Fastenal (NASDAQ:FAST) Shares Sold by Tobam

Tobam trimmed its position in Fastenal (NASDAQ:FAST) by 23.8% in the 4th quarter, HoldingsChannel reports. The firm owned 1,447 shares of the company’s stock after selling 452 shares during the quarter. Tobam’s holdings in Fastenal were worth $104,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Fastenal during the 3rd quarter valued at approximately $25,000. Knuff & Co LLC acquired a new position in Fastenal during the third quarter valued at $27,000. Moisand Fitzgerald Tamayo LLC boosted its holdings in Fastenal by 1,019.0% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after purchasing an additional 428 shares during the last quarter. First Personal Financial Services acquired a new stake in Fastenal during the 3rd quarter worth about $36,000. Finally, CVA Family Office LLC raised its stake in shares of Fastenal by 51.0% during the 3rd quarter. CVA Family Office LLC now owns 533 shares of the company’s stock valued at $38,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other Fastenal news, VP Charles S. Miller sold 23,480 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total value of $1,970,441.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel L. Florness sold 31,818 shares of the business’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 owns 286,018 shares in the company, valued at approximately $24,168,521. This represents a 10.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,772 shares of company stock worth $5,365,455. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

FAST has been the topic of a number of recent research reports. Jefferies Financial Group upped their target price on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. HSBC cut shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price for the company. in a research note on Wednesday, December 11th. Stephens raised their price target on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Finally, Robert W. Baird upped 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. Two equities research 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 stock currently has a consensus rating of “Hold” and an average target price of $76.91.

Fastenal Stock Down 1.1 %

Shares of NASDAQ FAST opened at $73.84 on Friday. The firm has a market cap of $42.30 billion, a price-to-earnings ratio of 36.74, a price-to-earnings-growth ratio of 3.48 and a beta of 1.02. The company’s 50-day simple moving average is $75.63 and its 200-day simple moving average is $73.86. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88.

Fastenal (NASDAQ:FAST) last posted 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). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts predict 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 paid a $0.43 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Friday, January 31st. Fastenal’s dividend payout ratio is currently 85.57%.

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.