Private Trust Co. NA Sells 212 Shares of Fastenal (NASDAQ:FAST)

Private Trust Co. NA lessened its stake in shares of Fastenal (NASDAQ:FAST) by 7.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,811 shares of the company’s stock after selling 212 shares during the period. Private Trust Co. NA’s holdings in Fastenal were worth $201,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Fastenal in the 3rd quarter worth approximately $25,000. Knuff & Co LLC acquired a new stake in shares of Fastenal in the third quarter worth $27,000. Central Valley Advisors LLC acquired a new stake in shares of Fastenal in the second quarter worth $28,000. Moisand Fitzgerald Tamayo LLC boosted its holdings in shares of Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after buying an additional 428 shares during the period. Finally, First Personal Financial Services acquired a new position in Fastenal in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Trading Down 0.5 %

Shares of FAST stock opened at $83.71 on Friday. The firm has a fifty day moving average of $77.31 and a 200-day moving average of $70.18. The stock has a market cap of $47.96 billion, a price-to-earnings ratio of 41.65, a P/E/G ratio of 4.91 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 has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40.

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

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.86%. The ex-dividend date was Friday, October 25th. Fastenal’s dividend payout ratio is 77.61%.

Insider Buying and Selling at Fastenal

In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total value of $52,944.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP John Lewis Soderberg sold 488 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The disclosure for this sale can be found here. Insiders have sold 208,289 shares of company stock worth $16,123,438 over the last three months. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

FAST has been the subject of a number of research analyst reports. Morgan Stanley boosted their target price on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their target price on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Bank of America assumed coverage on Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 price target for the company. 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. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $86.00 target price (up from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $74.80.

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.