Fastenal (NASDAQ:FAST) Shares Acquired by Everence Capital Management Inc.

Everence Capital Management Inc. increased its stake in shares of Fastenal (NASDAQ:FAST) by 63.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 15,990 shares of the company’s stock after acquiring an additional 6,190 shares during the period. Everence Capital Management Inc.’s holdings in Fastenal were worth $1,036,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hartford Financial Management Inc. raised its position in shares of Fastenal by 46.9% in the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after purchasing an additional 153 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Fastenal in the fourth quarter worth $35,000. Sunbelt Securities Inc. grew its stake in shares of Fastenal by 131.7% in the second quarter. Sunbelt Securities Inc. now owns 600 shares of the company’s stock worth $35,000 after purchasing an additional 341 shares in the last quarter. Quarry LP grew its stake in shares of Fastenal by 184.9% in the first quarter. Quarry LP now owns 678 shares of the company’s stock worth $37,000 after purchasing an additional 440 shares in the last quarter. Finally, Resurgent Financial Advisors LLC bought a new position in shares of Fastenal in the fourth quarter worth $33,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Trading Up 0.3 %

Shares of NASDAQ FAST opened at $69.01 on Wednesday. Fastenal has a 12 month low of $52.28 and a 12 month high of $79.04. The company has a market cap of $39.49 billion, a price-to-earnings ratio of 34.05, a P/E/G ratio of 3.62 and a beta of 1.05. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $73.72 and a 200-day simple moving average of $66.18.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. Sell-side analysts predict that Fastenal will post 2.13 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.26%. The ex-dividend date is Wednesday, April 24th. Fastenal’s payout ratio is 77.23%.

Wall Street Analyst Weigh In

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

Insider Activity at Fastenal

In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.16, for a total value of $832,472.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Fastenal news, Director Reyne K. Wisecup sold 34,042 shares of the company’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $68.48, for a total value of $2,331,196.16. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,369,600. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.16, for a total value of $832,472.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 105,682 shares of company stock valued at $7,375,853. Company insiders own 0.41% of the company’s stock.

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.