Fastenal (NASDAQ:FAST) Shares Acquired by Montecito Bank & Trust

Montecito Bank & Trust grew its position in shares of Fastenal (NASDAQ:FAST) by 103.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,360 shares of the company’s stock after buying an additional 5,272 shares during the period. Montecito Bank & Trust’s holdings in Fastenal were worth $740,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of FAST. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Fastenal by 5.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock worth $186,000 after purchasing an additional 143 shares during the last quarter. Compass Ion Advisors LLC boosted its holdings in shares of Fastenal by 1.5% in the 3rd quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock valued at $709,000 after buying an additional 146 shares during the period. Catalina Capital Group LLC grew its position in shares of Fastenal by 4.5% during the 3rd quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock valued at $240,000 after buying an additional 146 shares during the last quarter. Penobscot Investment Management Company Inc. raised its stake in Fastenal by 1.1% during the first 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 period. Finally, Sara Bay Financial lifted its holdings in Fastenal by 1.3% in the second quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock worth $746,000 after acquiring an additional 155 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

FAST stock opened at $83.10 on Friday. The company has a market capitalization of $47.61 billion, a P/E ratio of 41.34, a PEG ratio of 4.56 and a beta of 0.99. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $72.67 and a 200 day simple moving average of $68.48. Fastenal has a fifty-two week low of $59.00 and a fifty-two week high of $83.80.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same period last year, the firm posted $0.52 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis. Sell-side analysts predict that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Friday, October 25th. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Insider Transactions at Fastenal

In related news, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,929,734.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,929,734.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rita J. Heise sold 10,888 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $77.67, for a total value of $845,670.96. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,553,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 190,261 shares of company stock valued at $13,874,979. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the subject of several recent research reports. Morgan Stanley upped their target price on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Robert W. Baird increased their target price on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. 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. Stephens increased their price objective on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Finally, 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 research report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.33.

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.