Sawgrass Asset Management LLC Sells 3,158 Shares of Fastenal (NASDAQ:FAST)

Sawgrass Asset Management LLC decreased its stake in Fastenal (NASDAQ:FAST) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,186 shares of the company’s stock after selling 3,158 shares during the period. Sawgrass Asset Management LLC’s holdings in Fastenal were worth $6,165,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp grew its stake in shares of Fastenal by 5.7% in the fourth quarter. Van ECK Associates Corp now owns 101,713 shares of the company’s stock worth $6,588,000 after acquiring an additional 5,509 shares during the last quarter. Raymond James & Associates boosted its stake in Fastenal by 3.7% during the fourth quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock worth $58,304,000 after buying an additional 31,814 shares in the last quarter. ICW Investment Advisors LLC boosted its stake in Fastenal by 2.0% during the fourth quarter. ICW Investment Advisors LLC now owns 36,090 shares of the company’s stock worth $2,338,000 after buying an additional 694 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Fastenal during the fourth quarter worth $13,204,000. Finally, Assenagon Asset Management S.A. boosted its stake in Fastenal by 178.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 78,030 shares of the company’s stock worth $5,054,000 after buying an additional 49,972 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insiders Place Their Bets

In other news, Director Daniel L. Johnson purchased 3,350 shares of Fastenal stock in a transaction on Wednesday, April 17th. The stock was purchased at an average price of $68.38 per share, with a total value of $229,073.00. Following the transaction, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Daniel L. Johnson acquired 3,350 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were bought at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the purchase, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Charles S. Miller sold 11,076 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Fastenal Stock Up 0.6 %

Shares of FAST traded up $0.37 on Wednesday, hitting $66.78. The company’s stock had a trading volume of 3,945,343 shares, compared to its average volume of 3,962,624. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average price is $72.87 and its 200-day moving average price is $67.29. Fastenal has a fifty-two week low of $52.86 and a fifty-two week high of $79.04. The firm has a market capitalization of $38.23 billion, a price-to-earnings ratio of 33.06, a P/E/G ratio of 3.58 and a beta of 1.07.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data 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). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Fastenal’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts expect that Fastenal will post 2.12 EPS for the current year.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is currently 77.23%.

Analyst Ratings Changes

A number of research firms have weighed in on FAST. Stifel Nicolaus lifted their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Robert W. Baird cut their price target on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday. HSBC lifted their price target on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday, April 15th. Finally, Loop Capital cut their price target on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a report on Monday, April 15th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Fastenal has an average rating of “Hold” and a consensus price target of $67.33.

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.