Bell Bank cut its stake in Fastenal (NASDAQ:FAST) by 3.6% in the first quarter, HoldingsChannel.com reports. The fund owned 13,614 shares of the company’s stock after selling 511 shares during the period. Bell Bank’s holdings in Fastenal were worth $876,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in FAST. Oregon Public Employees Retirement Fund lifted its holdings in Fastenal by 4,838.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,659,620 shares of the company’s stock valued at $70,000 after acquiring an additional 3,585,509 shares during the period. London Co. of Virginia acquired a new position in Fastenal in the fourth quarter valued at approximately $168,189,000. Norges Bank acquired a new position in Fastenal in the fourth quarter valued at approximately $135,756,000. Bank of New York Mellon Corp lifted its holdings in Fastenal by 7.7% in the fourth quarter. Bank of New York Mellon Corp now owns 15,859,900 shares of the company’s stock valued at $829,314,000 after acquiring an additional 1,134,666 shares during the period. Finally, BlackRock Inc. lifted its holdings in Fastenal by 3.3% in the fourth quarter. BlackRock Inc. now owns 19,919,843 shares of the company’s stock valued at $1,041,607,000 after acquiring an additional 633,546 shares during the period. 85.36% of the stock is owned by institutional investors.
In related news, CAO Sheryl Ann Lisowski sold 9,166 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $64.22, for a total value of $588,640.52. Following the completion of the transaction, the chief accounting officer now directly owns 9,466 shares of the company’s stock, valued at approximately $607,906.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Terry Modock Owen sold 1,875 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $70.62, for a total value of $132,412.50. Following the completion of the transaction, the insider now directly owns 5,375 shares of the company’s stock, valued at $379,582.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 163,470 shares of company stock valued at $11,485,007. Corporate insiders own 0.62% of the company’s stock.
Shares of FAST stock opened at $32.35 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.31 and a quick ratio of 1.97. The company has a market cap of $18.47 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 1.42 and a beta of 1.27. Fastenal has a 1-year low of $23.68 and a 1-year high of $35.94.
Fastenal (NASDAQ:FAST) last announced its earnings results on Thursday, April 11th. The company reported $0.34 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Fastenal had a return on equity of 33.52% and a net margin of 15.16%. During the same period in the prior year, the company posted $0.31 EPS. On average, sell-side analysts forecast that Fastenal will post 1.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, April 24th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 5.32%. The ex-dividend date of this dividend was Tuesday, April 23rd. Fastenal’s payout ratio is 65.15%.
A number of brokerages have issued reports on FAST. ValuEngine downgraded Fastenal from a “sell” rating to a “strong sell” rating in a report on Thursday, May 23rd. BidaskClub raised Fastenal from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 23rd. Zacks Investment Research downgraded Fastenal from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. Buckingham Research boosted their price target on Fastenal from $28.50 to $30.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Raymond James set a $39.00 price target on Fastenal and gave the company a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $30.85.
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Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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