Raymond James Trust N.A. Sells 1,863 Shares of Fastenal (NASDAQ:FAST)

Raymond James Trust N.A. lessened its stake in shares of Fastenal (NASDAQ:FAST) by 4.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,126 shares of the company’s stock after selling 1,863 shares during the quarter. Raymond James Trust N.A.’s holdings in Fastenal were worth $1,990,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FAST. Pacitti Group Inc. bought a new stake in shares of Fastenal in the second quarter worth $26,000. Barrett Asset Management LLC bought a new stake in shares of Fastenal in the second quarter worth $34,000. Norway Savings Bank bought a new stake in shares of Fastenal in the third quarter worth $36,000. Balentine LLC bought a new stake in shares of Fastenal in the first quarter worth $41,000. Finally, Ropes Wealth Advisors LLC grew its stake in shares of Fastenal by 314.4% in the second quarter. Ropes Wealth Advisors LLC now owns 1,326 shares of the company’s stock worth $57,000 after purchasing an additional 1,006 shares during the last quarter. 77.18% of the stock is currently owned by hedge funds and other institutional investors.

In other Fastenal news, insider William Joseph Drazkowski sold 28,554 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $45.59, for a total value of $1,301,776.86. Following the completion of the sale, the insider now directly owns 9,330 shares of the company’s stock, valued at approximately $425,354.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Terry Modock Owen sold 1,250 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $49.53, for a total transaction of $61,912.50. The disclosure for this sale can be found here. Insiders sold a total of 96,724 shares of company stock worth $4,473,812 in the last 90 days. 0.57% of the stock is currently owned by company insiders.

Shares of NASDAQ FAST opened at $45.26 on Friday. The firm’s 50-day moving average price is $45.63 and its 200-day moving average price is $42.19. Fastenal has a 1-year low of $26.72 and a 1-year high of $49.86. The firm has a market capitalization of $25.96 billion, a P/E ratio of 31.00, a P/E/G ratio of 3.63 and a beta of 1.19. The company has a current ratio of 4.13, a quick ratio of 1.91 and a debt-to-equity ratio of 0.15.

Fastenal (NASDAQ:FAST) last posted its earnings results on Sunday, October 18th. The company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.01. Fastenal had a net margin of 15.07% and a return on equity of 31.19%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business posted $0.37 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. Equities research analysts forecast that Fastenal will post 1.46 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, October 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. Fastenal’s dividend payout ratio is presently 72.46%.

FAST has been the topic of several analyst reports. UBS Group initiated coverage on shares of Fastenal in a research note on Tuesday, September 15th. They issued a “neutral” rating and a $44.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of Fastenal from an “underweight” rating to a “neutral” rating and set a $34.00 target price on the stock in a report on Tuesday, June 23rd. Morgan Stanley boosted their target price on shares of Fastenal from $46.00 to $47.00 and gave the company an “equal weight” rating in a report on Wednesday. ValuEngine lowered shares of Fastenal from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. Finally, Wells Fargo & Company lowered shares of Fastenal from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a report on Thursday, September 3rd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $44.36.

Fastenal Company 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.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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