Mutual of America Capital Management LLC Sells 2,817 Shares of Fastenal (NASDAQ:FAST)

Mutual of America Capital Management LLC cut its holdings in Fastenal (NASDAQ:FAST) by 3.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,233 shares of the company’s stock after selling 2,817 shares during the period. Mutual of America Capital Management LLC’s holdings in Fastenal were worth $4,539,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Baird Financial Group Inc. increased its holdings 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 holdings in Fastenal by 2.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 4,800,534 shares of the company’s stock valued at $310,931,000 after acquiring an additional 109,028 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Fastenal by 19.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock valued at $241,161,000 after acquiring an additional 636,546 shares during the period. TD Asset Management Inc grew its holdings in shares of Fastenal by 21.2% during the 1st 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 in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Fastenal by 46.2% in 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. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Down 0.9 %

Shares of NASDAQ:FAST opened at $70.75 on Friday. Fastenal has a 52-week low of $53.83 and a 52-week high of $79.04. The company has a market capitalization of $40.51 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 3.78 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39. The company has a fifty day moving average of $68.05 and a 200-day moving average of $68.45.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, July 12th. The company reported $0.51 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company earned $0.52 earnings per share. The business’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities analysts predict that Fastenal will post 2.04 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were given a dividend of $0.39 per share. The ex-dividend date was Friday, July 26th. This represents a $1.56 annualized dividend and a yield of 2.20%. Fastenal’s dividend payout ratio is presently 77.61%.

Insiders Place Their Bets

In other news, CEO Daniel L. Florness sold 50,000 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Daniel L. Florness sold 45,744 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,489,266.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 in the company, valued at approximately $19,929,734.24. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

FAST has been the subject of several recent analyst reports. Morgan Stanley began coverage on shares of Fastenal in a research report on Friday, September 6th. They set an “equal weight” rating and a $72.00 price objective for the company. Stephens reiterated an “equal weight” rating and set a $56.00 price target on shares of Fastenal in a research report on Monday, July 15th. Jefferies Financial Group decreased their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Finally, Stifel Nicolaus restated a “buy” rating and set a $80.00 target price (down from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.43.

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.