Huntington National Bank Has $2.66 Million Stock Position in Fastenal Company $FAST

Huntington National Bank lessened its stake in shares of Fastenal Company (NASDAQ:FAST) by 25.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,261 shares of the company’s stock after selling 18,519 shares during the period. Huntington National Bank’s holdings in Fastenal were worth $2,661,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Fastenal in the 2nd quarter valued at approximately $27,000. NewSquare Capital LLC increased its holdings in Fastenal by 197.5% during the second quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock worth $30,000 after buying an additional 474 shares during the last quarter. MV Capital Management Inc. increased its holdings in Fastenal by 96.1% during the second quarter. MV Capital Management Inc. now owns 712 shares of the company’s stock worth $30,000 after buying an additional 349 shares during the last quarter. SOA Wealth Advisors LLC. raised its position in Fastenal by 71.6% during the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after acquiring an additional 255 shares in the last quarter. Finally, REAP Financial Group LLC acquired a new stake in Fastenal in the third quarter valued at $30,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Scott Satterlee sold 15,964 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total value of $705,449.16. Following the completion of the transaction, the director directly owned 50,000 shares in the company, valued at approximately $2,209,500. The trade was a 24.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.28% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FAST shares. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a research note on Wednesday, January 21st. Robert W. Baird raised their price objective on Fastenal from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Barclays set a $43.00 target price on Fastenal and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. Wolfe Research boosted their target price on Fastenal from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Friday. Finally, Jefferies Financial Group set a $52.00 price target on Fastenal and gave the company a “buy” rating in a research note on Monday, December 15th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fastenal currently has an average rating of “Hold” and an average price target of $48.27.

Fastenal Trading Up 0.8%

Shares of FAST stock opened at $46.04 on Monday. The stock has a market cap of $52.87 billion, a P/E ratio of 41.85, a price-to-earnings-growth ratio of 2.94 and a beta of 0.88. Fastenal Company has a 1 year low of $35.31 and a 1 year high of $50.63. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03. The stock has a 50 day simple moving average of $43.88 and a 200 day simple moving average of $44.33.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 EPS. On average, research analysts predict that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, January 29th were given a dividend of $0.24 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, January 29th. Fastenal’s dividend payout ratio (DPR) is currently 87.27%.

Fastenal Profile

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.