Raymond James Trust N.A. Sells 793 Shares of Fastenal (NASDAQ:FAST)

Raymond James Trust N.A. lowered its stake in Fastenal (NASDAQ:FAST) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 133,825 shares of the company’s stock after selling 793 shares during the quarter. Raymond James Trust N.A.’s holdings in Fastenal were worth $8,410,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FAST. Norges Bank bought a new stake in shares of Fastenal during the 4th quarter valued at $405,513,000. ProShare Advisors LLC boosted its holdings in shares of Fastenal by 497.3% during the 1st quarter. ProShare Advisors LLC now owns 3,099,333 shares of the company’s stock valued at $239,083,000 after buying an additional 2,580,478 shares in the last quarter. Confluence Investment Management LLC bought a new stake in shares of Fastenal during the 1st quarter valued at $195,459,000. TD Asset Management Inc boosted its holdings in shares of Fastenal by 112.9% during the 4th quarter. TD Asset Management Inc now owns 2,679,735 shares of the company’s stock valued at $173,566,000 after buying an additional 1,420,763 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in shares of Fastenal by 15.2% during the 4th quarter. Baird Financial Group Inc. now owns 7,928,209 shares of the company’s stock valued at $513,510,000 after buying an additional 1,043,529 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Insiders Place Their Bets

In other Fastenal news, Director Hsenghung Sam Hsu bought 500 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was acquired at an average price of $63.28 per share, with a total value of $31,640.00. Following the transaction, the director now owns 3,500 shares in the company, valued at $221,480. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP James C. Jansen sold 11,428 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total value of $732,191.96. Following the transaction, the executive vice president now owns 26,176 shares in the company, valued at approximately $1,677,096.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hsenghung Sam Hsu acquired 500 shares of the stock in a transaction dated Monday, June 10th. The stock was acquired at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the purchase, the director now directly owns 3,500 shares in the company, valued at $221,480. The disclosure for this purchase can be found here. 0.41% of the stock is owned by insiders.

Fastenal Stock Up 0.9 %

Shares of FAST traded up $0.59 during trading hours on Friday, hitting $68.10. The company had a trading volume of 1,436,259 shares, compared to its average volume of 3,555,734. The firm has a fifty day moving average price of $66.17 and a 200-day moving average price of $68.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39. The stock has a market capitalization of $38.99 billion, a price-to-earnings ratio of 33.88, a P/E/G ratio of 3.65 and a beta of 1.01. Fastenal has a 52-week low of $53.83 and a 52-week high of $79.04.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. Fastenal’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that Fastenal will post 2.05 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Friday, July 26th. Fastenal’s dividend payout ratio (DPR) is 77.61%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Stifel Nicolaus restated a “buy” rating and set a $80.00 target price (down previously from $85.00) on shares of Fastenal in a report on Monday, July 15th. Robert W. Baird dropped their target price on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Stephens reaffirmed an “equal weight” rating and issued a $56.00 price target on shares of Fastenal in a research report on Monday, July 15th. Finally, Jefferies Financial Group lowered their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and an average price target of $66.67.

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.