Capital City Trust Co. FL Reduces Holdings in Fastenal (NASDAQ:FAST)

Capital City Trust Co. FL cut its holdings in Fastenal (NASDAQ:FAST) by 13.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,515 shares of the company’s stock after selling 2,924 shares during the period. Capital City Trust Co. FL’s holdings in Fastenal were worth $1,394,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Marshall Wace LLP raised its position in shares of Fastenal by 4,008.2% during the 2nd quarter. Marshall Wace LLP now owns 756,241 shares of the company’s stock valued at $47,522,000 after purchasing an additional 737,833 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Fastenal by 19.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock worth $241,161,000 after acquiring an additional 636,546 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Fastenal during the second quarter worth about $37,659,000. Thrivent Financial for Lutherans raised its stake in Fastenal by 13.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 4,420,659 shares of the company’s stock valued at $277,794,000 after purchasing an additional 517,172 shares during the period. Finally, Intech Investment Management LLC lifted its holdings in Fastenal by 117.1% in the 2nd quarter. Intech Investment Management LLC now owns 749,812 shares of the company’s stock worth $47,118,000 after purchasing an additional 404,502 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In other news, CAO Sheryl Ann Lisowski sold 13,567 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.19, for a total value of $1,033,669.73. Following the sale, the chief accounting officer now owns 5,096 shares in the company, valued at $388,264.24. This represents a 72.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $52,944.80. The disclosure for this sale can be found here. Insiders sold a total of 254,033 shares of company stock worth $19,240,434 over the last three months. 0.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FAST has been the topic of several recent analyst reports. UBS Group began coverage on shares of Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective on the stock. Bank of America initiated coverage on Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 price objective for the company. Robert W. Baird increased their price target on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Morgan Stanley lifted their price objective 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, Stephens upped their target price on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and an average price target of $74.80.

Fastenal Stock Performance

Shares of FAST stock opened at $81.85 on Monday. 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 has a market cap of $46.89 billion, a price-to-earnings ratio of 40.72, a PEG ratio of 4.80 and a beta of 0.99. Fastenal has a 52-week low of $59.47 and a 52-week high of $84.88. The company’s 50 day moving average is $74.96 and its 200 day moving average is $69.24.

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

Fastenal Dividend Announcement

The company also recently disclosed 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s dividend payout ratio is presently 77.61%.

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.