Signaturefd LLC Has $533,000 Stake in Fastenal (NASDAQ:FAST)

Signaturefd LLC decreased its position in shares of Fastenal (NASDAQ:FAST) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,469 shares of the company’s stock after selling 213 shares during the quarter. Signaturefd LLC’s holdings in Fastenal were worth $533,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. MCF Advisors LLC boosted its holdings in shares of Fastenal by 2,172.2% during the 1st 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 worth $28,000. Moisand Fitzgerald Tamayo LLC raised its position in Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after purchasing an additional 428 shares during the last quarter. LRI Investments LLC bought a new position in Fastenal during the 1st quarter worth $39,000. Finally, Triad Wealth Partners LLC bought a new position in Fastenal during the 2nd quarter worth $32,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of Fastenal stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of Fastenal stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Joseph Drazkowski sold 16,362 shares of Fastenal stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.65, for a total value of $1,270,509.30. Following the transaction, the insider now owns 5,997 shares of the company’s stock, valued at $465,667.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,373 shares of company stock worth $13,029,308. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on FAST shares. Jefferies Financial Group lowered their target price 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 raised their target price on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Bank of America began coverage on Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $86.00 price objective (up from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Fastenal presently has an average rating of “Hold” and an average price target of $73.33.

Fastenal Stock Performance

Shares of Fastenal stock opened at $75.85 on Friday. Fastenal has a one year low of $57.01 and a one year high of $79.04. The firm has a market capitalization of $43.43 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 4.13 and a beta of 1.01. The business has a 50-day simple moving average of $70.74 and a 200 day simple moving average of $68.04. 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 earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period in the previous year, the company posted $0.52 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, research analysts anticipate that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Friday, October 25th. Fastenal’s payout ratio is 77.61%.

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.