Fastenal (NASDAQ:FAST) Holdings Lowered by CENTRAL TRUST Co

CENTRAL TRUST Co cut its stake in Fastenal (NASDAQ:FAST) by 28.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,197 shares of the company’s stock after selling 2,830 shares during the period. CENTRAL TRUST Co’s holdings in Fastenal were worth $514,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FAST. Kingswood Wealth Advisors LLC acquired a new position in shares of Fastenal during the 1st quarter valued at $226,000. Brookstone Capital Management acquired a new position in Fastenal during the first quarter worth about $316,000. Wealthcare Advisory Partners LLC raised its position in Fastenal by 137.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 9,476 shares of the company’s stock worth $731,000 after acquiring an additional 5,482 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Fastenal by 17.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 199,562 shares of the company’s stock worth $15,394,000 after acquiring an additional 29,190 shares in the last quarter. Finally, MCF Advisors LLC lifted its holdings in Fastenal by 2,172.2% in the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after acquiring an additional 391 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Activity

In related news, EVP Anthony Paul Broersma sold 680 shares of Fastenal stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fastenal 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 completion of the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Anthony Paul Broersma sold 680 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total transaction of $52,944.80. The disclosure for this sale can be found here. Insiders have sold a total of 179,373 shares of company stock worth $13,029,308 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Fastenal Stock Up 0.8 %

NASDAQ:FAST opened at $75.85 on Friday. Fastenal has a 1-year low of $57.01 and a 1-year high of $79.04. The firm has a market capitalization of $43.45 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 4.48 and a beta of 1.01. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average price is $70.91 and its 200 day moving average price is $68.04.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. On average, sell-side analysts forecast that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Friday, October 25th. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

Analyst Ratings Changes

A number of research firms recently commented on FAST. Jefferies Financial Group dropped their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. increased their price objective on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Stifel Nicolaus reissued a “buy” rating and set a $86.00 price objective (up from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Bank of America began coverage on Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 target price on the stock. Finally, Stephens increased their price target 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.33.

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.