Fastenal Company $FAST Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. decreased its position in shares of Fastenal Company (NASDAQ:FAST) by 12.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,066 shares of the company’s stock after selling 22,349 shares during the quarter. Hantz Financial Services Inc.’s holdings in Fastenal were worth $7,408,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Fastenal by 103.5% in the second quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock worth $6,265,119,000 after purchasing an additional 75,852,223 shares during the period. State Street Corp grew its position in Fastenal by 99.6% in the 2nd quarter. State Street Corp now owns 54,317,385 shares of the company’s stock valued at $2,281,330,000 after buying an additional 27,107,520 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Fastenal by 103.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock worth $1,931,830,000 after buying an additional 23,380,022 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Fastenal by 103.8% in the 2nd quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock worth $1,506,141,000 after purchasing an additional 18,329,847 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Fastenal by 87.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock valued at $1,463,743,000 after purchasing an additional 16,308,254 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FAST has been the subject of a number of research analyst reports. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Jefferies Financial Group set a $52.00 price target on Fastenal and gave the stock a “buy” rating in a report on Monday, December 15th. Barclays set a $43.00 target price on Fastenal and gave the stock an “equal weight” rating in a research report on Wednesday, January 21st. UBS Group reaffirmed a “neutral” rating and issued a $46.00 price target on shares of Fastenal in a research note on Wednesday, January 21st. Finally, Robert W. Baird cut their price objective on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research report on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.00.

Insider Activity at Fastenal

In other news, Director Scott Satterlee sold 15,964 shares of the firm’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $44.19, for a total value of $705,449.16. Following the completion of the sale, the director directly owned 50,000 shares in the company, valued at $2,209,500. This trade represents a 24.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Hsenghung Sam Hsu acquired 1,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were bought at an average cost of $49.58 per share, with a total value of $49,580.00. Following the completion of the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $495,800. This represents a 11.11% increase in their position. The SEC filing for this purchase provides additional information. 0.37% of the stock is owned by company insiders.

Fastenal Price Performance

NASDAQ:FAST opened at $48.28 on Thursday. Fastenal Company has a 1-year low of $35.31 and a 1-year high of $50.63. The stock has a market capitalization of $55.43 billion, a PE ratio of 43.89, a P/E/G ratio of 2.95 and a beta of 0.89. The firm has a fifty day simple moving average of $42.25 and a 200 day simple moving average of $44.45. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last announced its earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. Fastenal’s revenue was up 11.1% compared to the same quarter last year. On average, research analysts expect that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, January 29th. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio is currently 87.27%.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.