Tikehau Investment Management Sells 866 Shares of Fastenal (NASDAQ:FAST)

Tikehau Investment Management decreased its holdings in Fastenal (NASDAQ:FAST) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 85,030 shares of the company’s stock after selling 866 shares during the quarter. Fastenal accounts for approximately 4.7% of Tikehau Investment Management’s holdings, making the stock its 13th biggest holding. Tikehau Investment Management’s holdings in Fastenal were worth $5,343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Penobscot Investment Management Company Inc. grew its position in Fastenal by 1.1% in the first 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 period. Sara Bay Financial increased its position in shares of Fastenal by 1.3% during the 2nd quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock worth $746,000 after purchasing an additional 155 shares in the last quarter. Trueblood Wealth Management LLC lifted its holdings in Fastenal by 1.4% during the 2nd quarter. Trueblood Wealth Management LLC now owns 11,314 shares of the company’s stock valued at $711,000 after purchasing an additional 156 shares during the last quarter. Team Hewins LLC lifted its holdings in Fastenal by 4.8% during the 1st quarter. Team Hewins LLC now owns 3,404 shares of the company’s stock valued at $263,000 after purchasing an additional 157 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its position in Fastenal by 2.0% in the first quarter. Bleakley Financial Group LLC now owns 8,173 shares of the company’s stock valued at $630,000 after buying an additional 159 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of the firm’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 transaction, the chief executive officer now directly 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 SEC, which is available through this hyperlink. In related news, CEO Daniel L. Florness sold 50,000 shares of the company’s 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 sale, the chief executive officer now owns 286,018 shares in the company, valued at $19,929,734.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel L. Florness sold 45,744 shares of the firm’s 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 transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,489,266.52. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Fastenal Stock Down 0.0 %

Shares of FAST opened at $71.81 on Wednesday. The business’s fifty day moving average price is $68.18 and its two-hundred day moving average price is $68.35. The firm has a market capitalization of $41.11 billion, a price-to-earnings ratio of 35.73, a PEG ratio of 3.78 and a beta of 1.01. Fastenal has a 52 week low of $53.94 and a 52 week high of $79.04. 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 (NASDAQ:FAST) last posted its quarterly earnings results on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. The business 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 firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share. On average, analysts predict that Fastenal will post 2.04 earnings per share for the current 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 given 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 was Friday, July 26th. Fastenal’s dividend payout ratio is 77.61%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FAST. Stifel Nicolaus reaffirmed a “buy” rating and set a $80.00 price objective (down previously from $85.00) on shares of Fastenal in a report on Monday, July 15th. Jefferies Financial Group cut their price objective on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Morgan Stanley assumed coverage on Fastenal in a research note on Friday, September 6th. They issued an “equal weight” rating and a $72.00 price objective on the stock. Finally, Stephens restated an “equal weight” rating and issued a $56.00 target price 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 given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $67.43.

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.