Fastenal (NASDAQ:FAST) Shares Sold by Dohj LLC

Dohj LLC lowered its holdings in shares of Fastenal (NASDAQ:FAST) by 4.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,927 shares of the company’s stock after selling 222 shares during the period. Dohj LLC’s holdings in Fastenal were worth $380,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Fastenal in the fourth quarter valued at approximately $405,513,000. Confluence Investment Management LLC acquired a new position in shares of Fastenal in the first quarter valued at approximately $195,459,000. TD Asset Management Inc raised its position in shares of Fastenal by 112.9% in the fourth quarter. TD Asset Management Inc now owns 2,679,735 shares of the company’s stock valued at $173,566,000 after buying an additional 1,420,763 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of Fastenal by 15.2% in the fourth quarter. Baird Financial Group Inc. now owns 7,928,209 shares of the company’s stock valued at $513,510,000 after buying an additional 1,043,529 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of Fastenal by 46.2% in the first quarter. Los Angeles Capital Management LLC now owns 3,185,855 shares of the company’s stock valued at $245,757,000 after buying an additional 1,006,402 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Activity

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

Fastenal Stock Performance

Shares of FAST stock traded down $0.08 during trading hours on Thursday, reaching $63.33. The stock had a trading volume of 2,306,489 shares, compared to its average volume of 3,741,098. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. Fastenal has a twelve month low of $53.83 and a twelve month high of $79.04. The firm has a 50-day simple moving average of $66.02 and a 200-day simple moving average of $68.63. The firm has a market capitalization of $36.26 billion, a PE ratio of 31.36, a price-to-earnings-growth ratio of 3.44 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last announced its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. As a group, equities analysts forecast that Fastenal will post 2.08 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, April 24th. This represents a $1.56 annualized dividend and a dividend yield of 2.46%. Fastenal’s dividend payout ratio (DPR) is 77.23%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FAST. Loop Capital cut their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Robert W. Baird dropped their price target on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Stifel Nicolaus upped their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, HSBC upped their price target on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research 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 stock. According to data from MarketBeat.com, Fastenal has an average rating of “Hold” and a consensus target price of $68.80.

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.