Parthenon LLC Lowers Position in Fastenal (NASDAQ:FAST)

Parthenon LLC decreased its position in shares of Fastenal (NASDAQ:FAST) by 0.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 276,077 shares of the company’s stock after selling 1,505 shares during the period. Fastenal comprises about 2.5% of Parthenon LLC’s holdings, making the stock its 11th largest holding. Parthenon LLC’s holdings in Fastenal were worth $17,882,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Savant Capital LLC boosted its stake in Fastenal by 5.7% during the fourth quarter. Savant Capital LLC now owns 4,935 shares of the company’s stock worth $320,000 after acquiring an additional 265 shares in the last quarter. Certuity LLC lifted its holdings in shares of Fastenal by 68.0% during the fourth quarter. Certuity LLC now owns 6,793 shares of the company’s stock valued at $440,000 after purchasing an additional 2,750 shares during the last quarter. Norden Group LLC boosted its position in shares of Fastenal by 7.9% in the 4th quarter. Norden Group LLC now owns 4,687 shares of the company’s stock worth $304,000 after purchasing an additional 345 shares in the last quarter. Penobscot Investment Management Company Inc. increased its position in Fastenal by 21.1% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 13,200 shares of the company’s stock valued at $855,000 after buying an additional 2,300 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its position in Fastenal by 89.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 11,399 shares of the company’s stock valued at $738,000 after buying an additional 5,372 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insider Activity at Fastenal

In other Fastenal news, EVP Anthony Paul Broersma sold 5,586 shares of Fastenal stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total transaction of $387,333.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Fastenal news, EVP Anthony Paul Broersma sold 5,586 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total transaction of $387,333.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffery Michael Watts sold 19,420 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total value of $1,364,255.00. Following the completion of the transaction, the insider now owns 5,940 shares of the company’s stock, valued at $417,285. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,082 shares of company stock worth $2,584,060. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FAST shares. HSBC increased their target price on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Robert W. Baird cut their price objective on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Stifel Nicolaus lifted their target price on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Loop Capital cut their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $67.67.

Fastenal Stock Performance

NASDAQ:FAST traded down $0.54 during mid-day trading on Tuesday, reaching $67.94. The company’s stock had a trading volume of 3,076,391 shares, compared to its average volume of 3,975,171. The firm’s fifty day moving average price is $73.33 and its two-hundred day moving average price is $66.99. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. The stock has a market cap of $38.90 billion, a P/E ratio of 33.63, a PEG ratio of 3.57 and a beta of 1.05. Fastenal has a 12-month low of $52.85 and a 12-month high of $79.04.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. On average, equities analysts forecast that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s payout ratio is 77.23%.

Fastenal 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.