Fastenal Company $FAST Shares Sold by Steginsky Capital LLC

Steginsky Capital LLC lessened its holdings in shares of Fastenal Company (NASDAQ:FAST) by 1.0% in the third quarter, HoldingsChannel.com reports. The firm owned 1,440,322 shares of the company’s stock after selling 14,721 shares during the period. Fastenal comprises 13.0% of Steginsky Capital LLC’s holdings, making the stock its 5th largest position. Steginsky Capital LLC’s holdings in Fastenal were worth $70,633,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Fastenal by 103.5% in the second quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock valued at $6,265,119,000 after buying an additional 75,852,223 shares in the last quarter. State Street Corp increased its position 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 worth $2,281,330,000 after acquiring an additional 27,107,520 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 worth $1,931,830,000 after acquiring an additional 23,380,022 shares during the last quarter. Geode Capital Management LLC lifted its position in Fastenal by 103.8% in the 2nd quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock valued at $1,506,141,000 after acquiring an additional 18,329,847 shares in the last quarter. Finally, Norges Bank bought a new position in Fastenal in the 2nd quarter valued at about $638,648,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling

In other Fastenal news, Director Reyne K. Wisecup sold 36,920 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total value of $1,747,792.80. Following the completion of the sale, the director owned 40,000 shares of the company’s stock, valued at $1,893,600. This represents a 48.00% 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, Director Scott Satterlee sold 15,964 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the transaction, the director owned 50,000 shares in the company, valued at $2,209,500. The trade was a 24.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

FAST has been the subject of a number of recent research reports. Wolfe Research boosted their price objective on Fastenal from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Friday, February 27th. Jefferies Financial Group set a $52.00 target price on Fastenal and gave the company a “buy” rating in a report on Monday, December 15th. Barclays lifted their target price on Fastenal from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Friday, March 6th. Raymond James Financial set a $48.00 price target on Fastenal in a report on Thursday, March 5th. Finally, UBS Group reissued a “neutral” rating and issued a $46.00 price target on shares of Fastenal in a research report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.83.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $46.59 on Thursday. Fastenal Company has a twelve month low of $35.31 and a twelve month high of $50.63. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $53.50 billion, a P/E ratio of 42.35, a P/E/G ratio of 2.95 and a beta of 0.88. The stock’s 50-day simple moving average is $44.71 and its two-hundred day simple moving average is $44.21.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the previous year, the company earned $0.46 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts anticipate that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

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

Fastenal 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.