Fastenal (NASDAQ:FAST) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lessened its holdings in shares of Fastenal (NASDAQ:FAST) by 15.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,577 shares of the company’s stock after selling 12,015 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Fastenal were worth $3,995,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FAST. Central Valley Advisors LLC acquired a new position in shares of Fastenal during the 2nd quarter valued at about $28,000. MCF Advisors LLC boosted its position in shares of Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after acquiring an additional 391 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in shares of Fastenal during the 2nd quarter valued at about $32,000. Crewe Advisors LLC boosted its position in shares of Fastenal by 528.4% during the 2nd quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after acquiring an additional 428 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of Fastenal during the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

FAST has been the topic of several recent research reports. Morgan Stanley initiated coverage on shares of Fastenal in a research report on Friday, September 6th. They set an “equal weight” rating and a $72.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 target price (down previously from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Stephens reaffirmed an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a research report on Monday, July 15th. Finally, Jefferies Financial Group decreased their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Fastenal has a consensus rating of “Hold” and a consensus target price of $67.43.

Insider Activity at Fastenal

In related news, CEO Daniel L. Florness sold 45,744 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

Fastenal Price Performance

FAST stock opened at $69.82 on Monday. The company’s 50 day moving average price is $67.35 and its 200 day moving average price is $68.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39. Fastenal has a fifty-two week low of $53.83 and a fifty-two week high of $79.04. The firm has a market capitalization of $39.98 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 3.78 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. On average, equities research analysts anticipate that Fastenal will post 2.04 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Friday, July 26th. Fastenal’s dividend payout ratio (DPR) is 77.61%.

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.