Bokf Na Has $4.14 Million Stock Position in Fastenal Company $FAST

Bokf Na lowered its holdings in shares of Fastenal Company (NASDAQ:FAST) by 13.5% in the 4th quarter, HoldingsChannel reports. The firm owned 103,201 shares of the company’s stock after selling 16,168 shares during the period. Bokf Na’s holdings in Fastenal were worth $4,141,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Fastenal by 1.6% during the third quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock worth $7,430,322,000 after purchasing an additional 2,346,045 shares during the period. Invesco Ltd. grew its stake in Fastenal by 14.0% during the third quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock worth $893,307,000 after purchasing an additional 2,242,116 shares during the period. Bank of America Corp DE grew its stake in Fastenal by 1.1% during the third quarter. Bank of America Corp DE now owns 15,604,974 shares of the company’s stock worth $765,268,000 after purchasing an additional 173,581 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Fastenal by 0.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,276,145 shares of the company’s stock worth $405,860,000 after purchasing an additional 26,702 shares during the period. Finally, Franklin Resources Inc. grew its stake in Fastenal by 1.2% during the third quarter. Franklin Resources Inc. now owns 7,387,472 shares of the company’s stock worth $362,282,000 after purchasing an additional 90,095 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

FAST has been the subject of several recent analyst reports. Benchmark reaffirmed a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Barclays increased their price target on Fastenal from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Raymond James Financial set a $48.00 price target on Fastenal in a report on Thursday, March 5th. Wolfe Research cut their price target on Fastenal from $46.00 to $45.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Finally, Robert W. Baird cut their price target on Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average price target of $49.77.

Insider Activity at Fastenal

In other news, Director Reyne K. Wisecup sold 36,920 shares of the 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 directly 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 document filed with the SEC, which is available through this hyperlink. 0.28% of the stock is currently owned by company insiders.

Fastenal Stock Down 0.8%

Shares of NASDAQ:FAST opened at $44.36 on Friday. The firm has a market cap of $50.93 billion, a P/E ratio of 38.91, a PEG ratio of 2.85 and a beta of 0.75. Fastenal Company has a 52-week low of $38.97 and a 52-week high of $50.63. The business’s 50 day simple moving average is $45.63 and its two-hundred day simple moving average is $43.62. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Monday, April 13th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, research analysts forecast that Fastenal Company will post 1.23 EPS for the current fiscal year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, April 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. Fastenal’s dividend payout ratio is 84.21%.

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.