Fastenal Company $FAST Position Trimmed by US Bancorp DE

US Bancorp DE decreased its holdings in Fastenal Company (NASDAQ:FAST) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 836,960 shares of the company’s stock after selling 26,760 shares during the quarter. US Bancorp DE’s holdings in Fastenal were worth $41,045,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of FAST. Vanguard Group Inc. boosted its stake in shares of Fastenal by 103.5% during the 2nd quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock worth $6,265,119,000 after acquiring an additional 75,852,223 shares in the last quarter. State Street Corp lifted its holdings in shares of Fastenal by 99.6% during the second quarter. State Street Corp now owns 54,317,385 shares of the company’s stock valued at $2,281,330,000 after purchasing an additional 27,107,520 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Fastenal by 103.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock valued at $1,931,830,000 after purchasing an additional 23,380,022 shares during the period. Geode Capital Management LLC increased its stake in Fastenal by 103.8% in the 2nd quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock worth $1,506,141,000 after purchasing an additional 18,329,847 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Fastenal by 87.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 34,851,036 shares of the company’s stock worth $1,463,743,000 after buying an additional 16,308,254 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In other Fastenal news, Director Scott Satterlee sold 15,964 shares of the business’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $44.19, for a total value of $705,449.16. Following the transaction, the director owned 50,000 shares in the company, valued at approximately $2,209,500. The trade was a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by company insiders.

Fastenal Trading Up 2.4%

NASDAQ FAST opened at $45.68 on Friday. The stock has a 50-day moving average of $43.81 and a 200-day moving average of $44.40. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03. Fastenal Company has a 1-year low of $35.31 and a 1-year high of $50.63. The firm has a market cap of $52.45 billion, a PE ratio of 41.53, a price-to-earnings-growth ratio of 2.85 and a beta of 0.89.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. Fastenal had a return on equity of 32.83% and a net margin of 15.35%.The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts forecast that Fastenal Company will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, January 29th. This is an increase from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio is currently 87.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FAST shares. UBS Group restated a “neutral” rating and set a $46.00 price target on shares of Fastenal in a report on Wednesday, January 21st. Sanford C. Bernstein reissued an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Barclays set a $43.00 target price on Fastenal and gave the company an “equal weight” rating in a research note on Wednesday, January 21st. Jefferies Financial Group set a $52.00 price target on shares of Fastenal and gave the stock a “buy” rating in a research report on Monday, December 15th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $48.18.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.