Fastenal (FAST) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its stake in Fastenal (NASDAQ:FAST) by 19.2% in the third quarter, Holdings Channel reports. The institutional investor owned 22,480 shares of the company’s stock after selling 5,341 shares during the period. Oppenheimer & Co. Inc.’s holdings in Fastenal were worth $1,304,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. raised its holdings in shares of Fastenal by 1.4% in the second quarter. BlackRock Inc. now owns 19,318,036 shares of the company’s stock worth $929,778,000 after buying an additional 268,614 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in shares of Fastenal by 5.2% in the second quarter. OppenheimerFunds Inc. now owns 5,666,164 shares of the company’s stock worth $272,713,000 after buying an additional 282,020 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Fastenal by 3.3% in the second quarter. Northern Trust Corp now owns 3,437,593 shares of the company’s stock worth $165,451,000 after buying an additional 108,486 shares during the last quarter. Cantillon Capital Management LLC purchased a new position in shares of Fastenal in the second quarter worth $154,074,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Fastenal by 17.4% in the second quarter. Janus Henderson Group PLC now owns 2,520,269 shares of the company’s stock worth $121,301,000 after buying an additional 373,989 shares during the last quarter. 86.37% of the stock is owned by institutional investors and hedge funds.

In other news, Director Daniel L. Johnson purchased 965 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The shares were bought at an average price of $51.56 per share, for a total transaction of $49,755.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Joseph Drazkowski bought 830 shares of the company’s stock in a transaction dated Tuesday, October 23rd. The stock was bought at an average price of $50.54 per share, for a total transaction of $41,948.20. Following the transaction, the insider now owns 2,790 shares of the company’s stock, valued at $141,006.60. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 5,795 shares of company stock worth $299,849. 0.56% of the stock is owned by company insiders.

A number of analysts have recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Fastenal from $53.00 to $56.00 and gave the stock a “hold” rating in a research note on Friday, July 13th. BidaskClub upgraded shares of Fastenal from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. ValuEngine upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Saturday, July 14th. Finally, Buckingham Research assumed coverage on shares of Fastenal in a research note on Monday, October 22nd. They issued a “neutral” rating and a $50.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Fastenal presently has an average rating of “Hold” and an average target price of $56.40.

FAST stock opened at $52.76 on Friday. The firm has a market cap of $15.15 billion, a P/E ratio of 21.19, a PEG ratio of 1.46 and a beta of 1.01. The company has a current ratio of 5.35, a quick ratio of 2.48 and a debt-to-equity ratio of 0.17. Fastenal has a one year low of $46.72 and a one year high of $61.14.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Wednesday, October 10th. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.29%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business earned $0.50 earnings per share. Research analysts predict that Fastenal will post 2.58 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, October 24th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, October 23rd. This represents a $1.60 annualized dividend and a yield of 3.03%. Fastenal’s dividend payout ratio is presently 82.90%.

Fastenal Profile

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.

Further Reading: Average Daily Trade Volume – ADTV

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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