Capital Management Corp VA Sells 1,948 Shares of Fastenal (NASDAQ:FAST)

Capital Management Corp VA reduced its holdings in shares of Fastenal (NASDAQ:FAST) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,564 shares of the company’s stock after selling 1,948 shares during the quarter. Capital Management Corp VA’s holdings in Fastenal were worth $6,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of FAST. Norden Group LLC grew its stake in shares of Fastenal by 57.9% in the first quarter. Norden Group LLC now owns 7,399 shares of the company’s stock worth $571,000 after acquiring an additional 2,712 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Fastenal by 5.0% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 4,307 shares of the company’s stock valued at $332,000 after buying an additional 205 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Fastenal by 98.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 118,301 shares of the company’s stock worth $9,126,000 after buying an additional 58,726 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Fastenal by 26.0% in the first quarter. Larson Financial Group LLC now owns 10,163 shares of the company’s stock worth $784,000 after acquiring an additional 2,094 shares during the period. Finally, Catalina Capital Group LLC purchased a new stake in Fastenal during the first quarter valued at $237,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Morgan Stanley raised their target price on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Jefferies Financial Group reduced their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. 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. Robert W. Baird raised their target price on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $86.00 price target (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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $73.33.

Insiders Place Their Bets

In other news, VP John Lewis Soderberg sold 488 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.32, for a total value of $37,244.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Fastenal news, CAO Sheryl Ann Lisowski sold 13,567 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $76.19, for a total value of $1,033,669.73. Following the completion of the sale, the chief accounting officer now owns 5,096 shares of the company’s stock, valued at $388,264.24. This trade 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 available at this hyperlink. Also, VP John Lewis Soderberg sold 488 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.32, for a total value of $37,244.16. The disclosure for this sale can be found here. Insiders have sold 190,261 shares of company stock valued at $13,874,979 over the last ninety days. 0.41% of the stock is owned by insiders.

Fastenal Trading Down 0.5 %

FAST stock opened at $77.82 on Tuesday. The company has a market capitalization of $44.58 billion, a price-to-earnings ratio of 38.72, a PEG ratio of 4.58 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. Fastenal has a 1-year low of $58.23 and a 1-year high of $79.04. The business has a 50 day simple moving average of $72.14 and a two-hundred day simple moving average of $68.30.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Fastenal’s revenue was up 3.5% on a year-over-year basis. Research analysts anticipate that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 annualized dividend and a yield of 2.00%. Fastenal’s dividend payout ratio is currently 77.61%.

Fastenal Company 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.