Teachers Retirement System of The State of Kentucky Sells 2,246 Shares of Fastenal (NASDAQ:FAST)

Teachers Retirement System of The State of Kentucky lessened its stake in Fastenal (NASDAQ:FAST) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,194 shares of the company’s stock after selling 2,246 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Fastenal were worth $3,186,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Morgan Stanley lifted its stake in shares of Fastenal by 4.1% in the third quarter. Morgan Stanley now owns 8,582,669 shares of the company’s stock valued at $468,957,000 after buying an additional 337,168 shares during the period. Baird Financial Group Inc. lifted its stake in Fastenal by 15.2% during the fourth quarter. Baird Financial Group Inc. now owns 7,928,209 shares of the company’s stock worth $513,510,000 after purchasing an additional 1,043,529 shares during the period. Northern Trust Corp lifted its stake in Fastenal by 5.9% during the third quarter. Northern Trust Corp now owns 7,444,498 shares of the company’s stock worth $406,767,000 after purchasing an additional 413,572 shares during the period. Royal Bank of Canada lifted its stake in Fastenal by 9.3% during the third quarter. Royal Bank of Canada now owns 6,651,629 shares of the company’s stock worth $363,445,000 after purchasing an additional 568,372 shares during the period. Finally, Norges Bank bought a new position in Fastenal during the fourth quarter worth about $405,513,000. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Performance

NASDAQ:FAST opened at $64.95 on Wednesday. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average of $66.69 and a 200-day moving average of $68.55. Fastenal has a 1 year low of $53.83 and a 1 year high of $79.04. The stock has a market capitalization of $37.19 billion, a P/E ratio of 32.15, a price-to-earnings-growth ratio of 3.35 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the firm earned $0.52 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Fastenal will post 2.09 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Wednesday, April 24th. Fastenal’s dividend payout ratio is presently 77.23%.

Analyst Ratings Changes

A number of research analysts have commented on FAST shares. HSBC raised their price target on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Loop Capital cut their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Stifel Nicolaus lifted their target price on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Robert W. Baird cut their target price on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $68.80.

Insider Activity

In related news, Director Daniel L. Johnson acquired 3,350 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were acquired at an average cost of $68.38 per share, with a total value of $229,073.00. Following the transaction, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fastenal news, Director Hsenghung Sam Hsu purchased 500 shares of the business’s stock in a transaction on Monday, June 10th. The shares were purchased at an average cost of $63.28 per share, with a total value of $31,640.00. Following the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $221,480. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel L. Johnson bought 3,350 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was purchased at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the acquisition, the director now owns 10,595 shares in the company, valued at approximately $724,486.10. The disclosure for this purchase can be found here. 0.41% of the stock is owned by company insiders.

Fastenal 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.