Park Place Capital Corp Sells 291 Shares of Fastenal (NASDAQ:FAST)

Park Place Capital Corp cut its position in Fastenal (NASDAQ:FAST) by 30.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 670 shares of the company’s stock after selling 291 shares during the period. Park Place Capital Corp’s holdings in Fastenal were worth $52,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FAST. Norges Bank acquired a new stake in Fastenal in the 4th quarter valued at $405,513,000. Confluence Investment Management LLC bought a new position in shares of Fastenal in the 1st quarter valued at about $195,459,000. TD Asset Management Inc grew its position in shares of Fastenal by 112.9% in the 4th quarter. TD Asset Management Inc now owns 2,679,735 shares of the company’s stock valued at $173,566,000 after acquiring an additional 1,420,763 shares during the period. Baird Financial Group Inc. grew its position in shares of Fastenal by 15.2% in the 4th quarter. Baird Financial Group Inc. now owns 7,928,209 shares of the company’s stock valued at $513,510,000 after acquiring an additional 1,043,529 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Fastenal by 46.2% during the 1st quarter. Los Angeles Capital Management LLC now owns 3,185,855 shares of the company’s stock worth $245,757,000 after buying an additional 1,006,402 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP James C. Jansen sold 11,428 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total transaction of $732,191.96. Following the completion of the transaction, the executive vice president now directly owns 26,176 shares in the company, valued at approximately $1,677,096.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Fastenal news, Director Hsenghung Sam Hsu bought 500 shares of Fastenal 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 acquisition, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $221,480. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James C. Jansen sold 11,428 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was 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 disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $62.09 on Tuesday. The firm has a 50 day moving average of $65.84 and a 200-day moving average of $68.65. The stock has a market capitalization of $35.55 billion, a PE ratio of 30.74, a PEG ratio of 3.36 and a beta of 1.01. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. Fastenal has a 12 month low of $53.83 and a 12 month high of $79.04.

Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. Fastenal’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, equities research analysts predict that Fastenal will post 2.08 EPS for the current fiscal year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, April 25th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Wednesday, April 24th. Fastenal’s dividend payout ratio is 77.23%.

Analyst Ratings Changes

Several analysts recently commented on FAST shares. Stifel Nicolaus lifted their target price on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Robert W. Baird dropped their price objective 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. HSBC lifted their price objective 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. Finally, Loop Capital dropped their price objective 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. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Fastenal currently has an average rating of “Hold” and a consensus price target of $68.80.

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.