Metis Global Partners LLC Sells 1,290 Shares of Fastenal (NASDAQ:FAST)

Metis Global Partners LLC trimmed its holdings in Fastenal (NASDAQ:FAST) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,045 shares of the company’s stock after selling 1,290 shares during the period. Metis Global Partners LLC’s holdings in Fastenal were worth $1,752,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FAST. Essex Financial Services Inc. boosted its stake in shares of Fastenal by 1.8% in the fourth quarter. Essex Financial Services Inc. now owns 8,539 shares of the company’s stock valued at $553,000 after buying an additional 148 shares during the period. Hartford Financial Management Inc. increased its position in shares of Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after purchasing an additional 153 shares during the period. Empirical Asset Management LLC raised its stake in Fastenal by 2.4% in the fourth quarter. Empirical Asset Management LLC now owns 7,212 shares of the company’s stock valued at $467,000 after purchasing an additional 171 shares in the last quarter. Berkshire Bank lifted its position in Fastenal by 3.1% during the third quarter. Berkshire Bank now owns 5,777 shares of the company’s stock worth $316,000 after purchasing an additional 174 shares during the period. Finally, OmniStar Financial Group Inc. increased its holdings in Fastenal by 1.1% in the 3rd quarter. OmniStar Financial Group Inc. now owns 15,960 shares of the company’s stock valued at $873,000 after buying an additional 174 shares during the period. 81.38% of the stock is owned by institutional investors.

Insider Transactions at Fastenal

In other news, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel L. Johnson acquired 3,350 shares of Fastenal stock in a transaction that occurred on Wednesday, April 17th. The stock was acquired at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the purchase, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FAST has been the subject of a number of research reports. HSBC increased their price target on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Loop Capital lowered their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Stifel Nicolaus boosted their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Robert W. Baird decreased their price objective on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $67.33.

Fastenal Stock Performance

Shares of FAST stock opened at $66.41 on Wednesday. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. Fastenal has a 52 week low of $52.86 and a 52 week high of $79.04. The firm has a 50 day moving average of $72.87 and a 200-day moving average of $67.29. The company has a market cap of $38.02 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 3.58 and a beta of 1.07.

Fastenal (NASDAQ:FAST) last announced its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) 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 analysts’ expectations of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. On average, equities analysts forecast that Fastenal will post 2.12 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s dividend payout ratio is currently 77.23%.

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.