Park Place Capital Corp Sells 291 Shares of Fastenal (NASDAQ:FAST)

Park Place Capital Corp trimmed its holdings in Fastenal (NASDAQ:FAST) by 30.3% in the first quarter, HoldingsChannel reports. The fund owned 670 shares of the company’s stock after selling 291 shares during the period. Park Place Capital Corp’s holdings in Fastenal were worth $52,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Essex Financial Services Inc. lifted its holdings in shares of Fastenal by 1.8% in the 4th quarter. Essex Financial Services Inc. now owns 8,539 shares of the company’s stock worth $553,000 after acquiring an additional 148 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in Fastenal by 0.8% during the 4th quarter. Panagora Asset Management Inc. now owns 19,095 shares of the company’s stock valued at $1,237,000 after buying an additional 152 shares during the last quarter. Hartford Financial Management Inc. raised its holdings in Fastenal by 46.9% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after buying an additional 153 shares during the last quarter. Accredited Investors Inc. raised its holdings in Fastenal by 0.9% during the 4th quarter. Accredited Investors Inc. now owns 18,129 shares of the company’s stock valued at $1,174,000 after buying an additional 164 shares during the last quarter. Finally, Empirical Asset Management LLC raised its holdings in Fastenal by 2.4% during the 4th quarter. Empirical Asset Management LLC now owns 7,212 shares of the company’s stock valued at $467,000 after buying an additional 171 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insider Transactions at Fastenal

In other Fastenal news, Director Hsenghung Sam Hsu bought 500 shares of Fastenal stock in a transaction dated Monday, June 10th. The shares were purchased at an average cost of $63.28 per share, with a total value of $31,640.00. Following the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at $221,480. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Hsenghung Sam Hsu acquired 500 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were bought at an average cost of $63.28 per share, with a total value of $31,640.00. Following the transaction, the director now owns 3,500 shares of the company’s stock, valued at approximately $221,480. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James C. Jansen sold 11,428 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total transaction of $732,191.96. Following the sale, the executive vice president now directly owns 26,176 shares in the company, valued at $1,677,096.32. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

Fastenal Stock Down 1.2 %

NASDAQ:FAST opened at $62.09 on Tuesday. The firm’s 50-day moving average price is $65.84 and its 200-day moving average price is $68.65. The company has a market capitalization of $35.55 billion, a PE ratio of 30.74, a P/E/G ratio of 3.36 and a beta of 1.01. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. Fastenal has a 1-year low of $53.83 and a 1-year high of $79.04.

Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. On average, equities analysts predict that Fastenal will post 2.08 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Wednesday, April 24th. Fastenal’s dividend payout ratio is presently 77.23%.

Fastenal 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.