Creative Planning Sells 348 Shares of Fastenal (NASDAQ:FAST)

Creative Planning lessened its position in shares of Fastenal (NASDAQ:FAST – Get Rating) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,930 shares of the company’s stock after selling 348 shares during the period. Creative Planning’s holdings in Fastenal were worth $3,542,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Fastenal by 0.3% during the 2nd quarter. State Street Corp now owns 27,379,888 shares of the company’s stock worth $1,366,804,000 after purchasing an additional 80,379 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Fastenal by 8.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,227,656 shares of the company’s stock worth $548,123,000 after purchasing an additional 681,328 shares in the last quarter. Northern Trust Corp increased its holdings in Fastenal by 0.6% during the 1st quarter. Northern Trust Corp now owns 7,502,384 shares of the company’s stock worth $445,642,000 after purchasing an additional 41,898 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Fastenal by 1.7% during the 2nd quarter. Baird Financial Group Inc. now owns 6,568,882 shares of the company’s stock worth $327,919,000 after purchasing an additional 107,418 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Fastenal by 1.3% during the 1st quarter. Invesco Ltd. now owns 6,220,010 shares of the company’s stock worth $369,467,000 after purchasing an additional 81,645 shares in the last quarter. Institutional investors own 76.99% of the company’s stock.

Fastenal Stock Performance

FAST opened at $49.58 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 3.96 and a debt-to-equity ratio of 0.11. Fastenal has a 12-month low of $43.73 and a 12-month high of $60.74. The business has a 50 day moving average of $49.36 and a 200-day moving average of $49.48. The stock has a market cap of $28.40 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 2.83 and a beta of 1.18.

Fastenal (NASDAQ:FAST – Get Rating) last posted its quarterly earnings results on Thursday, January 19th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Fastenal had a return on equity of 34.38% and a net margin of 15.57%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the business earned $0.40 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts expect that Fastenal will post 1.92 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 2nd. Stockholders of record on Thursday, February 2nd will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Wednesday, February 1st. This is a boost from Fastenal’s previous quarterly dividend of $0.31. Fastenal’s dividend payout ratio (DPR) is currently 65.26%.

Insider Buying and Selling

In related news, insider Jeffery Michael Watts purchased 5,940 shares of the stock in a transaction on Tuesday, November 29th. The shares were purchased at an average cost of $50.58 per share, with a total value of $300,445.20. Following the acquisition, the insider now directly owns 5,940 shares in the company, valued at $300,445.20. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FAST. Morgan Stanley decreased their price objective on Fastenal from $43.00 to $42.00 and set an “underweight” rating for the company in a report on Friday, January 6th. StockNews.com downgraded Fastenal from a “buy” rating to a “hold” rating in a research note on Saturday, October 15th. Loop Capital lowered their price target on Fastenal from $54.00 to $53.00 and set a “hold” rating on the stock in a research report on Monday. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $50.00 price objective on shares of Fastenal in a report on Monday, October 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Fastenal presently has an average rating of “Hold” and a consensus price target of $51.14.

Fastenal Profile

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Fastenal Co engages in the provision of fasteners, tools, and supplies which can help manufacture products, build structures, protect personnel, and maintain facilities and equipment. Its products include cutting tools and metalworking, fasteners, material handling, storage and packaging power, transmission and motors, tools and equipment, electricals, abrasives, hydraulics and pneumatics, plumbing, lifting and rigging, raw materials, fleet and automotive, welding, office products and furniture, and janitorial supplies.