Huntington National Bank Sells 1,086 Shares of Fastenal (NASDAQ:FAST)

Huntington National Bank decreased its position in shares of Fastenal (NASDAQ:FAST) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,051 shares of the company’s stock after selling 1,086 shares during the period. Huntington National Bank’s holdings in Fastenal were worth $2,289,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FAST. ICICI Prudential Asset Management Co Ltd lifted its position in shares of Fastenal by 18.9% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 7,475 shares of the company’s stock valued at $534,000 after acquiring an additional 1,186 shares in the last quarter. Pinnacle Financial Partners Inc raised its stake in Fastenal by 59.0% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 131,568 shares of the company’s stock valued at $9,397,000 after purchasing an additional 48,804 shares during the period. Haverford Trust Co lifted its holdings in Fastenal by 20.5% in the 3rd quarter. Haverford Trust Co now owns 18,340 shares of the company’s stock worth $1,310,000 after purchasing an additional 3,116 shares in the last quarter. Commonwealth Retirement Investments LLC grew its holdings in Fastenal by 2.8% during the 3rd quarter. Commonwealth Retirement Investments LLC now owns 22,235 shares of the company’s stock valued at $1,588,000 after buying an additional 609 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Fastenal by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,416,628 shares of the company’s stock valued at $101,176,000 after buying an additional 17,997 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Trading Down 0.4 %

FAST stock opened at $81.85 on Friday. Fastenal has a twelve month low of $59.47 and a twelve month high of $84.88. The stock has a market capitalization of $46.89 billion, a price-to-earnings ratio of 40.72, a price-to-earnings-growth ratio of 4.90 and a beta of 0.99. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. The firm’s fifty day simple moving average is $74.64 and its two-hundred day simple moving average is $69.13.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period in the prior year, the company posted $0.52 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, analysts anticipate that Fastenal will post 2.03 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FAST. Robert W. Baird upped their target price on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Stephens lifted their price objective on Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Stifel Nicolaus reiterated a “buy” rating and set a $86.00 target price (up from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Morgan Stanley raised their target price on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Finally, UBS Group assumed coverage on shares of Fastenal in a research report on Wednesday. They set a “neutral” rating and a $88.00 price objective for the company. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $74.80.

Insider Buying and Selling at Fastenal

In other news, CAO Sheryl Ann Lisowski sold 13,567 shares of Fastenal stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.19, for a total transaction of $1,033,669.73. Following the completion of the sale, the chief accounting officer now owns 5,096 shares of the company’s stock, valued at approximately $388,264.24. The trade was a 72.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Daniel L. Florness sold 45,744 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The trade was a 13.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,033 shares of company stock valued at $19,240,434 in the last quarter. 0.41% of the stock is owned by insiders.

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.