Fastenal (NASDAQ:FAST) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. decreased its position in shares of Fastenal (NASDAQ:FASTFree Report) by 8.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,054 shares of the company’s stock after selling 1,100 shares during the period. Avantax Advisory Services Inc.’s holdings in Fastenal were worth $659,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Fastenal by 0.3% during the first quarter. BlackRock Inc. now owns 45,154,559 shares of the company’s stock valued at $2,435,637,000 after buying an additional 138,257 shares in the last quarter. Geode Capital Management LLC raised its holdings in Fastenal by 3.3% during the second quarter. Geode Capital Management LLC now owns 14,122,516 shares of the company’s stock valued at $831,215,000 after buying an additional 446,106 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Fastenal by 18.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 13,407,839 shares of the company’s stock valued at $786,655,000 after buying an additional 2,075,023 shares in the last quarter. Morgan Stanley increased its stake in shares of Fastenal by 37.8% in the fourth quarter. Morgan Stanley now owns 9,092,207 shares of the company’s stock worth $430,243,000 after purchasing an additional 2,492,722 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Fastenal by 0.6% in the first quarter. Northern Trust Corp now owns 7,502,384 shares of the company’s stock worth $445,642,000 after purchasing an additional 41,898 shares during the period. Institutional investors and hedge funds own 78.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Stifel Nicolaus lifted their price objective on Fastenal from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Robert W. Baird lifted their price objective on Fastenal from $62.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Fastenal presently has a consensus rating of “Hold” and an average price target of $62.17.

Check Out Our Latest Report on Fastenal

Fastenal Trading Up 1.1 %

Shares of FAST opened at $70.02 on Friday. Fastenal has a 12-month low of $50.30 and a 12-month high of $70.95. The company has a quick ratio of 2.27, a current ratio of 4.57 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $40.07 billion, a price-to-earnings ratio of 34.66, a P/E/G ratio of 3.59 and a beta of 1.05. The stock’s 50-day moving average price is $65.52 and its 200 day moving average price is $60.33.

Fastenal (NASDAQ:FASTGet Free Report) last issued its quarterly earnings results on Thursday, January 18th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. Fastenal had a return on equity of 34.31% and a net margin of 15.72%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts predict that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Investors of record on Thursday, February 1st will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.23%. This is a positive change from Fastenal’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, January 31st. Fastenal’s payout ratio is currently 77.23%.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Reyne K. Wisecup sold 34,042 shares of Fastenal stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $68.48, for a total transaction of $2,331,196.16. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $1,369,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fastenal news, Director Reyne K. Wisecup sold 34,042 shares of Fastenal stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $68.48, for a total transaction of $2,331,196.16. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $1,369,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Lewis Soderberg sold 400 shares of Fastenal stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $63.17, for a total value of $25,268.00. Following the sale, the vice president now directly owns 488 shares in the company, valued at $30,826.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 143,120 shares of company stock valued at $9,322,231. 0.45% of the stock is currently owned by corporate insiders.

About Fastenal

(Free Report)

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, 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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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