Toronto Dominion Bank Sells 83,028 Shares of Fastenal (NASDAQ:FAST)

Toronto Dominion Bank reduced its stake in shares of Fastenal (NASDAQ:FAST) by 28.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 205,358 shares of the company’s stock after selling 83,028 shares during the quarter. Toronto Dominion Bank’s holdings in Fastenal were worth $14,667,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. King Luther Capital Management Corp increased its stake in Fastenal by 1.6% in the 3rd quarter. King Luther Capital Management Corp now owns 8,664 shares of the company’s stock worth $619,000 after purchasing an additional 136 shares during the period. Verdence Capital Advisors LLC boosted its stake in shares of Fastenal by 1.9% during the third quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock valued at $545,000 after purchasing an additional 142 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Fastenal by 5.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock valued at $186,000 after buying an additional 143 shares during the last quarter. Compass Ion Advisors LLC raised its holdings in Fastenal by 1.5% during the 3rd quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock valued at $709,000 after buying an additional 146 shares during the last quarter. Finally, Catalina Capital Group LLC grew its holdings in Fastenal by 4.5% in the 3rd quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock worth $240,000 after acquiring an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Trading Down 0.7 %

Shares of NASDAQ FAST opened at $78.47 on Friday. Fastenal has a 1 year low of $61.33 and a 1 year high of $84.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. The firm has a 50-day moving average of $79.47 and a 200 day moving average of $71.28. The stock has a market cap of $44.95 billion, a P/E ratio of 39.04, a price-to-earnings-growth ratio of 4.69 and a beta of 1.00.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the previous year, the firm posted $0.52 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, sell-side analysts expect that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

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

Insider Activity

In other Fastenal news, VP John Lewis Soderberg sold 488 shares of the stock in a transaction 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 SEC, which is available through this link. Also, CFO Holden Lewis sold 30,000 shares of Fastenal stock in a transaction on Monday, October 14th. The stock was sold at an average price of $76.52, for a total value of $2,295,600.00. Following the completion of the sale, the chief financial officer now directly owns 9,881 shares of the company’s stock, valued at approximately $756,094.12. The trade was a 75.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,289 shares of company stock worth $12,639,438 over the last three months. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FAST has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Robert W. Baird lifted their price objective on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday. Bank of America started coverage on Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 price target for the company. Finally, UBS Group assumed coverage on shares of Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Fastenal presently has an average rating of “Hold” and an average target price of $77.40.

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.