Fastenal (NASDAQ:FAST) Position Lowered by Schwarz Dygos Wheeler Investment Advisors LLC

Schwarz Dygos Wheeler Investment Advisors LLC decreased its stake in shares of Fastenal (NASDAQ:FAST) by 13.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,078 shares of the company’s stock after selling 650 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC’s holdings in Fastenal were worth $264,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of FAST. Hartford Financial Management Inc. lifted its holdings in Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after acquiring an additional 153 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Fastenal in the fourth quarter worth about $35,000. Criterion Capital Advisors LLC bought a new position in Fastenal in the fourth quarter worth about $43,000. Pacific Center for Financial Services acquired a new stake in shares of Fastenal in the third quarter valued at approximately $66,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Fastenal by 77.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock valued at $70,000 after purchasing an additional 474 shares during the period. Institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Loop Capital dropped their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Stifel Nicolaus raised their price objective on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Robert W. Baird lowered their price objective on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Finally, HSBC raised their price objective on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $67.67.

Fastenal Price Performance

NASDAQ:FAST traded up $0.03 during trading hours on Friday, reaching $68.17. 2,802,015 shares of the company’s stock were exchanged, compared to its average volume of 4,004,192. The company has a market capitalization of $39.03 billion, a P/E ratio of 33.75, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. Fastenal has a 12 month low of $52.66 and a 12 month high of $79.04. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. The business’s 50-day simple moving average is $73.41 and its two-hundred day simple moving average is $66.73.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the business posted $0.52 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side analysts expect that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s dividend payout ratio is 77.23%.

Insider Buying and Selling

In other Fastenal news, VP Charles S. Miller sold 11,076 shares of Fastenal stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jeffery Michael Watts sold 19,420 shares of Fastenal stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total value of $1,364,255.00. Following the transaction, the insider now owns 5,940 shares in the company, valued at approximately $417,285. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Charles S. Miller sold 11,076 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,082 shares of company stock valued at $2,584,060. Company insiders own 0.41% of the company’s stock.

About Fastenal

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.