Fastenal Company (FAST) Shares Sold by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. lowered its position in Fastenal Company (NASDAQ:FAST) by 9.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,095 shares of the company’s stock after selling 2,420 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Fastenal Company were worth $1,138,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Dorsey & Whitney Trust CO LLC boosted its stake in Fastenal Company by 1.2% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 110,317 shares of the company’s stock valued at $4,609,000 after buying an additional 1,269 shares during the last quarter. Rikoon Group LLC bought a new stake in Fastenal Company during the third quarter valued at $1,660,000. Fred Alger Management Inc. bought a new stake in Fastenal Company during the fourth quarter valued at $15,516,000. State Street Corp boosted its stake in Fastenal Company by 5.8% in the fourth quarter. State Street Corp now owns 11,993,495 shares of the company’s stock valued at $563,456,000 after buying an additional 657,549 shares during the last quarter. Finally, Allianz Asset Management AG bought a new stake in Fastenal Company during the fourth quarter valued at $2,235,000. Institutional investors and hedge funds own 78.11% of the company’s stock.

Institutional Ownership by Quarter for Fastenal Company (NASDAQ:FAST)

Shares of Fastenal Company (NASDAQ:FAST) traded up 2.19% on Friday, reaching $43.88. 1,883,171 shares of the company’s stock were exchanged. The stock has a market cap of $12.69 billion, a P/E ratio of 25.07 and a beta of 1.02. Fastenal Company has a 52-week low of $37.70 and a 52-week high of $52.74. The company’s 50 day moving average price is $46.60 and its 200-day moving average price is $47.87.

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Fastenal Company (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, April 12th. The company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Fastenal Company had a net margin of 12.61% and a return on equity of 26.52%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. Equities analysts forecast that Fastenal Company will post $1.87 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Stockholders of record on Wednesday, April 26th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Monday, April 24th. Fastenal Company’s dividend payout ratio (DPR) is 73.99%.

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Several equities research analysts have weighed in on FAST shares. Credit Suisse Group AG set a $52.00 price objective on shares of Fastenal Company and gave the company a “buy” rating in a research report on Thursday, May 4th. Raymond James Financial, Inc. upgraded shares of Fastenal Company from a “market perform” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Wednesday, April 19th. Zacks Investment Research upgraded shares of Fastenal Company from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Tuesday, March 21st. Argus upgraded shares of Fastenal Company from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Tuesday, April 18th. Finally, Stifel Nicolaus lifted their price target on shares of Fastenal Company from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Thursday, January 19th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $50.37.

In other news, Director Darren R. Jackson bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The shares were bought at an average cost of $44.75 per share, for a total transaction of $223,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Willard D. Oberton sold 10,000 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $50.19, for a total value of $501,900.00. Following the completion of the transaction, the director now owns 378,454 shares in the company, valued at $18,994,606.26. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 5,700 shares of company stock valued at $255,583. Insiders own 0.78% of the company’s stock.

About Fastenal Company

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

5 Day Chart for NASDAQ:FAST

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