Mount Yale Investment Advisors LLC Sells 545 Shares of Fastenal (NASDAQ:FAST)

Mount Yale Investment Advisors LLC trimmed its holdings in Fastenal (NASDAQ:FAST) by 5.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,294 shares of the company’s stock after selling 545 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Fastenal were worth $584,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Central Valley Advisors LLC bought a new stake in shares of Fastenal during the 2nd quarter valued at $28,000. MCF Advisors LLC lifted its position in Fastenal by 2,172.2% during the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after purchasing an additional 391 shares during the period. Triad Wealth Partners LLC acquired a new stake in Fastenal during the second quarter worth about $32,000. Crewe Advisors LLC increased its holdings in Fastenal by 528.4% in the 2nd 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. Finally, OFI Invest Asset Management acquired a new position in shares of Fastenal in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

FAST has been the topic of several analyst reports. Stephens reiterated an “equal weight” rating and set a $56.00 price target on shares of Fastenal in a research report on Monday, July 15th. Morgan Stanley initiated coverage on Fastenal in a report on Friday, September 6th. They issued an “equal weight” rating and a $72.00 target price on the stock. Jefferies Financial Group lowered their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 price objective (down from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $67.43.

Insider Transactions at Fastenal

In related news, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,489,266.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Fastenal news, CEO Daniel L. Florness sold 45,744 shares of the firm’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 transaction of $3,116,996.16. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,489,266.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the sale, 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 owned by company insiders.

Fastenal Trading Up 1.5 %

Shares of FAST stock opened at $71.83 on Tuesday. Fastenal has a twelve month low of $53.94 and a twelve month high of $79.04. The stock’s fifty day simple moving average is $68.13 and its 200 day simple moving average is $68.38. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $41.13 billion, a P/E ratio of 35.74, a P/E/G ratio of 3.78 and a beta of 1.01.

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

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, July 26th. Fastenal’s payout ratio is currently 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.