,428 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total transaction of $732,191.96. Following the transaction, the executive vice president now directly owns 26,176 shares in the company, valued at approximately $1,677,096.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Hsenghung Sam Hsu purchased 500 shares of the stock in a transaction dated Monday, June 10th. The shares were acquired at an average cost of $63.28 per share, for a total transaction of $31,640.00. Following the acquisition, the director now directly owns 3,500 shares in the company, valued at approximately $221,480. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James C. Jansen sold 11,428 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total transaction of $732,191.96. Following the transaction, the executive vice president now owns 26,176 shares in the company, valued at $1,677,096.32. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. HSBC upped their price target on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday, April 15th. Stephens reaffirmed an “equal weight” rating and issued a $56.00 price target on shares of Fastenal in a report on Monday, July 15th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 price target (down previously from $85.00) on shares of Fastenal in a report on Monday, July 15th. Finally, Robert W. Baird dropped their price target on Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $66.67.

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.