Price T Rowe Associates Inc. MD Sells 1,531 Shares of Fastenal (NASDAQ:FAST)

Price T Rowe Associates Inc. MD trimmed its holdings in shares of Fastenal (NASDAQ:FAST) by 0.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,486,280 shares of the company’s stock after selling 1,531 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.26% of Fastenal worth $114,653,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FAST. Hartford Financial Management Inc. lifted its holdings in shares of Fastenal by 46.9% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after acquiring an additional 153 shares during the period. MCF Advisors LLC lifted its holdings in Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after purchasing an additional 391 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Fastenal during the 4th quarter valued at about $35,000. LRI Investments LLC bought a new position in Fastenal during the 1st quarter valued at about $39,000. Finally, Criterion Capital Advisors LLC bought a new position in Fastenal during the 4th quarter valued at about $43,000. 81.38% of the stock is owned by institutional investors.

Fastenal Trading Down 0.1 %

Shares of NASDAQ:FAST traded down $0.08 during trading on Monday, hitting $70.29. 491,979 shares of the company’s stock were exchanged, compared to its average volume of 3,689,589. Fastenal has a 1-year low of $53.83 and a 1-year high of $79.04. The firm has a 50-day moving average price of $65.20 and a two-hundred day moving average price of $68.92. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The firm has a market cap of $40.25 billion, a P/E ratio of 35.01, a PEG ratio of 3.79 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Friday, July 12th. The company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the company earned $0.52 EPS. Fastenal’s revenue was up 1.8% on a year-over-year basis. Equities analysts predict that Fastenal will post 2.06 earnings per share for the current year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, July 26th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.22%. The ex-dividend date is Friday, July 26th. Fastenal’s payout ratio is presently 77.61%.

Insider Buying and Selling at Fastenal

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Jefferies Financial Group cut their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Stifel Nicolaus reissued a “buy” rating and set a $80.00 price target (down from $85.00) on shares of Fastenal in a report on Monday, July 15th. Loop Capital cut their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. HSBC boosted their target price on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a research note on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $66.67.

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.