Fastenal (NASDAQ:FAST) Shares Sold by Greenleaf Trust

Greenleaf Trust lowered its holdings in Fastenal (NASDAQ:FAST) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,355 shares of the company’s stock after selling 2,212 shares during the period. Greenleaf Trust’s holdings in Fastenal were worth $2,614,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Hartford Financial Management Inc. increased its position in shares of Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after acquiring an additional 153 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Fastenal in the fourth quarter worth $35,000. Sunbelt Securities Inc. grew its holdings in Fastenal by 131.7% during the 2nd quarter. Sunbelt Securities Inc. now owns 600 shares of the company’s stock valued at $35,000 after purchasing an additional 341 shares in the last quarter. Quarry LP grew its holdings in Fastenal by 184.9% during the 1st quarter. Quarry LP now owns 678 shares of the company’s stock valued at $37,000 after purchasing an additional 440 shares in the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new stake in Fastenal during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FAST shares. Loop Capital lowered their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Robert W. Baird lowered their price target on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, April 12th. HSBC raised their price target on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday, April 15th. Finally, Stifel Nicolaus raised their price target on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.67.

Insider Transactions at Fastenal

In other Fastenal news, Director Daniel L. Johnson purchased 3,350 shares of Fastenal stock in a transaction dated Wednesday, April 17th. The shares were bought at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the transaction, the director now owns 10,595 shares in the company, valued at approximately $724,486.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider William Joseph Drazkowski sold 11,968 shares of Fastenal stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $69.10, for a total value of $826,988.80. Following the sale, the insider now directly owns 5,997 shares in the company, valued at approximately $414,392.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel L. Johnson acquired 3,350 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was purchased at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the transaction, the director now owns 10,595 shares in the company, valued at $724,486.10. The disclosure for this purchase can be found here. In the last three months, insiders have sold 71,640 shares of company stock worth $5,044,657. 0.41% of the stock is currently owned by insiders.

Fastenal Trading Up 0.1 %

NASDAQ FAST opened at $67.57 on Friday. Fastenal has a 12 month low of $52.28 and a 12 month high of $79.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The company has a market capitalization of $38.69 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 3.53 and a beta of 1.05. The company’s fifty day moving average price is $73.62 and its two-hundred day moving average price is $66.29.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business posted $0.52 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, research analysts predict that Fastenal will post 2.13 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.31%. Fastenal’s payout ratio is currently 77.23%.

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.