Bradley Foster & Sargent Inc. CT Sells 1,375 Shares of Fastenal (NASDAQ:FAST)

Bradley Foster & Sargent Inc. CT decreased its holdings in Fastenal (NASDAQ:FAST) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,140 shares of the company’s stock after selling 1,375 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Fastenal were worth $3,905,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Penobscot Investment Management Company Inc. lifted its holdings in shares of Fastenal by 1.1% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock valued at $1,030,000 after acquiring an additional 150 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Fastenal by 0.8% in the 4th quarter. Panagora Asset Management Inc. now owns 19,095 shares of the company’s stock valued at $1,237,000 after acquiring an additional 152 shares during the last quarter. Sara Bay Financial lifted its holdings in shares of Fastenal by 1.3% in the 2nd quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock valued at $746,000 after acquiring an additional 155 shares during the last quarter. Trueblood Wealth Management LLC lifted its holdings in shares of Fastenal by 1.4% in the 2nd quarter. Trueblood Wealth Management LLC now owns 11,314 shares of the company’s stock valued at $711,000 after acquiring an additional 156 shares during the last quarter. Finally, Team Hewins LLC lifted its holdings in shares of Fastenal by 4.8% in the 1st quarter. Team Hewins LLC now owns 3,404 shares of the company’s stock valued at $263,000 after acquiring an additional 157 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FAST shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 price target (down previously from $85.00) on shares of Fastenal in a report on Monday, July 15th. Stephens restated an “equal weight” rating and set a $56.00 target price on shares of Fastenal in a research report on Monday, July 15th. Morgan Stanley began coverage on Fastenal in a research report on Friday, September 6th. They set an “equal weight” rating and a $72.00 target price for the company. Finally, Jefferies Financial Group dropped their target price on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and a consensus target price of $67.43.

Fastenal Stock Down 0.2 %

Shares of NASDAQ FAST opened at $70.47 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39. The firm has a market capitalization of $40.35 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 3.78 and a beta of 1.01. The stock has a 50 day moving average price of $67.80 and a 200 day moving average price of $68.50. Fastenal has a 52-week low of $53.83 and a 52-week high of $79.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. Fastenal’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 earnings per share. Sell-side analysts expect that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Friday, July 26th. Fastenal’s dividend payout ratio (DPR) is 77.61%.

Insider Buying and Selling

In related news, CEO Daniel L. Florness sold 50,000 shares of the business’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 value 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Daniel L. Florness sold 45,744 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,929,734.24. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

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.