Stephens Investment Management Group LLC Sells 2,119 Shares of Fastenal (NASDAQ:FAST)

Stephens Investment Management Group LLC decreased its stake in Fastenal (NASDAQ:FAST) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 226,387 shares of the company’s stock after selling 2,119 shares during the period. Stephens Investment Management Group LLC’s holdings in Fastenal were worth $16,279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Fastenal in the third quarter worth approximately $25,000. Knuff & Co LLC bought a new stake in shares of Fastenal in the 3rd quarter worth approximately $27,000. First Personal Financial Services purchased a new stake in shares of Fastenal in the 3rd quarter valued at $36,000. CVA Family Office LLC grew its holdings in shares of Fastenal by 51.0% during the 3rd quarter. CVA Family Office LLC now owns 533 shares of the company’s stock valued at $38,000 after purchasing an additional 180 shares during the last quarter. Finally, MCF Advisors LLC raised its position in Fastenal by 54.1% in the 3rd quarter. MCF Advisors LLC now owns 635 shares of the company’s stock worth $45,000 after purchasing an additional 223 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wolfe Research upped their price target on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Robert W. Baird raised their price target on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Morgan Stanley lifted their price target on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Jefferies Financial Group increased their price objective on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, HSBC downgraded shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.91.

Fastenal Trading Down 1.1 %

NASDAQ:FAST opened at $73.84 on Monday. The company has a 50-day moving average price of $75.44 and a 200-day moving average price of $73.94. The stock has a market cap of $42.30 billion, a price-to-earnings ratio of 36.74, a P/E/G ratio of 3.55 and a beta of 1.02. The company has a current ratio of 4.67, a quick ratio of 2.28 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.

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

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.33%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. Fastenal’s dividend payout ratio is presently 85.57%.

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.