Fastenal (NASDAQ:FAST) Shares Sold by GDS Wealth Management

GDS Wealth Management trimmed its position in Fastenal (NASDAQ:FAST) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,188 shares of the company’s stock after selling 206 shares during the period. GDS Wealth Management’s holdings in Fastenal were worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in Fastenal by 47.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company’s stock worth $256,344,000 after purchasing an additional 1,505,936 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Fastenal by 85.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 2,179,453 shares of the company’s stock valued at $141,163,000 after buying an additional 1,002,004 shares during the last quarter. Invesco Ltd. increased its stake in Fastenal by 16.5% in the third quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock valued at $368,563,000 after purchasing an additional 957,091 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Fastenal by 80.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,600,206 shares of the company’s stock worth $87,435,000 after purchasing an additional 711,265 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Fastenal by 9.3% in the third quarter. Royal Bank of Canada now owns 6,651,629 shares of the company’s stock valued at $363,445,000 after buying an additional 568,372 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Performance

Shares of Fastenal stock traded up $0.84 during trading hours on Thursday, reaching $67.62. The company’s stock had a trading volume of 2,646,907 shares, compared to its average volume of 3,949,781. The company’s 50 day simple moving average is $72.63 and its 200 day simple moving average is $67.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. Fastenal has a one year low of $52.86 and a one year high of $79.04. The stock has a market cap of $38.72 billion, a P/E ratio of 33.48, a price-to-earnings-growth ratio of 3.58 and a beta of 1.07.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 EPS. As a group, analysts expect that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FAST. Loop Capital decreased their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Stifel Nicolaus raised their price target on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Robert W. Baird cut their price target on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, HSBC upped their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $67.33.

Insider Buying and Selling at Fastenal

In other news, Director Daniel L. Johnson acquired 3,350 shares of Fastenal stock in a transaction dated Wednesday, April 17th. The stock was acquired at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the purchase, the director now owns 10,595 shares of the company’s stock, valued at $724,486.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Daniel L. Johnson bought 3,350 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were acquired at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the transaction, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Charles S. Miller sold 11,076 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

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.