New York State Common Retirement Fund Sells 40,037 Shares of Fastenal (NASDAQ:FAST)

New York State Common Retirement Fund lessened its holdings in Fastenal (NASDAQ:FAST) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 854,211 shares of the company’s stock after selling 40,037 shares during the period. New York State Common Retirement Fund owned about 0.15% of Fastenal worth $55,327,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Fastenal by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company’s stock valued at $751,780,000 after purchasing an additional 423,112 shares in the last quarter. Morgan Stanley increased its holdings in Fastenal by 4.1% in the third quarter. Morgan Stanley now owns 8,582,669 shares of the company’s stock worth $468,957,000 after purchasing an additional 337,168 shares in the last quarter. Northern Trust Corp increased its holdings in Fastenal by 5.9% in the third quarter. Northern Trust Corp now owns 7,444,498 shares of the company’s stock worth $406,767,000 after purchasing an additional 413,572 shares in the last quarter. Invesco Ltd. increased its holdings in Fastenal by 16.5% in the third quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock worth $368,563,000 after purchasing an additional 957,091 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Fastenal by 9.3% during the third quarter. Royal Bank of Canada now owns 6,651,629 shares of the company’s stock valued at $363,445,000 after acquiring an additional 568,372 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of Fastenal stock opened at $67.51 on Wednesday. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $38.65 billion, a PE ratio of 33.42, a price-to-earnings-growth ratio of 3.53 and a beta of 1.05. The business’s 50-day moving average price is $73.54 and its 200-day moving average price is $66.63. Fastenal has a 12 month low of $52.28 and a 12 month high of $79.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. Fastenal’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 earnings per share. Sell-side analysts forecast that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Announces Dividend

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

Insiders Place Their Bets

In other news, insider Jeffery Michael Watts sold 19,420 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total value of $1,364,255.00. Following the completion of the transaction, the insider now owns 5,940 shares in the company, valued at approximately $417,285. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Jeffery Michael Watts sold 19,420 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total transaction of $1,364,255.00. Following the completion of the transaction, the insider now owns 5,940 shares of the company’s stock, valued at approximately $417,285. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel L. Johnson acquired 3,350 shares of Fastenal stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average cost of $68.38 per share, with a total value of $229,073.00. Following 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 90 days, insiders sold 48,050 shares of company stock worth $3,411,049. 0.41% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on FAST. HSBC boosted their price objective on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Robert W. Baird dropped their price target on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Loop Capital dropped their price target on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Finally, Stifel Nicolaus increased their price objective on Fastenal from $75.00 to $85.00 and gave the stock 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $67.67.

About Fastenal

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.