Thomas Story & Son LLC Has $5.85 Million Position in Fastenal (NASDAQ:FAST)

Thomas Story & Son LLC lowered its position in Fastenal (NASDAQ:FAST) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,315 shares of the company’s stock after selling 1,250 shares during the quarter. Fastenal makes up about 2.4% of Thomas Story & Son LLC’s investment portfolio, making the stock its 18th largest holding. Thomas Story & Son LLC’s holdings in Fastenal were worth $5,847,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Brookstone Capital Management lifted its stake in shares of Fastenal by 10.1% during the 3rd quarter. Brookstone Capital Management now owns 4,986 shares of the company’s stock worth $356,000 after buying an additional 456 shares during the last quarter. Wedmont Private Capital increased its position in Fastenal by 20.6% during the third quarter. Wedmont Private Capital now owns 4,614 shares of the company’s stock worth $323,000 after acquiring an additional 788 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in Fastenal by 269.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,007 shares of the company’s stock worth $286,000 after acquiring an additional 2,923 shares during the period. Gateway Investment Advisers LLC increased its position in Fastenal by 7.8% during the third quarter. Gateway Investment Advisers LLC now owns 16,858 shares of the company’s stock worth $1,204,000 after acquiring an additional 1,213 shares during the period. Finally, Annex Advisory Services LLC increased its position in Fastenal by 40.9% during the third quarter. Annex Advisory Services LLC now owns 5,265 shares of the company’s stock worth $376,000 after acquiring an additional 1,529 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Down 1.1 %

Fastenal stock opened at $73.84 on Monday. 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 firm’s fifty day moving average is $75.44 and its 200 day moving average is $73.94. The company has a market capitalization of $42.30 billion, a PE ratio of 36.74, a PEG ratio of 3.55 and a beta of 1.02.

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

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Friday, January 31st. This is a positive change from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is 85.57%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Hsbc Global Res lowered shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Stephens raised their price target on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Robert W. Baird raised their target price on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Morgan Stanley raised their target price on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Finally, Wolfe Research raised their target price on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.91.

Insider Buying and Selling at Fastenal

In related news, Director Daniel L. Johnson sold 8,474 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total value of $706,392.64. Following the transaction, the director now directly owns 10,595 shares of the company’s stock, valued at approximately $883,199.20. The trade was a 44.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Charles S. Miller sold 23,480 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total transaction of $1,970,441.60. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

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.