Fastenal (NASDAQ:FAST) Shares Sold by Boyd Watterson Asset Management LLC OH

Boyd Watterson Asset Management LLC OH decreased its holdings in Fastenal (NASDAQ:FAST) by 9.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,696 shares of the company’s stock after selling 408 shares during the quarter. Boyd Watterson Asset Management LLC OH’s holdings in Fastenal were worth $264,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. ProShare Advisors LLC increased its holdings in Fastenal by 497.3% in the first quarter. ProShare Advisors LLC now owns 3,099,333 shares of the company’s stock valued at $239,083,000 after buying an additional 2,580,478 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Fastenal by 4,008.2% during the second 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 last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Fastenal by 19.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock valued at $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 second quarter valued at approximately $37,659,000. Finally, TD Asset Management Inc grew its holdings 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 purchasing an additional 569,118 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Bank of America initiated coverage on Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 target price for the company. Stephens increased their price objective on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Jefferies Financial Group cut their target price on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Robert W. Baird increased their price objective on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $86.00 price objective (up previously from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $73.33.

Fastenal Trading Down 0.6 %

NASDAQ FAST opened at $75.47 on Thursday. Fastenal has a 1-year low of $56.41 and a 1-year high of $79.04. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $43.21 billion, a PE ratio of 37.78, a price-to-earnings-growth ratio of 4.13 and a beta of 1.01. The firm’s fifty day simple moving average is $70.56 and its 200-day simple moving average is $67.99.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. Fastenal’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, sell-side analysts anticipate that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s payout ratio is 77.61%.

Insiders Place Their Bets

In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Fastenal news, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Anthony Paul Broersma sold 680 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total transaction of $52,944.80. The disclosure for this sale can be found here. Insiders have sold 179,373 shares of company stock valued at $13,029,308 over the last three months. 0.41% of the stock is currently owned by insiders.

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.