Everence Capital Management Inc. Has $700,000 Stake in Fastenal (NASDAQ:FAST)

Everence Capital Management Inc. decreased its stake in Fastenal (NASDAQ:FAST) by 38.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,800 shares of the company’s stock after selling 6,190 shares during the quarter. Everence Capital Management Inc.’s holdings in Fastenal were worth $700,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of FAST. ProShare Advisors LLC boosted its stake in Fastenal by 497.3% in the first quarter. ProShare Advisors LLC now owns 3,099,333 shares of the company’s stock worth $239,083,000 after purchasing an additional 2,580,478 shares in the last quarter. Marshall Wace LLP boosted its stake in Fastenal by 4,008.2% in the second quarter. Marshall Wace LLP now owns 756,241 shares of the company’s stock worth $47,522,000 after purchasing an additional 737,833 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Fastenal by 19.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock worth $241,161,000 after purchasing an additional 636,546 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Fastenal in the second quarter worth $37,659,000. Finally, TD Asset Management Inc boosted its stake in Fastenal by 21.2% in the first quarter. TD Asset Management Inc now owns 3,248,853 shares of the company’s stock worth $250,617,000 after purchasing an additional 569,118 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Activity at Fastenal

In related news, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,929,734.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Anthony Paul Broersma sold 680 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total value of $52,944.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 179,373 shares of company stock worth $13,029,308. 0.41% of the stock is owned by insiders.

Fastenal Trading Down 0.5 %

NASDAQ FAST traded down $0.40 on Monday, reaching $77.50. The company had a trading volume of 1,031,020 shares, compared to its average volume of 3,354,369. The stock’s 50 day moving average is $69.92 and its 200-day moving average is $67.91. The stock has a market cap of $44.37 billion, a price-to-earnings ratio of 38.76, a PEG ratio of 4.13 and a beta of 1.01. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. Fastenal has a 52 week low of $56.41 and a 52 week high of $79.04.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 earnings per share. Equities analysts predict that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 2.01%. Fastenal’s dividend payout ratio is presently 77.61%.

Analyst Upgrades and Downgrades

FAST has been the topic of a number of recent analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $86.00 price objective (up previously from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Jefferies Financial Group dropped their target price on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. 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 report on Monday, October 14th. Robert W. Baird boosted their target price on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Stephens boosted their target price on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average price target of $73.33.

Fastenal Company 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.