Dock Street Asset Management Inc. Sells 462 Shares of Fastenal (NASDAQ:FAST)

Dock Street Asset Management Inc. lowered its stake in shares of Fastenal (NASDAQ:FAST) by 3.0% during the fourth quarter, HoldingsChannel reports. The fund owned 14,965 shares of the company’s stock after selling 462 shares during the quarter. Fastenal makes up about 0.1% of Dock Street Asset Management Inc.’s portfolio, making the stock its 28th biggest holding. Dock Street Asset Management Inc.’s holdings in Fastenal were worth $1,076,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Aaron Wealth Advisors LLC bought a new stake in shares of Fastenal in the 3rd quarter valued at approximately $310,000. Comgest Global Investors S.A.S. grew its position in Fastenal by 73.0% in the third 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 during the period. PNC Financial Services Group Inc. raised its stake in Fastenal by 1.8% during the third quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company’s stock worth $26,373,000 after acquiring an additional 6,488 shares in the last quarter. Matrix Trust Co bought a new position in shares of Fastenal during the fourth quarter valued at $1,756,000. Finally, Franklin Resources Inc. boosted its stake in shares of Fastenal by 3.8% in the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock valued at $350,703,000 after purchasing an additional 165,423 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fastenal

In other Fastenal news, CEO Daniel L. Florness sold 31,818 shares of Fastenal stock in a transaction on Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $24,168,521. The trade was a 10.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Charles S. Miller sold 23,480 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total transaction of $1,970,441.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,772 shares of company stock worth $5,365,455. Insiders own 0.41% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $74.65 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The business has a 50-day moving average of $75.63 and a 200-day moving average of $73.86. The stock has a market capitalization of $42.77 billion, a price-to-earnings ratio of 37.14, a PEG ratio of 3.48 and a beta of 1.02. Fastenal has a fifty-two week low of $61.36 and a fifty-two week high of $84.88.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. Fastenal’s dividend payout ratio is presently 85.57%.

Wall Street Analyst Weigh In

FAST has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Stifel Nicolaus decreased their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Stephens upped their price objective on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Finally, HSBC lowered shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $76.91.

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.