Fastenal (NASDAQ:FAST) Shares Sold by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise decreased its holdings in shares of Fastenal (NASDAQ:FAST) by 33.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,018 shares of the company’s stock after selling 14,282 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Fastenal were worth $2,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aaron Wealth Advisors LLC acquired a new position in shares of Fastenal during the 3rd quarter valued at $310,000. Comgest Global Investors S.A.S. lifted its holdings in shares of Fastenal by 73.0% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company’s stock valued at $6,219,000 after acquiring an additional 36,742 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Fastenal by 499.7% during the 1st quarter. Cetera Investment Advisers now owns 132,046 shares of the company’s stock valued at $10,186,000 after acquiring an additional 110,027 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Fastenal by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 210,998 shares of the company’s stock valued at $13,259,000 after acquiring an additional 11,436 shares in the last quarter. Finally, Peak Financial Advisors LLC acquired a new position in shares of Fastenal during the 2nd quarter valued at $2,643,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Price Performance

FAST opened at $81.82 on Thursday. The company has a 50-day moving average of $75.74 and a 200-day moving average of $69.51. The company has a market capitalization of $46.87 billion, a P/E ratio of 40.71, a PEG ratio of 4.80 and a beta of 0.99. Fastenal has a 1-year low of $59.47 and a 1-year high of $84.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40.

Fastenal (NASDAQ:FAST) last released 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 net margin of 15.44% and a return on equity of 33.30%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. The company’s revenue was up 3.5% on a year-over-year basis. Equities analysts expect that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Dividend Announcement

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 $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, October 25th. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FAST. UBS Group began coverage on shares of Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target on the stock. Morgan Stanley lifted their price target on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Stephens lifted their price target on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $86.00 price target (up previously from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Finally, 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. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $74.80.

Insider Activity

In other news, Director Daniel L. Johnson sold 8,474 shares of Fastenal stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total value of $706,392.64. Following the completion of the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $883,199.20. The trade was a 44.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,929,734.24. This trade represents a 14.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 208,289 shares of company stock valued at $16,123,438. Company insiders own 0.41% of the company’s stock.

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.