Sepio Capital LP Has $2.48 Million Holdings in Fastenal (NASDAQ:FAST)

Sepio Capital LP lessened its holdings in Fastenal (NASDAQ:FAST) by 17.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,395 shares of the company’s stock after selling 8,263 shares during the quarter. Sepio Capital LP’s holdings in Fastenal were worth $2,476,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FAST. Penobscot Investment Management Company Inc. increased its holdings in shares of Fastenal by 1.1% during the first quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock worth $1,030,000 after purchasing an additional 150 shares during the period. Sara Bay Financial increased its stake in Fastenal by 1.3% during the 2nd quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock worth $746,000 after acquiring an additional 155 shares during the period. Trueblood Wealth Management LLC raised its holdings in Fastenal by 1.4% in the 2nd quarter. Trueblood Wealth Management LLC now owns 11,314 shares of the company’s stock valued at $711,000 after acquiring an additional 156 shares in the last quarter. Team Hewins LLC lifted its position in shares of Fastenal by 4.8% during the 1st quarter. Team Hewins LLC now owns 3,404 shares of the company’s stock valued at $263,000 after acquiring an additional 157 shares during the period. Finally, Bleakley Financial Group LLC grew its holdings in shares of Fastenal by 2.0% during the 1st quarter. Bleakley Financial Group LLC now owns 8,173 shares of the company’s stock worth $630,000 after purchasing an additional 159 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In related news, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,929,734.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,929,734.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the subject of several recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $80.00 price objective (down previously from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Jefferies Financial Group cut their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Morgan Stanley assumed coverage on shares of Fastenal in a research note on Friday, September 6th. They issued an “equal weight” rating and a $72.00 price objective on the stock. Finally, Stephens restated an “equal weight” rating and set a $56.00 target price on shares of Fastenal in a research note on Monday, July 15th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $67.43.

Fastenal Price Performance

FAST stock opened at $71.52 on Friday. The stock has a market cap of $40.95 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 3.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. The company has a 50 day simple moving average of $68.26 and a 200 day simple moving average of $68.39. Fastenal has a 1 year low of $53.94 and a 1 year high of $79.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, July 12th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the company earned $0.52 EPS. Fastenal’s revenue was up 1.8% compared to the same quarter last year. Research analysts anticipate that Fastenal will post 2.04 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, July 26th. Fastenal’s payout ratio is 77.61%.

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.