Stephens Inc. AR Cuts Stock Holdings in Fastenal (NASDAQ:FAST)

Stephens Inc. AR decreased its holdings in shares of Fastenal (NASDAQ:FASTFree Report) by 3.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 40,576 shares of the company’s stock after selling 1,427 shares during the period. Stephens Inc. AR’s holdings in Fastenal were worth $2,628,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Essex Financial Services Inc. boosted its stake in Fastenal by 1.8% during the 4th quarter. Essex Financial Services Inc. now owns 8,539 shares of the company’s stock worth $553,000 after purchasing an additional 148 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Fastenal by 0.8% during the 4th quarter. Panagora Asset Management Inc. now owns 19,095 shares of the company’s stock worth $1,237,000 after purchasing an additional 152 shares during the last quarter. Hartford Financial Management Inc. boosted its stake in Fastenal by 46.9% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after purchasing an additional 153 shares during the last quarter. Accredited Investors Inc. boosted its stake in Fastenal by 0.9% during the 4th quarter. Accredited Investors Inc. now owns 18,129 shares of the company’s stock worth $1,174,000 after purchasing an additional 164 shares during the last quarter. Finally, Empirical Asset Management LLC boosted its stake in Fastenal by 2.4% during the 4th quarter. Empirical Asset Management LLC now owns 7,212 shares of the company’s stock worth $467,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Trading Down 0.2 %

NASDAQ FAST opened at $63.89 on Friday. The firm’s 50-day moving average is $68.38 and its two-hundred day moving average is $68.27. Fastenal has a 12 month low of $53.65 and a 12 month high of $79.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The stock has a market capitalization of $36.58 billion, a P/E ratio of 31.63, a PEG ratio of 3.40 and a beta of 1.02.

Fastenal (NASDAQ:FASTGet Free Report) last posted its earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the company earned $0.52 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Fastenal will post 2.09 earnings per share for the current year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th were paid a dividend of $0.39 per share. The ex-dividend date was Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a yield of 2.44%. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Insiders Place Their Bets

In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Fastenal news, EVP James C. Jansen sold 11,428 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total transaction of $732,191.96. Following the sale, the executive vice president now directly owns 26,176 shares in the company, valued at $1,677,096.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on FAST shares. Robert W. Baird lowered their price target on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Loop Capital lowered their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Stifel Nicolaus boosted their price target on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, HSBC boosted their price target on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, April 15th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Fastenal presently has a consensus rating of “Hold” and a consensus price target of $67.33.

Get Our Latest Analysis on Fastenal

About Fastenal

(Free Report)

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.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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