Fastenal (NASDAQ:FAST) Shares Sold by Toth Financial Advisory Corp

Toth Financial Advisory Corp lessened its stake in Fastenal (NASDAQ:FAST) by 1.2% during the first quarter, Holdings Channel reports. The firm owned 73,347 shares of the company’s stock after selling 894 shares during the period. Toth Financial Advisory Corp’s holdings in Fastenal were worth $5,658,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Fastenal during the fourth quarter valued at approximately $405,513,000. Confluence Investment Management LLC purchased a new position in shares of Fastenal in the 1st quarter valued at $195,459,000. TD Asset Management Inc lifted its holdings in shares of Fastenal by 112.9% during the 4th quarter. TD Asset Management Inc now owns 2,679,735 shares of the company’s stock valued at $173,566,000 after acquiring an additional 1,420,763 shares in the last quarter. Baird Financial Group Inc. boosted its position in Fastenal by 15.2% during the 4th quarter. Baird Financial Group Inc. now owns 7,928,209 shares of the company’s stock worth $513,510,000 after purchasing an additional 1,043,529 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in Fastenal by 46.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 3,185,855 shares of the company’s stock valued at $245,757,000 after purchasing an additional 1,006,402 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Down 0.8 %

Shares of NASDAQ:FAST traded down $0.49 during trading on Friday, hitting $62.84. The company’s stock had a trading volume of 5,921,891 shares, compared to its average volume of 3,313,607. Fastenal has a fifty-two week low of $53.83 and a fifty-two week high of $79.04. The stock’s 50-day moving average price is $65.84 and its two-hundred day moving average price is $68.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. The company has a market capitalization of $35.98 billion, a PE ratio of 31.11, a PEG ratio of 3.38 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last announced its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that Fastenal will post 2.08 EPS for the current year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Wednesday, April 24th. Fastenal’s dividend payout ratio is currently 77.23%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Stifel Nicolaus boosted their price objective on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Robert W. Baird reduced their price target on Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. HSBC upped their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Finally, Loop Capital reduced their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $68.80.

Insider Transactions at Fastenal

In other news, Director Hsenghung Sam Hsu acquired 500 shares of the business’s stock in a transaction on Monday, June 10th. The shares were purchased at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the purchase, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $221,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Fastenal news, Director Hsenghung Sam Hsu bought 500 shares of the stock in a transaction on Monday, June 10th. The stock was purchased at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the purchase, the director now directly owns 3,500 shares in the company, valued at $221,480. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel L. Johnson purchased 3,350 shares of Fastenal stock in a transaction dated Wednesday, April 17th. The stock was acquired at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the transaction, the director now owns 10,595 shares in the company, valued at approximately $724,486.10. The disclosure for this purchase can be found here. Insiders own 0.41% of the company’s stock.

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.