Fastenal (NASDAQ:FAST) Stock Position Lowered by Amalgamated Bank

Amalgamated Bank lessened its position in Fastenal (NASDAQ:FAST) by 1.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 121,939 shares of the company’s stock after selling 1,997 shares during the period. Amalgamated Bank’s holdings in Fastenal were worth $7,663,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FAST. Baird Financial Group Inc. raised its position in shares of 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. Envestnet Asset Management Inc. raised its position in shares of Fastenal by 2.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 4,800,534 shares of the company’s stock worth $310,931,000 after purchasing an additional 109,028 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Fastenal by 19.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock worth $241,161,000 after purchasing an additional 636,546 shares during the period. TD Asset Management Inc raised its position in shares of Fastenal by 21.2% during the first quarter. TD Asset Management Inc now owns 3,248,853 shares of the company’s stock worth $250,617,000 after purchasing an additional 569,118 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in shares of Fastenal by 46.2% during the first quarter. Los Angeles Capital Management LLC now owns 3,185,855 shares of the company’s stock worth $245,757,000 after purchasing an additional 1,006,402 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In other news, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,929,734.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Daniel L. Florness sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,929,734.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel L. Florness sold 45,744 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at approximately $19,489,266.52. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Fastenal Stock Performance

Shares of NASDAQ FAST opened at $71.38 on Friday. The business’s 50-day moving average price is $67.94 and its two-hundred day moving average price is $68.52. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. Fastenal has a one year low of $53.83 and a one year high of $79.04. The company has a market capitalization of $40.87 billion, a P/E ratio of 35.51, a price-to-earnings-growth ratio of 3.78 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, July 12th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. Analysts anticipate that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.56 annualized dividend and a dividend yield of 2.19%. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group cut their target price on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Stifel Nicolaus reissued a “buy” rating and set a $80.00 price target (down from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Morgan Stanley began coverage on Fastenal in a research report on Friday, September 6th. They set an “equal weight” rating and a $72.00 price target on the stock. Finally, Stephens reissued an “equal weight” rating and set a $56.00 price target on shares of Fastenal in a research report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Fastenal presently has a consensus rating of “Hold” and a consensus target price of $67.43.

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.