Blair William & Co. IL Has $204.45 Million Holdings in Fastenal (NASDAQ:FAST)

Blair William & Co. IL trimmed its stake in shares of Fastenal (NASDAQ:FAST) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,253,467 shares of the company’s stock after selling 21,365 shares during the period. Blair William & Co. IL owned approximately 0.57% of Fastenal worth $204,448,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Gilbert & Cook Inc. boosted its position in Fastenal by 4.9% in the 4th quarter. Gilbert & Cook Inc. now owns 6,684 shares of the company’s stock valued at $433,000 after buying an additional 312 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in Fastenal by 7.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 12,978 shares of the company’s stock valued at $841,000 after acquiring an additional 924 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Fastenal by 0.8% in the fourth quarter. Panagora Asset Management Inc. now owns 19,095 shares of the company’s stock valued at $1,237,000 after acquiring an additional 152 shares during the last quarter. Kingsview Wealth Management LLC acquired a new stake in Fastenal in the fourth quarter worth about $207,000. Finally, Independent Advisor Alliance raised its holdings in Fastenal by 4.5% during the 4th quarter. Independent Advisor Alliance now owns 9,602 shares of the company’s stock worth $622,000 after purchasing an additional 410 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Daniel L. Florness sold 45,744 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at $19,489,266.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Daniel L. Florness sold 45,744 shares of the business’s stock in a transaction dated 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 directly owns 286,018 shares in the company, valued at $19,489,266.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,929,734.24. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

FAST has been the topic of several recent research reports. Morgan Stanley initiated coverage on shares of Fastenal in a research note on Friday, September 6th. They issued an “equal weight” rating and a $72.00 target price on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 price objective (down from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Jefferies Financial Group dropped their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Finally, Stephens restated an “equal weight” rating and issued a $56.00 price target on shares of Fastenal in a research report on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $67.43.

Fastenal Price Performance

Shares of FAST stock opened at $70.59 on Wednesday. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. Fastenal has a 12-month low of $53.83 and a 12-month high of $79.04. The firm has a fifty day moving average of $67.66 and a 200-day moving average of $68.48. The firm has a market capitalization of $40.42 billion, a price-to-earnings ratio of 35.12, a price-to-earnings-growth ratio of 3.78 and a beta of 1.01.

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

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.56 annualized dividend and a yield of 2.21%. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

Fastenal 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.