STF Management LP Sells 982 Shares of Fastenal (NASDAQ:FAST)

STF Management LP decreased its stake in shares of Fastenal (NASDAQ:FAST) by 10.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,168 shares of the company’s stock after selling 982 shares during the quarter. STF Management LP’s holdings in Fastenal were worth $583,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new stake in Fastenal during the third quarter worth $25,000. Knuff & Co LLC bought a new stake in shares of Fastenal in the 3rd quarter valued at about $27,000. Central Valley Advisors LLC acquired a new stake in Fastenal in the 2nd quarter valued at about $28,000. Triad Wealth Partners LLC bought a new position in Fastenal during the second quarter worth about $32,000. Finally, Crewe Advisors LLC increased its position in Fastenal by 528.4% during the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock worth $32,000 after buying an additional 428 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

FAST has been the subject of a number of recent analyst reports. UBS Group began coverage on Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price objective for the company. Stephens lifted their price objective on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Stifel Nicolaus restated a “buy” rating and set a $86.00 target price (up previously from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Morgan Stanley upped their price target on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Finally, Robert W. Baird raised their price objective on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $74.80.

Insider Activity at Fastenal

In related news, CAO Sheryl Ann Lisowski sold 13,567 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.19, for a total value of $1,033,669.73. Following the sale, the chief accounting officer now directly owns 5,096 shares of the company’s stock, valued at $388,264.24. This trade represents a 72.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel L. Johnson sold 8,474 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total value of $706,392.64. Following the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 208,289 shares of company stock valued at $16,123,438 over the last three months. 0.41% of the stock is owned by insiders.

Fastenal Price Performance

Fastenal stock opened at $82.44 on Friday. The firm has a market cap of $47.23 billion, a PE ratio of 41.01, a price-to-earnings-growth ratio of 4.78 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. The stock’s fifty day moving average price is $75.99 and its two-hundred day moving average price is $69.60. Fastenal has a one year low of $59.47 and a one year high of $84.88.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. Fastenal’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business earned $0.52 earnings per share. As a group, research analysts expect that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 annualized dividend and a dividend yield of 1.89%. Fastenal’s dividend payout ratio is 77.61%.

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.