Bahl & Gaynor Inc. Lowers Position in Fastenal (NASDAQ:FAST)

Bahl & Gaynor Inc. lowered its stake in shares of Fastenal (NASDAQ:FAST) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 851,420 shares of the company’s stock after selling 21,116 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Fastenal were worth $55,146,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FAST. Hartford Financial Management Inc. increased its holdings in Fastenal by 46.9% in the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after buying an additional 153 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Fastenal in the 4th quarter worth approximately $35,000. Criterion Capital Advisors LLC acquired a new position in Fastenal in the 4th quarter worth approximately $43,000. Pacific Center for Financial Services purchased a new stake in Fastenal in the 3rd quarter worth approximately $66,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in Fastenal by 77.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock worth $70,000 after purchasing an additional 474 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Up 0.0 %

NASDAQ FAST opened at $68.17 on Friday. The business has a fifty day moving average price of $73.41 and a 200 day moving average price of $66.73. Fastenal has a one year low of $52.66 and a one year high of $79.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. The company has a market cap of $39.03 billion, a P/E ratio of 33.75, a P/E/G ratio of 3.57 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last posted 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). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Research analysts anticipate that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s dividend payout ratio is currently 77.23%.

Wall Street Analyst Weigh In

FAST has been the topic of several recent research reports. Loop Capital lowered their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. HSBC upped 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 decreased their target price on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Finally, Stifel Nicolaus increased their target price on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $67.67.

Insider Activity at Fastenal

In related news, VP Charles S. Miller sold 11,076 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.16, for a total value of $832,472.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel L. Johnson bought 3,350 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was bought at an average cost of $68.38 per share, with a total value of $229,073.00. Following the completion of the purchase, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 36,082 shares of company stock valued at $2,584,060. 0.41% of the stock is owned by insiders.

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.