Fastenal Company $FAST Shares Sold by Flossbach Von Storch SE

Flossbach Von Storch SE cut its stake in Fastenal Company (NASDAQ:FAST) by 35.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,667 shares of the company’s stock after selling 70,869 shares during the period. Flossbach Von Storch SE’s holdings in Fastenal were worth $6,408,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Fastenal by 103.5% during the second quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock worth $6,265,119,000 after purchasing an additional 75,852,223 shares during the last quarter. State Street Corp lifted its holdings in Fastenal by 99.6% during the 2nd quarter. State Street Corp now owns 54,317,385 shares of the company’s stock worth $2,281,330,000 after buying an additional 27,107,520 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Fastenal by 103.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock worth $1,931,830,000 after acquiring an additional 23,380,022 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Fastenal by 103.8% in the 2nd quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock valued at $1,506,141,000 after acquiring an additional 18,329,847 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Fastenal by 87.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock valued at $1,463,743,000 after acquiring an additional 16,308,254 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Trading Down 0.8%

Shares of NASDAQ FAST opened at $43.62 on Thursday. The business has a 50 day simple moving average of $41.71 and a 200 day simple moving average of $44.46. 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 $50.08 billion, a price-to-earnings ratio of 39.65, a PEG ratio of 2.80 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. On average, research analysts predict that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th will be given a dividend of $0.24 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, January 29th. Fastenal’s dividend payout ratio (DPR) is presently 80.00%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wolfe Research decreased their price objective on shares of Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a report on Wednesday, January 21st. Robert W. Baird reduced their price target on shares of Fastenal from $53.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Jefferies Financial Group set a $52.00 price objective on Fastenal and gave the stock a “buy” rating in a report on Monday, December 15th. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research note on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Fastenal presently has an average rating of “Hold” and an average target price of $48.00.

Insiders Place Their Bets

In other news, Director Sarah N. Nielsen purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average cost of $39.60 per share, with a total value of $39,600.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $198,000. This trade represents a 25.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Scott Satterlee sold 15,964 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $44.19, for a total transaction of $705,449.16. Following the sale, the director directly owned 50,000 shares in the company, valued at $2,209,500. This represents a 24.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company’s stock.

About Fastenal

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.