SG Americas Securities LLC Sells 213,340 Shares of Fastenal (NASDAQ:FAST)

SG Americas Securities LLC lessened its stake in shares of Fastenal (NASDAQ:FAST) by 97.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,543 shares of the company’s stock after selling 213,340 shares during the quarter. SG Americas Securities LLC’s holdings in Fastenal were worth $327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FAST. Czech National Bank lifted its holdings in shares of Fastenal by 6.9% during the third quarter. Czech National Bank now owns 116,654 shares of the company’s stock valued at $8,331,000 after acquiring an additional 7,559 shares during the period. GAMMA Investing LLC lifted its holdings in Fastenal by 24.1% during the 3rd quarter. GAMMA Investing LLC now owns 15,041 shares of the company’s stock valued at $1,074,000 after purchasing an additional 2,922 shares during the last quarter. Fulton Bank N.A. boosted its position in Fastenal by 1.1% in the third quarter. Fulton Bank N.A. now owns 30,273 shares of the company’s stock valued at $2,162,000 after buying an additional 341 shares in the last quarter. Bridge Creek Capital Management LLC grew its stake in Fastenal by 0.5% during the third quarter. Bridge Creek Capital Management LLC now owns 80,223 shares of the company’s stock worth $5,730,000 after buying an additional 410 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its holdings in shares of Fastenal by 61.5% during the third quarter. Atomi Financial Group Inc. now owns 5,180 shares of the company’s stock worth $370,000 after buying an additional 1,972 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Down 0.7 %

Shares of NASDAQ FAST opened at $73.19 on Wednesday. Fastenal has a 1 year low of $61.36 and a 1 year high of $84.88. The firm’s 50-day moving average is $76.23 and its 200-day moving average is $73.82. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $41.93 billion, a PE ratio of 36.41, a price-to-earnings-growth ratio of 3.48 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last issued its 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). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. The business’s revenue was up 3.7% on a year-over-year basis. Equities analysts expect that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.35%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s dividend payout ratio (DPR) is 85.57%.

Analysts Set New Price Targets

Several research analysts have recently commented on FAST shares. Morgan Stanley boosted their target price on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. UBS Group initiated coverage on Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price on the stock. Stephens lifted their price target on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Wolfe Research increased their price objective on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Finally, Robert W. Baird raised their price objective on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastenal currently has an average rating of “Hold” and an average price target of $76.91.

Insider Transactions at Fastenal

In related news, CEO Daniel L. Florness sold 31,818 shares of Fastenal stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $24,168,521. This trade represents a 10.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Charles S. Miller sold 23,480 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total transaction of $1,970,441.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,772 shares of company stock worth $5,365,455. 0.41% of the stock is currently owned by company insiders.

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.