Fastenal (NASDAQ:FAST) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its holdings in shares of Fastenal (NASDAQ:FAST) by 75.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,861 shares of the company’s stock after selling 8,675 shares during the period. Federated Hermes Inc.’s holdings in Fastenal were worth $180,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FAST. Gilbert & Cook Inc. lifted its position in Fastenal by 4.9% during the fourth quarter. Gilbert & Cook Inc. now owns 6,684 shares of the company’s stock valued at $433,000 after buying an additional 312 shares in the last quarter. Assetmark Inc. raised its stake in shares of Fastenal by 35.9% during the fourth quarter. Assetmark Inc. now owns 2,651 shares of the company’s stock valued at $172,000 after purchasing an additional 700 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Fastenal by 2.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 78,825 shares of the company’s stock valued at $5,105,000 after purchasing an additional 1,677 shares during the period. Parallel Advisors LLC raised its stake in shares of Fastenal by 31.2% during the fourth quarter. Parallel Advisors LLC now owns 10,485 shares of the company’s stock valued at $679,000 after purchasing an additional 2,495 shares during the period. Finally, 3Chopt Investment Partners LLC purchased a new stake in shares of Fastenal during the fourth quarter valued at approximately $274,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FAST. Stifel Nicolaus reiterated a “buy” rating and set a $80.00 price objective (down previously from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Stephens restated an “equal weight” rating and issued a $56.00 price target on shares of Fastenal in a research note on Monday, July 15th. Jefferies Financial Group dropped their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Finally, Morgan Stanley started coverage on shares of Fastenal in a research note on Friday, September 6th. They issued an “equal weight” rating and a $72.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.43.

Insider Activity

In other news, CEO Daniel L. Florness sold 45,744 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The sale 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 business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,929,734.24. The sale 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 business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the transaction, the chief executive officer now directly 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. Corporate insiders own 0.41% of the company’s stock.

Fastenal Stock Performance

Fastenal stock opened at $71.81 on Wednesday. The company has a market cap of $41.11 billion, a PE ratio of 35.73, a P/E/G ratio of 3.78 and a beta of 1.01. The company has a fifty day moving average price of $68.18 and a two-hundred day moving average price of $68.35. 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 12 month low of $53.94 and a 12 month high of $79.04.

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

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Friday, July 26th. Fastenal’s dividend payout ratio (DPR) is 77.61%.

Fastenal Company 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.