Evermay Wealth Management LLC Has $310,000 Stock Position in Fastenal (NASDAQ:FAST)

Evermay Wealth Management LLC lowered its position in shares of Fastenal (NASDAQ:FAST) by 30.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,342 shares of the company’s stock after selling 1,900 shares during the quarter. Evermay Wealth Management LLC’s holdings in Fastenal were worth $310,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Fastenal by 5.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock worth $186,000 after acquiring an additional 143 shares during the last quarter. Compass Ion Advisors LLC grew its holdings in Fastenal by 1.5% during the 3rd quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock worth $709,000 after acquiring an additional 146 shares during the last quarter. Penobscot Investment Management Company Inc. grew its holdings in Fastenal by 1.1% during the 1st quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock worth $1,030,000 after acquiring an additional 150 shares during the last quarter. Sara Bay Financial raised its holdings in shares of Fastenal by 1.3% in the second quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock valued at $746,000 after purchasing an additional 155 shares during the last quarter. Finally, Trueblood Wealth Management LLC raised its holdings in shares of Fastenal by 1.4% in the second quarter. Trueblood Wealth Management LLC now owns 11,314 shares of the company’s stock valued at $711,000 after purchasing an additional 156 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FAST. Jefferies Financial Group lowered their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Morgan Stanley lifted their price objective on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their price objective on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Stephens lifted their price objective on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Finally, Stifel Nicolaus restated a “buy” rating and set a $86.00 target price (up from $80.00) on shares of Fastenal in a report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.33.

Insider Activity at Fastenal

In other news, insider William Joseph Drazkowski sold 16,362 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.65, for a total transaction of $1,270,509.30. Following the completion of the sale, the insider now directly owns 5,997 shares of the company’s stock, valued at $465,667.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Anthony Paul Broersma sold 680 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Joseph Drazkowski sold 16,362 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $77.65, for a total value of $1,270,509.30. Following the completion of the sale, the insider now owns 5,997 shares of the company’s stock, valued at $465,667.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 179,373 shares of company stock valued at $13,029,308. 0.41% of the stock is owned by insiders.

Fastenal Trading Up 0.2 %

FAST stock traded up $0.17 during trading on Wednesday, hitting $77.78. The company had a trading volume of 261,890 shares, compared to its average volume of 3,320,730. The business has a 50-day moving average of $71.32 and a 200-day moving average of $68.03. Fastenal has a one year low of $58.04 and a one year high of $79.04. The stock has a market cap of $44.53 billion, a PE ratio of 38.61, a PEG ratio of 4.48 and a beta of 1.01. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The company’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 earned $0.52 EPS. Research analysts predict that Fastenal will post 2.03 earnings per share 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. This represents a $1.56 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, October 25th. Fastenal’s payout ratio is currently 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.