Fastenal (NASDAQ:FAST) Holdings Decreased by DGS Capital Management LLC

DGS Capital Management LLC lowered its stake in Fastenal (NASDAQ:FAST) by 16.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,634 shares of the company’s stock after selling 712 shares during the quarter. DGS Capital Management LLC’s holdings in Fastenal were worth $260,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in Fastenal during the third quarter worth approximately $25,000. Knuff & Co LLC acquired a new stake in shares of Fastenal in the third quarter valued at $27,000. Moisand Fitzgerald Tamayo LLC boosted 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. First Personal Financial Services bought a new position in Fastenal during the third quarter valued at about $36,000. Finally, Triad Wealth Partners LLC bought a new stake in Fastenal in the second quarter worth about $32,000. Institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the topic of several recent research reports. Stifel Nicolaus cut shares of Fastenal from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research note on Wednesday. Bank of America began coverage on Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective for the company. Morgan Stanley lifted their target price on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Jefferies Financial Group increased their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Finally, Stephens upped their price objective on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $77.40.

Fastenal Trading Down 0.7 %

NASDAQ FAST opened at $78.47 on Friday. The company has a market capitalization of $44.95 billion, a PE ratio of 39.04, a price-to-earnings-growth ratio of 4.69 and a beta of 1.00. Fastenal has a 1-year low of $61.33 and a 1-year high of $84.88. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The firm’s fifty day simple moving average is $79.47 and its 200-day simple moving average is $71.28.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 33.30% and a net margin of 15.44%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the business earned $0.52 EPS. As a group, sell-side analysts anticipate that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 25th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.56 annualized dividend and a yield of 1.99%. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

Insider Buying and Selling at Fastenal

In other Fastenal news, CEO Daniel L. Florness sold 31,818 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at $24,168,521. This represents a 10.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sheryl Ann Lisowski sold 13,567 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.19, for a total value of $1,033,669.73. Following the transaction, the chief accounting officer now directly owns 5,096 shares of the company’s stock, valued at $388,264.24. This represents a 72.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 158,289 shares of company stock worth $12,639,438 over the last three months. Corporate insiders own 0.41% of the company’s stock.

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.