TFG Advisers LLC Reduces Stock Position in Fastenal (NASDAQ:FAST)

TFG Advisers LLC trimmed its holdings in shares of Fastenal (NASDAQ:FAST) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,767 shares of the company’s stock after selling 379 shares during the quarter. TFG Advisers LLC’s holdings in Fastenal were worth $555,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Community Trust & Investment Co. purchased a new stake in Fastenal during the third quarter valued at approximately $515,000. Pictet North America Advisors SA increased its position in shares of Fastenal by 1.5% during the 3rd quarter. Pictet North America Advisors SA now owns 75,590 shares of the company’s stock valued at $5,399,000 after purchasing an additional 1,081 shares during the last quarter. Symphony Financial Ltd. Co. raised its holdings in Fastenal by 12.8% during the 3rd quarter. Symphony Financial Ltd. Co. now owns 13,470 shares of the company’s stock valued at $963,000 after buying an additional 1,529 shares during the period. Sequoia Financial Advisors LLC lifted its position in Fastenal by 1.8% in the third quarter. Sequoia Financial Advisors LLC now owns 9,137 shares of the company’s stock worth $653,000 after buying an additional 165 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in Fastenal during the third quarter worth $83,000. Institutional investors own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In related news, EVP Anthony Paul Broersma sold 680 shares of Fastenal stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total transaction of $52,944.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Anthony Paul Broersma sold 680 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John Lewis Soderberg sold 488 shares of Fastenal stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $76.32, for a total value of $37,244.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,373 shares of company stock valued at $13,029,308. Company insiders own 0.41% of the company’s stock.

Fastenal Trading Down 1.1 %

Shares of Fastenal stock traded down $0.82 on Wednesday, hitting $75.72. 187,931 shares of the company traded hands, compared to its average volume of 3,351,136. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The company has a market cap of $43.35 billion, a PE ratio of 38.08, a PEG ratio of 4.13 and a beta of 1.01. The stock’s 50 day moving average price is $70.37 and its 200-day moving average price is $67.93. Fastenal has a 52 week low of $56.41 and a 52 week high of $79.04.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the prior year, the business earned $0.52 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts predict that Fastenal will post 2.04 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 annualized dividend and a dividend yield of 2.06%. Fastenal’s dividend payout ratio is currently 77.61%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FAST shares. Stephens raised their target price on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Robert W. Baird raised their price objective on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Stifel Nicolaus restated a “buy” rating and set a $86.00 target price (up previously from $80.00) on shares of Fastenal in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their price target on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Morgan Stanley raised 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. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Fastenal has a consensus rating of “Hold” and an average price target of $73.33.

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.