Anchor Investment Management LLC Sells 636 Shares of Fastenal (NASDAQ:FAST)

Anchor Investment Management LLC lessened its holdings in shares of Fastenal (NASDAQ:FAST) by 19.9% during the 2nd quarter, Holdings Channel reports. The firm owned 2,564 shares of the company’s stock after selling 636 shares during the period. Anchor Investment Management LLC’s holdings in Fastenal were worth $161,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FAST. J. W. Coons Advisors LLC raised its position in shares of Fastenal by 0.9% during the fourth quarter. J. W. Coons Advisors LLC now owns 64,197 shares of the company’s stock valued at $4,158,000 after buying an additional 582 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in Fastenal by 5.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 41,769 shares of the company’s stock valued at $2,705,000 after acquiring an additional 2,050 shares during the last quarter. Cetera Advisor Networks LLC lifted its stake in Fastenal by 4.8% in the 4th quarter. Cetera Advisor Networks LLC now owns 87,495 shares of the company’s stock worth $5,667,000 after purchasing an additional 4,028 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its stake in Fastenal by 1,349.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 65,290 shares of the company’s stock worth $4,229,000 after purchasing an additional 60,784 shares in the last quarter. Finally, American International Group Inc. boosted its holdings in shares of Fastenal by 0.4% during the 4th quarter. American International Group Inc. now owns 196,683 shares of the company’s stock valued at $12,739,000 after purchasing an additional 743 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Trading Down 0.7 %

Shares of FAST stock opened at $70.18 on Friday. The company has a market cap of $40.18 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 3.92 and a beta of 1.01. Fastenal has a 1 year low of $54.69 and a 1 year high of $79.04. The stock’s 50 day simple moving average is $68.57 and its two-hundred day simple moving average is $68.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. Fastenal’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share. Research analysts predict that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were given a $0.39 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.56 dividend on an annualized basis and a yield of 2.22%. Fastenal’s dividend payout ratio is presently 77.61%.

Insider Buying and Selling

In related news, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction on 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 directly owns 286,018 shares in the company, valued at $19,929,734.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction on 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 directly owns 286,018 shares in the company, valued at $19,929,734.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 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 approximately $19,489,266.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on FAST. Stephens reaffirmed an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a report on Monday, July 15th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 price objective (down previously from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Morgan Stanley initiated coverage on Fastenal in a research report on Friday, September 6th. They set an “equal weight” rating and a $72.00 target price for the company. Finally, Jefferies Financial Group reduced their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Fastenal currently has a consensus 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.