Fastenal (NASDAQ:FAST) Stock Holdings Reduced by Brookstone Capital Management

Brookstone Capital Management lowered its position in Fastenal (NASDAQ:FAST) by 29.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,539 shares of the company’s stock after selling 1,447 shares during the quarter. Brookstone Capital Management’s holdings in Fastenal were worth $254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aaron Wealth Advisors LLC purchased a new position in Fastenal in the third quarter valued at about $310,000. Comgest Global Investors S.A.S. grew its stake in Fastenal by 73.0% in the third quarter. Comgest Global Investors S.A.S. now owns 87,081 shares of the company’s stock valued at $6,219,000 after purchasing an additional 36,742 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Fastenal by 1.8% in the third quarter. PNC Financial Services Group Inc. now owns 369,267 shares of the company’s stock valued at $26,373,000 after purchasing an additional 6,488 shares in the last quarter. Matrix Trust Co purchased a new position in Fastenal in the fourth quarter valued at about $1,756,000. Finally, Franklin Resources Inc. boosted its stake in shares of Fastenal by 3.8% during the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock worth $350,703,000 after acquiring an additional 165,423 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FAST. Stephens upped their price target on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Robert W. Baird upped their price target on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. UBS Group began coverage on Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target for the company. Finally, Morgan Stanley upped their price target on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Fastenal presently has an average rating of “Hold” and a consensus target price of $77.27.

Insider Buying and Selling at Fastenal

In other news, Director Rita J. Heise sold 10,888 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total value of $845,670.96. Following the sale, the director now directly owns 20,000 shares in the company, valued at approximately $1,553,400. This represents a 35.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel L. Johnson sold 8,474 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total value of $706,392.64. Following the completion of the sale, the director now owns 10,595 shares in the company, valued at approximately $883,199.20. This represents a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,660 shares of company stock valued at $6,211,126 in the last quarter. Corporate insiders own 0.41% of the company’s stock.

Fastenal Price Performance

NASDAQ FAST opened at $76.08 on Friday. The stock has a 50-day simple moving average of $77.92 and a 200 day simple moving average of $73.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. The stock has a market capitalization of $43.59 billion, a PE ratio of 37.85, a P/E/G ratio of 3.94 and a beta of 1.02. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1,842,560.16 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the company earned $0.46 EPS. Research analysts anticipate that Fastenal will post 2.03 EPS for the current year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be issued a $0.43 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.26%. Fastenal’s dividend payout ratio is 77.61%.

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.