Fastenal (NASDAQ:FAST) Position Trimmed by Capital Investment Services of America Inc.

Capital Investment Services of America Inc. lowered its stake in Fastenal (NASDAQ:FAST) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,799 shares of the company’s stock after selling 1,500 shares during the period. Capital Investment Services of America Inc.’s holdings in Fastenal were worth $5,128,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Central Valley Advisors LLC purchased a new stake in shares of Fastenal during the second quarter valued at $28,000. Moisand Fitzgerald Tamayo LLC lifted its stake in Fastenal by 1,019.0% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after buying an additional 428 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Fastenal in the first quarter worth about $39,000. Triad Wealth Partners LLC purchased a new position in shares of Fastenal in the second quarter worth approximately $32,000. Finally, Crewe Advisors LLC raised its holdings in shares of Fastenal by 528.4% during the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after acquiring an additional 428 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other news, EVP Anthony Paul Broersma sold 680 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fastenal news, CAO Sheryl Ann Lisowski sold 13,567 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $76.19, for a total transaction of $1,033,669.73. Following the completion of the transaction, the chief accounting officer now owns 5,096 shares of the company’s stock, valued at $388,264.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony Paul Broersma sold 680 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total transaction of $52,944.80. The disclosure for this sale can be found here. Insiders have sold a total of 190,261 shares of company stock worth $13,874,979 over the last three months. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FAST shares. Bank of America started coverage on shares of Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 price objective for the company. Robert W. Baird lifted their price target on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Stephens lifted their target price on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Finally, Jefferies Financial Group reduced their price target 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. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Fastenal has an average rating of “Hold” and an average target price of $73.33.

Fastenal Stock Down 0.2 %

Shares of NASDAQ FAST traded down $0.15 during trading hours on Monday, hitting $78.08. The stock had a trading volume of 467,310 shares, compared to its average volume of 3,320,162. The firm’s 50-day moving average price is $71.94 and its two-hundred day moving average price is $68.23. Fastenal has a 52 week low of $58.23 and a 52 week high of $79.04. The company has a market capitalization of $44.73 billion, a P/E ratio of 38.92, a P/E/G ratio of 4.58 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40.

Fastenal (NASDAQ:FAST) last posted its 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 company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. Analysts anticipate that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, October 25th. Fastenal’s payout ratio is 77.61%.

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.