FinTrust Capital Advisors LLC reduced its position in Fastenal (NASDAQ:FAST) by 23.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 900 shares of the company’s stock after selling 270 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in Fastenal were worth $41,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. AlphaStar Capital Management LLC lifted its position in shares of Fastenal by 3.6% during the 2nd quarter. AlphaStar Capital Management LLC now owns 11,885 shares of the company’s stock valued at $523,000 after acquiring an additional 414 shares during the period. Norway Savings Bank acquired a new position in shares of Fastenal during the 3rd quarter valued at $36,000. FMR LLC lifted its position in shares of Fastenal by 72.5% during the 2nd quarter. FMR LLC now owns 1,627,880 shares of the company’s stock valued at $69,738,000 after acquiring an additional 684,114 shares during the period. Algert Global LLC lifted its position in shares of Fastenal by 76.7% during the 2nd quarter. Algert Global LLC now owns 47,824 shares of the company’s stock valued at $2,049,000 after acquiring an additional 20,758 shares during the period. Finally, Teza Capital Management LLC acquired a new position in shares of Fastenal during the 2nd quarter valued at $254,000. 77.18% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on the stock. Wells Fargo & Company downgraded shares of Fastenal from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock. in a report on Thursday, September 3rd. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Fastenal from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a report on Tuesday, August 4th. Argus increased their target price on shares of Fastenal from $43.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, October 15th. Raymond James downgraded shares of Fastenal from a “market perform” rating to an “underperform” rating in a report on Friday, September 4th. Finally, BidaskClub downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a report on Thursday, September 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $44.36.
Fastenal (NASDAQ:FAST) last issued its earnings results on Sunday, October 18th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. Fastenal had a net margin of 15.12% and a return on equity of 30.63%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. Analysts anticipate that Fastenal will post 1.47 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Wednesday, December 2nd will be issued a $0.40 dividend. Fastenal’s payout ratio is 72.46%.
In other news, VP Terry Modock Owen sold 1,250 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $49.53, for a total value of $61,912.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Hsenghung Sam Hsu bought 2,000 shares of the stock in a transaction that occurred on Monday, October 19th. The stock was bought at an average cost of $44.75 per share, for a total transaction of $89,500.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at $44,750. The disclosure for this purchase can be found here. Over the last three months, insiders bought 4,100 shares of company stock worth $183,522. Insiders own 0.57% of the company’s stock.
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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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