Fastenal (NASDAQ:FAST) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its stake in shares of Fastenal (NASDAQ:FAST) by 7.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,894 shares of the company’s stock after selling 3,251 shares during the period. Kentucky Retirement Systems’ holdings in Fastenal were worth $2,849,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Nicollet Investment Management Inc. increased its stake in shares of Fastenal by 1.2% in the 3rd quarter. Nicollet Investment Management Inc. now owns 38,932 shares of the company’s stock worth $2,781,000 after acquiring an additional 446 shares during the last quarter. Empirical Finance LLC boosted its position in shares of Fastenal by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 19,775 shares of the company’s stock valued at $1,412,000 after acquiring an additional 411 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Fastenal by 5.2% in the third quarter. CIBC Asset Management Inc now owns 194,438 shares of the company’s stock valued at $13,887,000 after purchasing an additional 9,668 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in Fastenal by 8.7% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,928 shares of the company’s stock worth $1,066,000 after purchasing an additional 1,195 shares during the last quarter. Finally, Metis Global Partners LLC raised its stake in Fastenal by 5.6% during the third quarter. Metis Global Partners LLC now owns 29,243 shares of the company’s stock worth $2,089,000 after purchasing an additional 1,543 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Stock Down 0.4 %

Shares of NASDAQ:FAST opened at $81.85 on Monday. The firm’s 50-day moving average is $74.96 and its two-hundred day moving average is $69.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. Fastenal has a 1 year low of $59.47 and a 1 year high of $84.88. The firm has a market capitalization of $46.89 billion, a PE ratio of 40.72, a price-to-earnings-growth ratio of 4.80 and a beta of 0.99.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $1.91 billion for 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 firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. Analysts predict that Fastenal will post 2.03 EPS for the current year.

Fastenal Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Bank of America started coverage on shares of Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 price target for the company. Robert W. Baird increased their price objective on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Morgan Stanley lifted their target price on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. UBS Group began coverage on Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target for the company. Finally, Stephens boosted their price objective on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Eight research 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, Fastenal has a consensus rating of “Hold” and a consensus price target of $74.80.

Insider Transactions at Fastenal

In other news, CAO Sheryl Ann Lisowski sold 13,567 shares of Fastenal stock in a transaction 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 directly owns 5,096 shares of the company’s stock, valued at approximately $388,264.24. The trade was a 72.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Charles S. Miller sold 23,480 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total value of $1,970,441.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,033 shares of company stock valued at $19,240,434. 0.41% of the stock is currently owned by corporate insiders.

About Fastenal

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.