Fastenal (NASDAQ:FAST) Shares Sold by Whittier Trust Co.

Whittier Trust Co. trimmed its stake in shares of Fastenal (NASDAQ:FAST) by 9.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,337 shares of the company’s stock after selling 347 shares during the period. Whittier Trust Co.’s holdings in Fastenal were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Central Valley Advisors LLC acquired a new stake in Fastenal in the second quarter valued at approximately $28,000. MCF Advisors LLC grew its holdings in Fastenal by 2,172.2% in the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after purchasing an additional 391 shares during the period. Triad Wealth Partners LLC acquired a new stake in Fastenal in the second quarter valued at approximately $32,000. Crewe Advisors LLC grew its holdings in Fastenal by 528.4% in the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after purchasing an additional 428 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC grew its holdings in Fastenal by 1,019.0% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after purchasing an additional 428 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fastenal

In other Fastenal news, insider William Joseph Drazkowski sold 16,362 shares of Fastenal stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.65, for a total value of $1,270,509.30. Following the sale, the insider now owns 5,997 shares in the company, valued at $465,667.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider William Joseph Drazkowski sold 16,362 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.65, for a total transaction of $1,270,509.30. Following the completion of the transaction, the insider now directly owns 5,997 shares of the company’s stock, valued at $465,667.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Anthony Paul Broersma sold 680 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total value of $52,944.80. The disclosure for this sale can be found here. Insiders have sold 179,373 shares of company stock worth $13,029,308 over the last quarter. 0.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. Stifel Nicolaus reissued a “buy” rating and issued a $86.00 price objective (up from $80.00) on shares of Fastenal in a report on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Morgan Stanley raised their target price on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Robert W. Baird raised their target price on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Stephens raised their target price on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Fastenal presently has an average rating of “Hold” and a consensus target price of $73.33.

Fastenal Stock Performance

Shares of Fastenal stock opened at $75.62 on Friday. Fastenal has a one year low of $56.41 and a one year high of $79.04. The company has a market cap of $43.30 billion, a price-to-earnings ratio of 37.62, a PEG ratio of 4.13 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 business’s 50 day moving average price is $70.56 and its 200 day moving average price is $67.99.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter last year, the business posted $0.52 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, research analysts predict that Fastenal will post 2.04 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be given a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 2.06%. Fastenal’s dividend payout ratio is currently 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.