Sawyer & Company Inc Sells 856 Shares of Fastenal (NASDAQ:FAST)

Sawyer & Company Inc lessened its position in shares of Fastenal (NASDAQ:FAST) by 7.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,323 shares of the company’s stock after selling 856 shares during the period. Sawyer & Company Inc’s holdings in Fastenal were worth $737,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in FAST. MCF Advisors LLC boosted its stake in Fastenal by 2,172.2% during the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after acquiring an additional 391 shares in the last quarter. Central Valley Advisors LLC purchased a new stake in shares of Fastenal in the second quarter valued at about $28,000. Moisand Fitzgerald Tamayo LLC raised its holdings in shares of 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. LRI Investments LLC purchased a new stake in Fastenal during the first quarter worth about $39,000. Finally, Triad Wealth Partners LLC purchased a new stake in Fastenal during the second quarter worth about $32,000. Institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley assumed coverage on shares of Fastenal in a research report on Friday, September 6th. They set an “equal weight” rating and a $72.00 target price for the company. Stifel Nicolaus reiterated a “buy” rating and set a $80.00 target price (down from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Bank of America started coverage on shares of Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 target price for the company. Finally, Stephens reissued an “equal weight” rating and set a $56.00 price target on shares of Fastenal in a research note on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.89.

Insider Transactions at Fastenal

In other news, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,929,734.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,929,734.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the sale, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,489,266.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Fastenal Stock Performance

NASDAQ FAST traded up $6.83 during trading hours on Friday, reaching $76.82. The stock had a trading volume of 8,470,455 shares, compared to its average volume of 3,365,370. The stock has a fifty day moving average of $68.77 and a 200 day moving average of $67.95. The stock has a market cap of $43.98 billion, a P/E ratio of 38.22, a price-to-earnings-growth ratio of 4.13 and a beta of 1.01. Fastenal has a 52-week low of $56.41 and a 52-week high of $79.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the prior year, the company posted $0.52 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. Sell-side analysts predict that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s dividend payout ratio is presently 77.61%.

Fastenal 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.