Evermay Wealth Management LLC Reduces Position in Fastenal (NASDAQ:FAST)

Evermay Wealth Management LLC lowered its stake in Fastenal (NASDAQ:FAST) by 30.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,342 shares of the company’s stock after selling 1,900 shares during the quarter. Evermay Wealth Management LLC’s holdings in Fastenal were worth $310,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Fastenal by 5.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock worth $186,000 after purchasing an additional 143 shares during the period. Compass Ion Advisors LLC boosted its holdings in shares of Fastenal by 1.5% in the 3rd quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock worth $709,000 after purchasing an additional 146 shares during the period. Penobscot Investment Management Company Inc. lifted its stake in shares of Fastenal by 1.1% during the 1st quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock worth $1,030,000 after acquiring an additional 150 shares during the last quarter. Sara Bay Financial lifted its stake in shares of Fastenal by 1.3% during the 2nd quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock worth $746,000 after acquiring an additional 155 shares during the last quarter. Finally, Trueblood Wealth Management LLC lifted its stake in shares of Fastenal by 1.4% during the 2nd quarter. Trueblood Wealth Management LLC now owns 11,314 shares of the company’s stock worth $711,000 after acquiring an additional 156 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group decreased their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Bank of America initiated coverage on Fastenal in a research note on Monday, October 7th. They set a “buy” rating and a $85.00 target price on the stock. Stephens boosted their price target on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Robert W. Baird upped their price target on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their target price on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.33.

Fastenal Trading Up 0.2 %

Fastenal stock traded up $0.17 during mid-day trading on Wednesday, hitting $77.78. The company’s stock had a trading volume of 261,890 shares, compared to its average volume of 3,320,730. Fastenal has a 1 year low of $58.04 and a 1 year high of $79.04. The stock’s fifty day moving average is $71.32 and its two-hundred day moving average is $68.03. The firm has a market capitalization of $44.53 billion, a PE ratio of 38.61, a price-to-earnings-growth ratio of 4.48 and a beta of 1.01. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the business posted $0.52 earnings per share. On average, analysts anticipate that Fastenal will post 2.03 EPS for the current year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s dividend payout ratio is currently 77.61%.

Insider Buying and Selling at Fastenal

In related news, VP John Lewis Soderberg sold 488 shares of Fastenal stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Fastenal news, VP John Lewis Soderberg sold 488 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.32, for a total value of $37,244.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William Joseph Drazkowski sold 16,362 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.65, for a total transaction of $1,270,509.30. Following the sale, the insider now directly owns 5,997 shares of the company’s stock, valued at approximately $465,667.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 179,373 shares of company stock valued at $13,029,308. 0.41% of the stock is owned by corporate insiders.

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.