Fastenal Company $FAST Shares Sold by Aberdeen Group plc

Aberdeen Group plc decreased its stake in shares of Fastenal Company (NASDAQ:FAST) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,839,595 shares of the company’s stock after selling 61,199 shares during the quarter. Aberdeen Group plc owned about 0.16% of Fastenal worth $73,823,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its stake in shares of Fastenal by 2.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares during the last quarter. Sowell Financial Services LLC lifted its stake in shares of Fastenal by 4.7% during the third quarter. Sowell Financial Services LLC now owns 5,308 shares of the company’s stock valued at $260,000 after buying an additional 238 shares during the period. L2 Asset Management LLC boosted its position in Fastenal by 4.8% during the third quarter. L2 Asset Management LLC now owns 5,389 shares of the company’s stock worth $264,000 after acquiring an additional 248 shares during the last quarter. Rowlandmiller & PARTNERS.ADV grew its stake in Fastenal by 1.7% in the 3rd quarter. Rowlandmiller & PARTNERS.ADV now owns 14,704 shares of the company’s stock worth $721,000 after acquiring an additional 250 shares during the period. Finally, SOA Wealth Advisors LLC. grew its stake in Fastenal by 71.6% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after acquiring an additional 255 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Performance

FAST opened at $46.30 on Friday. The firm’s 50 day moving average is $45.71 and its 200-day moving average is $43.81. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $53.17 billion, a P/E ratio of 42.09, a P/E/G ratio of 2.94 and a beta of 0.84.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share (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 firm had revenue of $2.03 billion for 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. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Analysts expect that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, January 29th. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Fastenal’s dividend payout ratio is 87.27%.

Insider Transactions at Fastenal

In related news, Director Scott Satterlee sold 15,964 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total transaction of $705,449.16. Following the sale, the director directly owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. This represents a 24.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the completion of the transaction, the director directly owned 40,000 shares of the company’s stock, valued at approximately $1,893,600. This represents a 48.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on FAST. Raymond James Financial set a $48.00 price objective on Fastenal in a report on Thursday, March 5th. Morgan Stanley restated a “positive” rating and issued a $45.00 price target on shares of Fastenal in a report on Thursday, March 5th. Jefferies Financial Group set a $52.00 price objective on shares of Fastenal and gave the company a “buy” rating in a research note on Monday, December 15th. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Finally, Robert W. Baird lifted their price target on shares of Fastenal from $51.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Fastenal has an average rating of “Hold” and an average target price of $49.08.

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.