Oak Thistle LLC Has $408,000 Holdings in Fastenal Company (NASDAQ:FAST)

Oak Thistle LLC lessened its position in Fastenal Company (NASDAQ:FAST) by 84.5% in the 1st quarter, Holdings Channel reports. The fund owned 5,262 shares of the company’s stock after selling 28,673 shares during the period. Oak Thistle LLC’s holdings in Fastenal were worth $408,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Fastenal in the fourth quarter valued at $522,558,000. GAMMA Investing LLC raised its position in Fastenal by 8,541.0% during the first quarter. GAMMA Investing LLC now owns 1,694,235 shares of the company’s stock valued at $131,388,000 after buying an additional 1,674,628 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Fastenal by 100.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,081,620 shares of the company’s stock worth $221,600,000 after acquiring an additional 1,547,319 shares in the last quarter. Wellington Management Group LLP lifted its stake in Fastenal by 301.9% in the 4th quarter. Wellington Management Group LLP now owns 1,478,233 shares of the company’s stock worth $106,300,000 after acquiring an additional 1,110,445 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Fastenal by 15.2% during the 4th quarter. Northern Trust Corp now owns 7,322,739 shares of the company’s stock worth $526,578,000 after acquiring an additional 966,629 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Down 0.4%

FAST stock opened at $47.75 on Friday. The firm has a market cap of $54.80 billion, a PE ratio of 45.91, a PEG ratio of 4.38 and a beta of 0.96. Fastenal Company has a 1 year low of $32.04 and a 1 year high of $48.10. The company has a fifty day simple moving average of $42.75 and a 200 day simple moving average of $39.86. The company has a current ratio of 4.22, a quick ratio of 2.12 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last posted its earnings results on Monday, July 14th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.07 billion. Fastenal had a return on equity of 32.33% and a net margin of 15.30%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. Sell-side analysts anticipate that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, July 29th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, July 29th. This represents a $0.88 annualized dividend and a yield of 1.84%. Fastenal’s dividend payout ratio (DPR) is currently 84.62%.

Insider Buying and Selling

In other Fastenal news, Director Scott Satterlee sold 19,340 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $39.76, for a total transaction of $768,861.70. Following the transaction, the director owned 50,000 shares in the company, valued at $1,987,750. This trade represents a 27.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of the business’s stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $45.21, for a total transaction of $951,760.92. Following the completion of the sale, the chief financial officer owned 10,192 shares of the company’s stock, valued at $460,780.32. The trade was a 67.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,116 shares of company stock worth $3,069,670. 0.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on FAST shares. JPMorgan Chase & Co. lifted their target price on Fastenal from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Loop Capital reiterated a “hold” rating on shares of Fastenal in a research note on Tuesday, July 15th. Stephens increased their target price on shares of Fastenal from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Robert W. Baird boosted their price target on shares of Fastenal from $43.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Finally, Morgan Stanley set a $40.00 price target on shares of Fastenal and gave the stock an “equal weight” rating in a research note on Thursday, July 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $45.64.

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.