Mutual of America Capital Management LLC Has $4.97 Million Stock Position in Fastenal (NASDAQ:FAST)

Mutual of America Capital Management LLC reduced its holdings in Fastenal (NASDAQ:FAST) by 4.3% in the 4th quarter, HoldingsChannel reports. The fund owned 76,666 shares of the company’s stock after selling 3,484 shares during the period. Mutual of America Capital Management LLC’s holdings in Fastenal were worth $4,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Empirical Asset Management LLC increased its position in Fastenal by 2.4% in the 4th quarter. Empirical Asset Management LLC now owns 7,212 shares of the company’s stock valued at $467,000 after acquiring an additional 171 shares during the period. Berkshire Bank increased its position in Fastenal by 3.1% in the 3rd quarter. Berkshire Bank now owns 5,777 shares of the company’s stock valued at $316,000 after acquiring an additional 174 shares during the period. OmniStar Financial Group Inc. increased its position in Fastenal by 1.1% in the 3rd quarter. OmniStar Financial Group Inc. now owns 15,960 shares of the company’s stock valued at $873,000 after acquiring an additional 174 shares during the period. SkyView Investment Advisors LLC increased its position in Fastenal by 7.4% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,788 shares of the company’s stock valued at $153,000 after acquiring an additional 191 shares during the period. Finally, 1832 Asset Management L.P. increased its position in Fastenal by 0.4% in the 4th quarter. 1832 Asset Management L.P. now owns 48,972 shares of the company’s stock valued at $2,317,000 after acquiring an additional 195 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Reyne K. Wisecup sold 34,042 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $68.48, for a total transaction of $2,331,196.16. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $1,369,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Fastenal news, VP Charles S. Miller sold 23,590 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $69.25, for a total value of $1,633,607.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Reyne K. Wisecup sold 34,042 shares of the firm’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $68.48, for a total transaction of $2,331,196.16. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,369,600. The disclosure for this sale can be found here. Insiders have sold a total of 105,682 shares of company stock valued at $7,375,853 over the last ninety days. 0.41% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FAST shares. Stifel Nicolaus increased their price objective on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Robert W. Baird decreased their price objective on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal has an average rating of “Hold” and a consensus target price of $67.00.

Fastenal Trading Up 0.8 %

FAST opened at $70.45 on Monday. The stock has a market cap of $40.31 billion, a PE ratio of 34.88, a price-to-earnings-growth ratio of 3.64 and a beta of 1.05. Fastenal has a twelve month low of $50.30 and a twelve month high of $79.04. The company has a fifty day moving average of $73.74 and a 200-day moving average of $65.98. The company has a quick ratio of 2.27, a current ratio of 4.83 and a debt-to-equity ratio of 0.06.

Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. On average, sell-side analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s dividend payout ratio is presently 77.23%.

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.