Eads & Heald Wealth Management Has $1.95 Million Stake in Fastenal (NASDAQ:FAST)

Eads & Heald Wealth Management reduced its holdings in Fastenal (NASDAQ:FAST) by 7.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,328 shares of the company’s stock after selling 2,128 shares during the quarter. Eads & Heald Wealth Management’s holdings in Fastenal were worth $1,952,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. ProShare Advisors LLC grew 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 last quarter. Marshall Wace LLP boosted its holdings in Fastenal by 4,008.2% in the 2nd quarter. Marshall Wace LLP now owns 756,241 shares of the company’s stock valued at $47,522,000 after purchasing an additional 737,833 shares during the period. Dimensional Fund Advisors LP grew its position in Fastenal by 19.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock worth $241,161,000 after purchasing an additional 636,546 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Fastenal during the 2nd quarter worth about $37,659,000. Finally, TD Asset Management Inc raised its position in shares of 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 buying an additional 569,118 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Up 0.1 %

FAST opened at $78.23 on Friday. The firm has a market cap of $44.82 billion, a price-to-earnings ratio of 38.92, a PEG ratio of 4.59 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. The firm’s 50-day simple moving average is $71.94 and its 200-day simple moving average is $68.24. Fastenal has a twelve month low of $58.23 and a twelve month high of $79.04.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data 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 net margin of 15.44% and a return on equity of 33.30%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the prior year, the firm earned $0.52 earnings per share. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 1.99%. Fastenal’s dividend payout ratio is 77.61%.

Insider Buying and Selling at Fastenal

In other news, CAO Sheryl Ann Lisowski sold 13,567 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $76.19, for a total transaction of $1,033,669.73. Following the sale, the chief accounting officer now owns 5,096 shares in the company, valued at approximately $388,264.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Daniel L. Florness sold 45,744 shares of the firm’s 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 of the company’s stock, valued at $19,489,266.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sheryl Ann Lisowski sold 13,567 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $388,264.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 190,261 shares of company stock worth $13,874,979. 0.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FAST. JPMorgan Chase & Co. lifted their target price on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Bank of America assumed coverage on Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $86.00 target price (up from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Robert W. Baird lifted their price target on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, Morgan Stanley raised their price objective on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $73.33.

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.