Fastenal Company $FAST Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al cut its holdings in shares of Fastenal Company (NASDAQ:FAST) by 23.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 683,484 shares of the company’s stock after selling 207,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.06% of Fastenal worth $27,428,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. REAP Financial Group LLC acquired a new stake in Fastenal during the third quarter valued at approximately $30,000. Field & Main Bank acquired a new stake in Fastenal during the fourth quarter valued at approximately $30,000. First Horizon Corp acquired a new stake in Fastenal during the third quarter valued at approximately $33,000. Manning & Napier Advisors LLC purchased a new stake in shares of Fastenal in the 3rd quarter valued at approximately $35,000. Finally, Tradewinds Capital Management LLC purchased a new stake in shares of Fastenal in the 4th quarter valued at approximately $35,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fastenal

In other news, Director Reyne K. Wisecup sold 36,920 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the transaction, the director owned 40,000 shares in the company, valued at $1,893,600. This represents a 48.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Raymond James Financial set a $48.00 price target on shares of Fastenal in a research report on Thursday, March 5th. Morgan Stanley restated a “positive” rating and issued a $45.00 price target on shares of Fastenal in a research report on Thursday, March 5th. Bank of America upped their price objective on shares of Fastenal from $48.00 to $55.00 in a research note on Monday, April 13th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $42.00 price objective on shares of Fastenal in a research note on Tuesday, April 14th. Finally, Wolfe Research dropped their price objective on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 14th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Fastenal has a consensus rating of “Hold” and a consensus price target of $49.77.

Fastenal Stock Performance

Shares of FAST opened at $43.77 on Thursday. The company’s fifty day moving average is $45.47 and its 200-day moving average is $43.64. Fastenal Company has a 12 month low of $38.97 and a 12 month high of $50.63. The firm has a market cap of $50.25 billion, a price-to-earnings ratio of 38.40, a price-to-earnings-growth ratio of 2.76 and a beta of 0.75. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Monday, April 13th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the business posted $0.52 EPS. Fastenal’s quarterly revenue was up 12.4% on a year-over-year basis. Equities analysts expect that Fastenal Company will post 1.23 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th will be paid a dividend of $0.24 per share. The ex-dividend date is Tuesday, April 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. Fastenal’s dividend payout ratio is 84.21%.

Fastenal Company Profile

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.