California State Teachers Retirement System Decreases Holdings in Fastenal (NASDAQ:FAST)

California State Teachers Retirement System decreased its position in shares of Fastenal (NASDAQ:FAST – Get Rating) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 958,109 shares of the company’s stock after selling 9,651 shares during the period. California State Teachers Retirement System owned 0.17% of Fastenal worth $44,111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Old North State Trust LLC acquired a new position in Fastenal during the 3rd quarter valued at approximately $31,000. Guardian Wealth Advisors LLC acquired a new position in Fastenal during the 3rd quarter valued at approximately $42,000. Ellevest Inc. increased its stake in Fastenal by 55.4% during the 3rd quarter. Ellevest Inc. now owns 1,270 shares of the company’s stock valued at $58,000 after purchasing an additional 453 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in shares of Fastenal by 40.0% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,399 shares of the company’s stock worth $64,000 after acquiring an additional 400 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Fastenal by 66.4% in the third quarter. Allworth Financial LP now owns 1,444 shares of the company’s stock worth $66,000 after acquiring an additional 576 shares during the period. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Fastenal Stock Down 0.5 %

FAST stock opened at $52.14 on Friday. The firm has a market cap of $29.77 billion, a PE ratio of 27.44, a P/E/G ratio of 3.00 and a beta of 1.19. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.79 and a current ratio of 3.96. The firm’s fifty day moving average is $51.30 and its 200 day moving average is $49.67. Fastenal has a one year low of $43.73 and a one year high of $60.74.

Fastenal (NASDAQ:FAST – Get Rating) last released its quarterly earnings results on Thursday, January 19th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. Fastenal had a net margin of 15.57% and a return on equity of 34.38%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned $0.40 earnings per share. On average, research analysts forecast that Fastenal will post 1.94 EPS for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 2nd. Shareholders of record on Thursday, February 2nd were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.69%. This is an increase from Fastenal’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, February 1st. Fastenal’s dividend payout ratio (DPR) is presently 73.68%.

Analysts Set New Price Targets

FAST has been the topic of a number of research reports. Loop Capital cut their price objective on shares of Fastenal from $54.00 to $53.00 and set a “hold” rating on the stock in a research note on Monday, January 23rd. Morgan Stanley cut their price objective on shares of Fastenal from $43.00 to $42.00 and set an “underweight” rating on the stock in a research note on Friday, January 6th. Finally, StockNews.com began coverage on shares of Fastenal in a research report on Thursday. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.14.

Insider Buying and Selling at Fastenal

In other Fastenal news, VP Terry Modock Owen sold 15,000 shares of the stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $53.24, for a total transaction of $798,600.00. Following the transaction, the vice president now directly owns 7,000 shares of the company’s stock, valued at $372,680. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.45% of the company’s stock.

About Fastenal

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Fastenal Co engages in the distribution of fasteners and tools. It also operates hardware stores. The company was founded by Robert A. Kierlin, Michael M. Gostomski, Henry K. McCannon, John D. Remick, and Stephen M. Slaggie in November 1967 and is headquartered in Winona, MN.