Coldstream Capital Management Inc. Buys 2,183 Shares of Fastenal (NASDAQ:FAST)

Coldstream Capital Management Inc. boosted its stake in Fastenal (NASDAQ:FAST) by 21.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,538 shares of the company’s stock after acquiring an additional 2,183 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Fastenal were worth $921,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Fastenal by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock worth $1,188,251,000 after buying an additional 880,372 shares in the last quarter. Brophy Wealth Management LLC acquired a new position in Fastenal in the 3rd quarter valued at about $716,000. Marshfield Associates grew its position in shares of Fastenal by 0.5% during the 3rd quarter. Marshfield Associates now owns 2,011,096 shares of the company’s stock worth $143,632,000 after purchasing an additional 10,123 shares in the last quarter. LRI Investments LLC grew its position in shares of Fastenal by 169.4% during the 3rd quarter. LRI Investments LLC now owns 1,355 shares of the company’s stock worth $97,000 after purchasing an additional 852 shares in the last quarter. Finally, Hamilton Capital LLC acquired a new position in shares of Fastenal during the 3rd quarter worth approximately $207,000. 81.38% of the stock is owned by institutional investors.

Insider Activity

In related news, insider William Joseph Drazkowski sold 16,362 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $77.65, for a total transaction of $1,270,509.30. Following the sale, the insider now owns 5,997 shares of the company’s stock, valued at approximately $465,667.05. This represents a 73.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Anthony Paul Broersma sold 680 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The disclosure for this sale can be found here. Insiders have sold a total of 158,289 shares of company stock valued at $12,639,438 over the last quarter. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FAST. Bank of America began coverage on shares of Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 price target for the company. Stifel Nicolaus cut shares of Fastenal from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research report on Wednesday. UBS Group assumed coverage on shares of Fastenal in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 price target for the company. Robert W. Baird lifted their target price on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, Jefferies Financial Group lifted their target price on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $77.40.

Fastenal Trading Down 0.3 %

NASDAQ:FAST opened at $79.04 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. The firm has a 50-day moving average of $79.14 and a 200-day moving average of $71.14. The company has a market cap of $45.28 billion, a PE ratio of 39.32, a PEG ratio of 4.79 and a beta of 1.00. Fastenal has a one year low of $61.33 and a one year high of $84.88.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating 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 net margin of 15.44% and a return on equity of 33.30%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 earnings per share. As a group, equities research analysts expect that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, October 25th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, October 25th. Fastenal’s dividend payout ratio (DPR) 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.