Quarry LP Sells 675 Shares of Fastenal (NASDAQ:FAST)

Quarry LP lessened its holdings in Fastenal (NASDAQ:FAST) by 40.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,012 shares of the company’s stock after selling 675 shares during the period. Quarry LP’s holdings in Fastenal were worth $72,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Czech National Bank raised its position in Fastenal by 8.4% in the second quarter. Czech National Bank now owns 109,095 shares of the company’s stock worth $6,856,000 after acquiring an additional 8,410 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Fastenal by 9.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,972 shares of the company’s stock worth $564,000 after purchasing an additional 755 shares during the period. Apeiron RIA LLC raised its holdings in Fastenal by 14.3% in the 2nd quarter. Apeiron RIA LLC now owns 4,302 shares of the company’s stock worth $270,000 after purchasing an additional 537 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Fastenal by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 210,998 shares of the company’s stock valued at $13,259,000 after purchasing an additional 11,436 shares in the last quarter. Finally, Great Valley Advisor Group Inc. grew its holdings in Fastenal by 8.4% during the second quarter. Great Valley Advisor Group Inc. now owns 63,752 shares of the company’s stock valued at $4,007,000 after purchasing an additional 4,949 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

FAST opened at $81.05 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. The stock has a market capitalization of $46.43 billion, a price-to-earnings ratio of 40.32, a PEG ratio of 4.81 and a beta of 1.00. The company has a fifty day moving average of $78.63 and a 200 day moving average of $70.88. Fastenal has a fifty-two week low of $61.33 and a fifty-two week high of $84.88.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. As a group, sell-side analysts forecast that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, October 25th were issued a dividend of $0.39 per share. The ex-dividend date was Friday, October 25th. This represents a $1.56 annualized dividend and a dividend yield of 1.92%. Fastenal’s dividend payout ratio (DPR) is 77.61%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price objective on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Morgan Stanley raised their target price on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Robert W. Baird upped their price target on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Jefferies Financial Group increased their price objective on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Stephens upped their target price on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $76.80.

Insider Transactions at Fastenal

In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John Lewis Soderberg sold 488 shares of Fastenal stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.32, for a total value of $37,244.16. The disclosure for this sale can be found here. Insiders have sold 208,289 shares of company stock valued at $16,123,438 in the last ninety days. Corporate insiders own 0.41% 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 that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.