Sei Investments Co. Has $21.34 Million Position in Fastenal Company (NASDAQ:FAST)

Sei Investments Co. lowered its stake in shares of Fastenal Company (NASDAQ:FAST) by 18.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 291,058 shares of the company’s stock after selling 64,688 shares during the period. Sei Investments Co. owned about 0.05% of Fastenal worth $21,337,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FAST. Horizon Financial Services LLC boosted its stake in shares of Fastenal by 5,330.0% during the 1st quarter. Horizon Financial Services LLC now owns 543 shares of the company’s stock valued at $42,000 after buying an additional 533 shares during the period. Itau Unibanco Holding S.A. boosted its stake in shares of Fastenal by 481.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 611 shares of the company’s stock valued at $44,000 after buying an additional 506 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Fastenal in the 1st quarter valued at $49,000. TruNorth Capital Management LLC acquired a new stake in shares of Fastenal in the 1st quarter valued at $57,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Fastenal by 5,661.5% in the 1st quarter. Golden State Wealth Management LLC now owns 749 shares of the company’s stock valued at $58,000 after purchasing an additional 736 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of Fastenal stock opened at $49.21 on Thursday. Fastenal Company has a 1-year low of $32.04 and a 1-year high of $49.26. The firm’s 50-day moving average price is $44.27 and its two-hundred day moving average price is $40.73. The stock has a market capitalization of $56.48 billion, a price-to-earnings ratio of 47.32, a P/E/G ratio of 4.41 and a beta of 0.95. The company has a current ratio of 4.22, a quick ratio of 2.12 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last announced its earnings results on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the business earned $0.25 earnings per share. Fastenal’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts predict that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, July 29th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, July 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.8%. Fastenal’s payout ratio is presently 84.62%.

Insider Buying and Selling at Fastenal

In other news, CFO Sheryl Ann Lisowski sold 21,052 shares of the stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $45.21, for a total value of $951,760.92. Following the transaction, the chief financial officer owned 10,192 shares of the company’s stock, valued at $460,780.32. This represents a 67.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffery Michael Watts sold 48,724 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $48.05, for a total transaction of $2,341,188.20. Following the completion of the sale, the insider owned 11,880 shares in the company, valued at approximately $570,834. This trade represents a 80.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,112 shares of company stock worth $6,304,410. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on FAST shares. Baird R W upgraded shares of Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Stifel Nicolaus set a $82.00 target price on shares of Fastenal in a report on Thursday, July 3rd. JPMorgan Chase & Co. lifted their target price on shares of Fastenal from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Loop Capital reiterated a “hold” rating on shares of Fastenal in a report on Tuesday, July 15th. Finally, Wolfe Research reiterated a “positive” rating on shares of Fastenal in a report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Fastenal has a consensus rating of “Hold” and a consensus target price of $46.36.

Fastenal Company Profile

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.