Fastenal (NASDAQ:FAST) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its position in shares of Fastenal (NASDAQ:FAST) by 60.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,796 shares of the company’s stock after selling 18,051 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Fastenal were worth $842,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. ProShare Advisors LLC lifted its holdings in shares of Fastenal by 497.3% during the 1st quarter. ProShare Advisors LLC now owns 3,099,333 shares of the company’s stock valued at $239,083,000 after acquiring an additional 2,580,478 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Fastenal by 4,008.2% during the second quarter. Marshall Wace LLP now owns 756,241 shares of the company’s stock worth $47,522,000 after purchasing an additional 737,833 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Fastenal by 19.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock worth $241,161,000 after buying an additional 636,546 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Fastenal in the second quarter valued at about $37,659,000. Finally, TD Asset Management Inc raised its holdings in shares of Fastenal by 21.2% during the 1st quarter. TD Asset Management Inc now owns 3,248,853 shares of the company’s stock valued at $250,617,000 after buying an additional 569,118 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Fastenal

In related news, Director Nicholas J. Lundquist sold 22,532 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $77.15, for a total transaction of $1,738,343.80. Following the completion of the sale, the director now owns 426,000 shares of the company’s stock, valued at $32,865,900. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Sheryl Ann Lisowski sold 13,567 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $76.19, for a total transaction of $1,033,669.73. Following the completion of the transaction, the chief accounting officer now owns 5,096 shares in the company, valued at approximately $388,264.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicholas J. Lundquist sold 22,532 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $77.15, for a total transaction of $1,738,343.80. Following the completion of the sale, the director now directly owns 426,000 shares in the company, valued at approximately $32,865,900. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,331 shares of company stock worth $11,705,854. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Stifel Nicolaus restated a “buy” rating and issued a $86.00 price target (up previously from $80.00) on shares of Fastenal in a report on Monday. Bank of America initiated 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. Robert W. Baird boosted their price objective on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday. Morgan Stanley upped their price objective on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Stephens boosted their price target on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.33.

Fastenal Stock Down 0.2 %

NASDAQ:FAST opened at $77.64 on Friday. 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 company has a market capitalization of $44.45 billion, a price-to-earnings ratio of 38.63, a price-to-earnings-growth ratio of 4.13 and a beta of 1.01. Fastenal has a one year low of $56.41 and a one year high of $79.04. The stock has a 50-day simple moving average of $69.69 and a 200 day simple moving average of $68.02.

Fastenal (NASDAQ:FAST) last issued its quarterly 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 business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 EPS. Sell-side analysts predict that Fastenal will post 2.04 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.01%. Fastenal’s dividend payout ratio (DPR) is 77.61%.

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.