Amalgamated Bank Sells 3,617 Shares of Fastenal (NASDAQ:FAST)

Amalgamated Bank trimmed its holdings in shares of Fastenal (NASDAQ:FAST) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 149,300 shares of the company’s stock after selling 3,617 shares during the period. Amalgamated Bank’s holdings in Fastenal were worth $9,670,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of FAST. Charles Schwab Investment Management Inc. increased its position in shares of Fastenal by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company’s stock valued at $751,780,000 after acquiring an additional 423,112 shares during the period. Morgan Stanley lifted its stake in Fastenal by 4.1% in the third quarter. Morgan Stanley now owns 8,582,669 shares of the company’s stock worth $468,957,000 after acquiring an additional 337,168 shares during the period. Northern Trust Corp increased its position in Fastenal by 5.9% during the 3rd quarter. Northern Trust Corp now owns 7,444,498 shares of the company’s stock valued at $406,767,000 after purchasing an additional 413,572 shares during the period. Invesco Ltd. raised its holdings in Fastenal by 16.5% in the 3rd quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock worth $368,563,000 after purchasing an additional 957,091 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Fastenal by 9.3% in the 3rd quarter. Royal Bank of Canada now owns 6,651,629 shares of the company’s stock worth $363,445,000 after purchasing an additional 568,372 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Activity

In other Fastenal news, EVP Anthony Paul Broersma sold 5,586 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total value of $387,333.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Anthony Paul Broersma sold 5,586 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total value of $387,333.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffery Michael Watts sold 19,420 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total value of $1,364,255.00. Following the completion of the transaction, the insider now directly owns 5,940 shares in the company, valued at approximately $417,285. The disclosure for this sale can be found here. Insiders have sold a total of 36,082 shares of company stock valued at $2,584,060 over the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

Fastenal Stock Up 0.5 %

Fastenal stock traded up $0.34 during mid-day trading on Friday, reaching $68.43. The stock had a trading volume of 2,592,954 shares, compared to its average volume of 4,096,502. Fastenal has a one year low of $52.85 and a one year high of $79.04. The company has a 50-day moving average price of $73.21 and a two-hundred day moving average price of $67.01. The company has a market capitalization of $39.18 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 3.56 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49.

Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 EPS. On average, analysts expect that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Wednesday, April 24th. Fastenal’s dividend payout ratio is currently 77.23%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FAST shares. Robert W. Baird decreased their price target on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. HSBC increased their target price on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Stifel Nicolaus upped their price target on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Loop Capital lowered their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal has a consensus rating of “Hold” and a consensus price target of $67.67.

Fastenal Company 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.