Sentry Investment Management LLC cut its stake in shares of Fastenal (NASDAQ:FAST) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,676 shares of the company’s stock after selling 1,480 shares during the quarter. Sentry Investment Management LLC’s holdings in Fastenal were worth $1,072,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc lifted its position in shares of Fastenal by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 32,459,382 shares of the company’s stock valued at $1,883,293,000 after acquiring an additional 311,099 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Fastenal by 3.3% in the fourth quarter. BlackRock Inc. now owns 19,919,843 shares of the company’s stock valued at $1,041,607,000 after purchasing an additional 633,546 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Fastenal by 7.7% in the fourth quarter. Bank of New York Mellon Corp now owns 15,859,900 shares of the company’s stock valued at $829,314,000 after purchasing an additional 1,134,666 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Fastenal by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 4,165,575 shares of the company’s stock valued at $217,478,000 after purchasing an additional 225,481 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Fastenal by 7.9% in the fourth quarter. Northern Trust Corp now owns 3,660,888 shares of the company’s stock valued at $191,427,000 after purchasing an additional 267,997 shares in the last quarter. 85.36% of the stock is owned by institutional investors.
FAST traded down $1.08 during trading on Friday, reaching $31.65. 3,439,063 shares of the company’s stock were exchanged, compared to its average volume of 4,705,811. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.97 and a current ratio of 4.31. Fastenal has a fifty-two week low of $23.68 and a fifty-two week high of $35.94. The firm has a market capitalization of $18.73 billion, a PE ratio of 23.98, a P/E/G ratio of 1.42 and a beta of 1.27.
Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, April 11th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Fastenal had a net margin of 15.16% and a return on equity of 33.52%. During the same quarter in the previous year, the business earned $0.31 EPS. Equities analysts forecast that Fastenal will post 1.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, April 24th were given a $0.43 dividend. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $1.72 annualized dividend and a yield of 5.43%. Fastenal’s dividend payout ratio is currently 65.15%.
FAST has been the topic of a number of research reports. BidaskClub downgraded shares of Fastenal from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 20th. Buckingham Research upped their price target on shares of Fastenal from $28.50 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Raymond James set a $39.00 target price on shares of Fastenal and gave the stock a “buy” rating in a research report on Friday, April 12th. Northcoast Research downgraded shares of Fastenal from a “buy” rating to a “neutral” rating in a research report on Monday, April 15th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their target price on shares of Fastenal from $27.50 to $31.50 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.70.
In related news, insider Nicholas J. Lundquist sold 37,500 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $70.48, for a total value of $2,643,000.00. Following the transaction, the insider now owns 253,500 shares in the company, valued at approximately $17,866,680. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Sheryl Ann Lisowski sold 9,166 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $64.22, for a total transaction of $588,640.52. Following the completion of the transaction, the chief accounting officer now owns 9,466 shares in the company, valued at approximately $607,906.52. The disclosure for this sale can be found here. Insiders sold a total of 163,470 shares of company stock worth $11,485,007 over the last ninety days. 0.56% of the stock is currently owned by insiders.
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Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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