Blair William & Co. IL Sells 104,838 Shares of Fastenal (NASDAQ:FAST)

Blair William & Co. IL lessened its position in shares of Fastenal (NASDAQ:FAST) by 2.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,478,060 shares of the company’s stock after selling 104,838 shares during the period. Blair William & Co. IL owned approximately 0.61% of Fastenal worth $180,859,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of FAST. Kentucky Retirement Systems bought a new stake in shares of Fastenal in the second quarter valued at approximately $1,739,000. Bank of Montreal Can boosted its stake in shares of Fastenal by 98.2% in the second quarter. Bank of Montreal Can now owns 1,473,947 shares of the company’s stock valued at $76,305,000 after buying an additional 730,192 shares during the period. CIBC World Markets Inc. boosted its stake in shares of Fastenal by 21.4% in the second quarter. CIBC World Markets Inc. now owns 41,686 shares of the company’s stock valued at $2,168,000 after buying an additional 7,349 shares during the period. Banque Pictet & Cie SA raised its position in Fastenal by 1.4% during the second quarter. Banque Pictet & Cie SA now owns 128,895 shares of the company’s stock valued at $6,703,000 after purchasing an additional 1,724 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in Fastenal during the second quarter valued at approximately $293,000. Institutional investors own 77.47% of the company’s stock.

Several research analysts have commented on the stock. Stephens boosted their price objective on shares of Fastenal from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, August 23rd. Robert W. Baird upped their price target on shares of Fastenal from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, July 14th. Morgan Stanley downgraded shares of Fastenal from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $53.00 to $48.00 in a report on Tuesday, June 15th. They noted that the move was a valuation call. Finally, Loop Capital initiated coverage on shares of Fastenal in a research note on Tuesday, August 3rd. They issued a “hold” rating and a $52.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Fastenal presently has an average rating of “Hold” and an average target price of $54.29.

Shares of Fastenal stock traded down $0.64 during trading on Monday, hitting $53.46. The company’s stock had a trading volume of 33,628 shares, compared to its average volume of 3,102,322. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.16 and a quick ratio of 2.12. Fastenal has a 52 week low of $42.57 and a 52 week high of $56.39. The stock has a market cap of $30.73 billion, a price-to-earnings ratio of 35.72, a price-to-earnings-growth ratio of 3.83 and a beta of 1.28. The stock has a 50-day moving average price of $54.64 and a two-hundred day moving average price of $52.68.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Monday, July 12th. The company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Fastenal had a return on equity of 30.76% and a net margin of 15.24%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company posted $0.42 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, equities analysts predict that Fastenal will post 1.56 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 24th. Investors of record on Tuesday, July 27th were given a dividend of $0.28 per share. The ex-dividend date was Monday, July 26th. This represents a $1.12 annualized dividend and a dividend yield of 2.10%. Fastenal’s payout ratio is 75.17%.

In related news, VP Charles S. Miller sold 35,141 shares of the company’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $55.10, for a total transaction of $1,936,269.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel L. Johnson purchased 1,000 shares of the business’s stock in a transaction on Wednesday, August 4th. The stock was purchased at an average price of $55.48 per share, for a total transaction of $55,480.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 2,265 shares of company stock worth $123,014 and have sold 142,089 shares worth $7,910,739. 0.56% of the stock is owned by corporate insiders.

About Fastenal

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

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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