Mutual of America Capital Management LLC Sells 1,705 Shares of Fastenal (NASDAQ:FAST)

Mutual of America Capital Management LLC lessened its position in Fastenal (NASDAQ:FAST) by 2.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 70,528 shares of the company’s stock after selling 1,705 shares during the period. Mutual of America Capital Management LLC’s holdings in Fastenal were worth $5,037,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of FAST. Ashton Thomas Securities LLC acquired a new stake in shares of Fastenal in the 3rd quarter worth about $25,000. Central Valley Advisors LLC bought a new stake in Fastenal during the second quarter worth $28,000. Moisand Fitzgerald Tamayo LLC raised its position in Fastenal by 1,019.0% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after buying an additional 428 shares during the last quarter. LRI Investments LLC purchased a new position in Fastenal during the 1st quarter worth $39,000. Finally, First Personal Financial Services bought a new stake in shares of Fastenal in the 3rd quarter worth $36,000. Institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

FAST has been the subject of a number of research analyst reports. UBS Group began coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target for the company. Bank of America assumed coverage on shares of Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 price target on the stock. Morgan Stanley lifted their price objective on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Stifel Nicolaus reissued a “buy” rating and set a $86.00 target price (up from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $74.80.

Fastenal Stock Up 0.3 %

FAST stock opened at $81.82 on Thursday. Fastenal has a twelve month low of $59.47 and a twelve month high of $84.88. The firm has a market capitalization of $46.87 billion, a PE ratio of 40.71, a PEG ratio of 4.80 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 stock has a 50-day simple moving average of $75.74 and a two-hundred day simple moving average of $69.51.

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

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.91%. The ex-dividend date is Friday, October 25th. Fastenal’s dividend payout ratio is currently 77.61%.

Insider Activity at Fastenal

In related news, CEO Daniel L. Florness sold 31,818 shares of Fastenal stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at $24,168,521. The trade was a 10.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sheryl Ann Lisowski sold 13,567 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.19, for a total transaction of $1,033,669.73. Following the completion of the sale, the chief accounting officer now directly owns 5,096 shares in the company, valued at $388,264.24. This represents a 72.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,289 shares of company stock valued at $16,123,438. Insiders own 0.41% of the company’s stock.

Fastenal Company 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.