King Luther Capital Management Corp Has $619,000 Stock Position in Fastenal (NASDAQ:FAST)

King Luther Capital Management Corp lifted its position in shares of Fastenal (NASDAQ:FAST) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,664 shares of the company’s stock after purchasing an additional 136 shares during the quarter. King Luther Capital Management Corp’s holdings in Fastenal were worth $619,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Verdence Capital Advisors LLC grew its stake in shares of Fastenal by 1.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock valued at $545,000 after purchasing an additional 142 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in Fastenal by 5.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock valued at $186,000 after acquiring an additional 143 shares during the period. Compass Ion Advisors LLC raised its stake in Fastenal by 1.5% during the third quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock worth $709,000 after acquiring an additional 146 shares in the last quarter. Catalina Capital Group LLC lifted its holdings in shares of Fastenal by 4.5% during the third quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock valued at $240,000 after acquiring an additional 146 shares during the period. Finally, Sara Bay Financial boosted its stake in shares of Fastenal by 1.3% in the 2nd quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock valued at $746,000 after purchasing an additional 155 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FAST shares. Stephens increased their target price on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $86.00 target price (up previously from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Bank of America initiated coverage on Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price target on the stock. Robert W. Baird lifted their price objective on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Morgan Stanley increased their target price on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $74.80.

Insiders Place Their Bets

In other Fastenal news, CEO Daniel L. Florness sold 31,818 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $24,168,521. This trade represents a 10.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Sheryl Ann Lisowski sold 13,567 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.19, for a total transaction of $1,033,669.73. Following the completion of the transaction, the chief accounting officer now owns 5,096 shares of the company’s stock, valued at $388,264.24. This trade represents a 72.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 208,289 shares of company stock worth $16,123,438. Corporate insiders own 0.41% of the company’s stock.

Fastenal Trading Up 0.9 %

FAST stock opened at $83.08 on Friday. The company has a market cap of $47.60 billion, a P/E ratio of 41.33, a PEG ratio of 4.83 and a beta of 0.99. Fastenal has a twelve month low of $59.47 and a twelve month high of $84.88. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $76.26 and a 200-day moving average of $69.74.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. Fastenal’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities research analysts expect that Fastenal will post 2.03 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Friday, October 25th. Fastenal’s payout ratio is presently 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.