Fulton Bank N.A. Buys 341 Shares of Fastenal (NASDAQ:FAST)

Fulton Bank N.A. boosted its stake in Fastenal (NASDAQ:FAST) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,273 shares of the company’s stock after acquiring an additional 341 shares during the period. Fulton Bank N.A.’s holdings in Fastenal were worth $2,162,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. RK Asset Management LLC grew its position in shares of Fastenal by 1.1% during the 3rd quarter. RK Asset Management LLC now owns 71,043 shares of the company’s stock worth $5,074,000 after buying an additional 800 shares during the period. GAMMA Investing LLC boosted its stake in Fastenal by 24.1% during the third quarter. GAMMA Investing LLC now owns 15,041 shares of the company’s stock worth $1,074,000 after acquiring an additional 2,922 shares in the last quarter. Czech National Bank grew its holdings in Fastenal by 6.9% in the third quarter. Czech National Bank now owns 116,654 shares of the company’s stock worth $8,331,000 after purchasing an additional 7,559 shares during the period. Handelsbanken Fonder AB increased its stake in Fastenal by 1.0% in the third quarter. Handelsbanken Fonder AB now owns 310,963 shares of the company’s stock valued at $22,209,000 after purchasing an additional 2,961 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in Fastenal by 15.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 2,276 shares of the company’s stock valued at $163,000 after purchasing an additional 308 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In related news, CEO Daniel L. Florness sold 50,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,929,734.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 directly owns 286,018 shares in the company, valued at $19,489,266.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value 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 $19,929,734.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FAST. Stephens reissued an “equal weight” rating and issued a $56.00 price objective on shares of Fastenal in a research note on Monday, July 15th. Morgan Stanley initiated coverage on shares of Fastenal in a research note on Friday, September 6th. They set an “equal weight” rating and a $72.00 price target for the company. Bank of America initiated coverage on shares of Fastenal in a research note on Monday. They issued a “buy” rating and a $85.00 price objective on the stock. Stifel Nicolaus reissued a “buy” rating and set a $80.00 target price (down from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Finally, Jefferies Financial Group dropped their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $69.63.

Fastenal Stock Down 0.3 %

Shares of NASDAQ FAST opened at $70.00 on Tuesday. The business’s fifty day moving average price is $68.57 and its 200-day moving average price is $68.10. Fastenal has a one year low of $55.42 and a one year high of $79.04. The stock has a market capitalization of $40.08 billion, a PE ratio of 34.83, a P/E/G ratio of 3.92 and a beta of 1.01. 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 (NASDAQ:FAST) last posted its earnings results on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, hitting the consensus estimate 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 company’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. On average, equities research analysts anticipate that Fastenal will post 2.04 EPS for the current year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders 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 dividend yield of 2.23%. Fastenal’s dividend payout ratio is currently 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.