Fastenal (NASDAQ:FAST) Shares Sold by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC cut its holdings in Fastenal (NASDAQ:FAST) by 40.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 92,032 shares of the company’s stock after selling 61,790 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Fastenal were worth $5,783,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of FAST. Sapient Capital LLC acquired a new stake in shares of Fastenal during the fourth quarter worth $204,000. Gilbert & Cook Inc. increased its stake in shares of Fastenal by 4.9% during the fourth quarter. Gilbert & Cook Inc. now owns 6,684 shares of the company’s stock worth $433,000 after acquiring an additional 312 shares during the period. Van ECK Associates Corp raised its holdings in Fastenal by 5.7% during the fourth quarter. Van ECK Associates Corp now owns 101,713 shares of the company’s stock worth $6,588,000 after purchasing an additional 5,509 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in Fastenal by 89.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 11,399 shares of the company’s stock valued at $738,000 after purchasing an additional 5,372 shares during the period. Finally, Savant Capital LLC boosted its holdings in Fastenal by 5.7% in the 4th quarter. Savant Capital LLC now owns 4,935 shares of the company’s stock valued at $320,000 after purchasing an additional 265 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Price Performance

Shares of NASDAQ:FAST traded up $0.78 during midday trading on Friday, hitting $68.28. 2,563,835 shares of the stock were exchanged, compared to its average volume of 2,057,335. Fastenal has a twelve month low of $53.83 and a twelve month high of $79.04. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average price of $66.45 and a 200-day moving average price of $68.79. The stock has a market cap of $39.10 billion, a P/E ratio of 33.97, a PEG ratio of 3.72 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, July 12th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, research analysts forecast that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Friday, July 26th. Fastenal’s payout ratio is 77.61%.

Insider Transactions at Fastenal

In related news, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Fastenal news, Director Hsenghung Sam Hsu purchased 500 shares of the business’s stock in a transaction on Monday, June 10th. The stock was bought at an average cost of $63.28 per share, for a total transaction of $31,640.00. Following the acquisition, the director now owns 3,500 shares of the company’s stock, valued at approximately $221,480. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the sale, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,489,266.52. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

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

About Fastenal

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.