Frank Rimerman Advisors LLC Sells 305 Shares of Fastenal (NASDAQ:FAST)

Frank Rimerman Advisors LLC decreased its holdings in Fastenal (NASDAQ:FAST) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,528 shares of the company’s stock after selling 305 shares during the period. Frank Rimerman Advisors LLC’s holdings in Fastenal were worth $1,466,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FAST. ProShare Advisors LLC boosted its stake in shares of Fastenal by 497.3% in the first quarter. ProShare Advisors LLC now owns 3,099,333 shares of the company’s stock worth $239,083,000 after acquiring an additional 2,580,478 shares during the period. Marshall Wace LLP lifted its position in shares of Fastenal by 4,008.2% in the second quarter. Marshall Wace LLP now owns 756,241 shares of the company’s stock worth $47,522,000 after buying an additional 737,833 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Fastenal by 19.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock worth $241,161,000 after buying an additional 636,546 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Fastenal in the second quarter worth about $37,659,000. Finally, TD Asset Management Inc raised its position in Fastenal by 21.2% during the first quarter. TD Asset Management Inc now owns 3,248,853 shares of the company’s stock valued at $250,617,000 after purchasing an additional 569,118 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other Fastenal news, insider William Joseph Drazkowski sold 16,362 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.65, for a total transaction of $1,270,509.30. Following the sale, the insider now owns 5,997 shares in the company, valued at approximately $465,667.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Sheryl Ann Lisowski sold 13,567 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.19, for a total value of $1,033,669.73. Following the sale, the chief accounting officer now owns 5,096 shares in the company, valued at $388,264.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Joseph Drazkowski sold 16,362 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.65, for a total value of $1,270,509.30. Following the completion of the sale, the insider now owns 5,997 shares in the company, valued at $465,667.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 179,373 shares of company stock worth $13,029,308. 0.41% of the stock is currently owned by insiders.

Fastenal Stock Up 0.8 %

Shares of FAST stock opened at $75.85 on Friday. Fastenal has a 1-year low of $57.01 and a 1-year high of $79.04. The stock’s fifty day moving average price is $70.91 and its 200 day moving average price is $67.98. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. The company has a market cap of $43.45 billion, a price-to-earnings ratio of 37.74, a price-to-earnings-growth ratio of 4.48 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the business earned $0.52 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, research analysts expect that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 annualized dividend and a yield of 2.06%. Fastenal’s payout ratio is presently 77.61%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $86.00 target price (up previously from $80.00) on shares of Fastenal in a report on Monday, October 14th. Stephens lifted their target price on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Bank of America began coverage on Fastenal in a research report on Monday, October 7th. They issued a “buy” rating and a $85.00 price target for the company. Morgan Stanley boosted their price target on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. boosted their price target on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.33.

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.