DekaBank Deutsche Girozentrale Cuts Holdings in Fastenal Company $FAST

DekaBank Deutsche Girozentrale decreased its holdings in Fastenal Company (NASDAQ:FAST) by 0.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,063,709 shares of the company’s stock after selling 4,180 shares during the period. DekaBank Deutsche Girozentrale owned about 0.09% of Fastenal worth $44,703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Oregon Public Employees Retirement Fund lifted its stake in shares of Fastenal by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company’s stock worth $3,817,000 after purchasing an additional 130 shares during the last quarter. Welch & Forbes LLC raised its holdings in Fastenal by 0.4% in the first quarter. Welch & Forbes LLC now owns 32,992 shares of the company’s stock worth $2,559,000 after purchasing an additional 135 shares in the last quarter. Principal Securities Inc. lifted its position in shares of Fastenal by 0.9% during the first quarter. Principal Securities Inc. now owns 15,886 shares of the company’s stock valued at $1,142,000 after buying an additional 140 shares during the last quarter. Essex Financial Services Inc. boosted its holdings in shares of Fastenal by 1.7% in the 1st quarter. Essex Financial Services Inc. now owns 8,870 shares of the company’s stock valued at $688,000 after buying an additional 147 shares in the last quarter. Finally, Integrated Wealth Concepts LLC boosted its stake in Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock valued at $487,000 after acquiring an additional 147 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Trading Up 0.8%

Shares of NASDAQ:FAST opened at $43.32 on Wednesday. The company has a quick ratio of 2.19, a current ratio of 4.26 and a debt-to-equity ratio of 0.03. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63. The stock has a market cap of $49.73 billion, a price-to-earnings ratio of 40.49, a PEG ratio of 3.92 and a beta of 0.94. The business has a 50-day moving average price of $47.63 and a 200-day moving average price of $44.10.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Monday, October 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Fastenal had a return on equity of 32.69% and a net margin of 15.34%.The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 earnings per share. Equities analysts predict that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, October 28th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, October 28th. Fastenal’s dividend payout ratio (DPR) is 82.24%.

Insider Buying and Selling

In other news, EVP William Joseph Drazkowski sold 6,842 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $48.67, for a total transaction of $333,000.14. Following the sale, the executive vice president owned 11,994 shares of the company’s stock, valued at $583,747.98. This trade represents a 36.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Hsenghung Sam Hsu bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was purchased at an average price of $42.45 per share, with a total value of $42,450.00. Following the completion of the purchase, the director owned 9,000 shares in the company, valued at approximately $382,050. This trade represents a 12.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 90,178 shares of company stock worth $4,336,603. 0.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FAST. Stephens increased their price objective on Fastenal from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Robert W. Baird decreased their price target on Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Loop Capital reissued a “hold” rating on shares of Fastenal in a report on Tuesday, July 15th. JPMorgan Chase & Co. upped their price objective on shares of Fastenal from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, September 4th. Finally, Stifel Nicolaus set a $82.00 price objective on shares of Fastenal in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Fastenal currently has an average rating of “Hold” and a consensus target price of $46.50.

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.