Fastenal (NASDAQ:FAST) Stock Holdings Trimmed by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. decreased its holdings in Fastenal (NASDAQ:FAST) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,083 shares of the company’s stock after selling 611 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Fastenal were worth $1,073,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of FAST. MCF Advisors LLC boosted its holdings in shares of Fastenal by 2,172.2% in the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after acquiring an additional 391 shares in the last quarter. Central Valley Advisors LLC bought a new position in Fastenal during the 2nd quarter valued at $28,000. LRI Investments LLC acquired a new position in shares of Fastenal during the 1st quarter valued at $39,000. Triad Wealth Partners LLC bought a new stake in shares of Fastenal in the 2nd quarter worth $32,000. Finally, Crewe Advisors LLC lifted its holdings in shares of Fastenal by 528.4% in the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after buying an additional 428 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at Fastenal

In other news, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction that occurred on 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 directly owns 286,018 shares in the company, valued at approximately $19,929,734.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the sale, 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 SEC, which is available at this link. Also, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,929,734.24. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Fastenal Price Performance

Shares of FAST stock opened at $70.59 on Wednesday. The firm’s 50 day moving average price is $67.66 and its two-hundred day moving average price is $68.48. The stock has a market cap of $40.42 billion, a PE ratio of 35.12, a PEG ratio of 3.78 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39. Fastenal has a 52-week low of $53.83 and a 52-week high of $79.04.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, July 12th. The company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm posted $0.52 earnings per share. Fastenal’s revenue was up 1.8% compared to the same quarter last year. As a group, analysts forecast that Fastenal will post 2.04 EPS for the current year.

Fastenal Dividend Announcement

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

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.