Dearborn Partners LLC Decreases Stock Holdings in Fastenal Company $FAST

Dearborn Partners LLC reduced its position in shares of Fastenal Company (NASDAQ:FAST) by 24.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 563,828 shares of the company’s stock after selling 186,327 shares during the quarter. Dearborn Partners LLC’s holdings in Fastenal were worth $27,650,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Fastenal in the second quarter valued at about $27,000. NewSquare Capital LLC grew its stake in shares of Fastenal by 197.5% in the second quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock worth $30,000 after purchasing an additional 474 shares during the last quarter. MV Capital Management Inc. increased its holdings in Fastenal by 96.1% during the 2nd quarter. MV Capital Management Inc. now owns 712 shares of the company’s stock valued at $30,000 after purchasing an additional 349 shares during the period. SOA Wealth Advisors LLC. raised its position in Fastenal by 71.6% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after purchasing an additional 255 shares during the last quarter. Finally, REAP Financial Group LLC bought a new position in Fastenal during the 3rd quarter valued at approximately $30,000. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In related news, Director Scott Satterlee sold 15,964 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total transaction of $705,449.16. Following the completion of the transaction, the director owned 50,000 shares of the company’s stock, valued at $2,209,500. This trade represents a 24.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FAST shares. Jefferies Financial Group set a $52.00 price objective on Fastenal and gave the stock a “buy” rating in a research report on Monday, December 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. Barclays set a $43.00 price target on shares of Fastenal and gave the company an “equal weight” rating in a report on Wednesday, January 21st. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Finally, UBS Group reaffirmed a “neutral” rating and issued a $46.00 target price on shares of Fastenal in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Fastenal currently has an average rating of “Hold” and a consensus price target of $48.18.

Fastenal Stock Performance

Shares of FAST stock opened at $46.22 on Friday. The company’s fifty day moving average price is $43.57 and its 200-day moving average price is $44.45. The stock has a market cap of $53.07 billion, a PE ratio of 42.02, a price-to-earnings-growth ratio of 2.95 and a beta of 0.89. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03. Fastenal Company has a 12 month low of $35.31 and a 12 month high of $50.63.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period last year, the company posted $0.46 EPS. Fastenal’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts expect that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, January 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s payout ratio is presently 87.27%.

About Fastenal

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.