Telemus Capital LLC Has $1.22 Million Stake in Fastenal (NASDAQ:FAST)

Telemus Capital LLC decreased its holdings in Fastenal (NASDAQ:FAST) by 7.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,800 shares of the company’s stock after selling 1,458 shares during the quarter. Telemus Capital LLC’s holdings in Fastenal were worth $1,218,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Hartford Financial Management Inc. increased its holdings in 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 buying an additional 153 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in Fastenal in the 4th quarter valued at about $35,000. Criterion Capital Advisors LLC bought a new position in Fastenal in the 4th quarter valued at about $43,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Fastenal by 77.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock valued at $70,000 after buying an additional 474 shares during the period. Finally, Pacific Center for Financial Services bought a new position in Fastenal in the 3rd quarter valued at about $66,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Trading Down 0.4 %

NASDAQ:FAST traded down $0.30 during mid-day trading on Monday, hitting $67.27. 775,759 shares of the company’s stock were exchanged, compared to its average volume of 4,020,800. The company has a 50 day simple moving average of $73.62 and a 200-day simple moving average of $66.46. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. Fastenal has a fifty-two week low of $52.28 and a fifty-two week high of $79.04. The firm has a market capitalization of $38.52 billion, a P/E ratio of 33.45, a PEG ratio of 3.53 and a beta of 1.05.

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

Fastenal Announces Dividend

The firm also recently announced 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. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.32%. Fastenal’s dividend payout ratio is presently 77.23%.

Insider Transactions at Fastenal

In other news, insider William Joseph Drazkowski sold 11,968 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $69.10, for a total value of $826,988.80. Following the transaction, the insider now owns 5,997 shares in the company, valued at approximately $414,392.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider William Joseph Drazkowski sold 11,968 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $69.10, for a total value of $826,988.80. Following the transaction, the insider now owns 5,997 shares in the company, valued at approximately $414,392.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffery Michael Watts sold 19,420 shares of the business’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 transaction of $1,364,255.00. Following the completion of the transaction, the insider now owns 5,940 shares in the company, valued at approximately $417,285. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,050 shares of company stock worth $3,411,049. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Loop Capital decreased 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. Robert W. Baird decreased their price target on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. HSBC lifted their price target on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday, April 15th. Finally, Stifel Nicolaus lifted their price target on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $67.67.

About Fastenal

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.