Greenleaf Trust Has $2.86 Million Position in Fastenal (NASDAQ:FAST)

Greenleaf Trust lowered its stake in shares of Fastenal (NASDAQ:FAST) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,704 shares of the company’s stock after selling 814 shares during the quarter. Greenleaf Trust’s holdings in Fastenal were worth $2,855,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Q3 Asset Management acquired a new stake in Fastenal during the fourth quarter worth approximately $311,000. Tokio Marine Asset Management Co. Ltd. lifted its stake in Fastenal by 950.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 156,764 shares of the company’s stock worth $11,273,000 after purchasing an additional 141,836 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Fastenal by 28.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,323 shares of the company’s stock worth $670,000 after purchasing an additional 2,060 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in Fastenal by 85.5% during the fourth quarter. Chicago Partners Investment Group LLC now owns 9,078 shares of the company’s stock worth $662,000 after purchasing an additional 4,183 shares during the last quarter. Finally, Caprock Group LLC bought a new stake in Fastenal during the fourth quarter worth $1,408,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Down 2.3 %

Shares of NASDAQ:FAST opened at $73.24 on Monday. The firm has a market cap of $41.96 billion, a P/E ratio of 36.44, a P/E/G ratio of 3.52 and a beta of 1.02. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The business has a fifty day simple moving average of $76.43 and a 200 day simple moving average of $73.76.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 earnings per share. Analysts predict that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be given a dividend of $0.43 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.35%. The ex-dividend date is Friday, January 31st. Fastenal’s dividend payout ratio (DPR) is currently 85.57%.

Wall Street Analyst Weigh In

FAST has been the subject of several recent analyst reports. Morgan Stanley upped their target price on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Robert W. Baird upped their target price on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Stifel Nicolaus cut their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Jefferies Financial Group upped their target price on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, Stephens increased 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. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal has a consensus rating of “Hold” and an average target price of $76.91.

Insider Buying and Selling

In other Fastenal news, Director Daniel L. Johnson sold 8,474 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total transaction of $706,392.64. Following the completion of the sale, the director now directly owns 10,595 shares in the company, valued at approximately $883,199.20. This trade represents a 44.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Daniel L. Florness sold 31,818 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $84.50, for a total value of $2,688,621.00. Following the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at approximately $24,168,521. The trade was a 10.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,772 shares of company stock valued at $5,365,455 in the last three months. 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.