Fastenal (NASDAQ:FAST) Stake Reduced by Inspire Investing LLC

Inspire Investing LLC decreased its holdings in shares of Fastenal (NASDAQ:FAST) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,160 shares of the company’s stock after selling 523 shares during the period. Inspire Investing LLC’s holdings in Fastenal were worth $1,226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in FAST. MCF Advisors LLC boosted its holdings in Fastenal by 2,172.2% during the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after buying an additional 391 shares in the last quarter. Central Valley Advisors LLC bought a new stake in shares of Fastenal during the 2nd quarter worth $28,000. Moisand Fitzgerald Tamayo LLC grew its holdings in shares of Fastenal by 1,019.0% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after acquiring an additional 428 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Fastenal during the first quarter worth $39,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Fastenal during the second quarter valued at $32,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Activity

In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,929,734.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Daniel L. Florness sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,929,734.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,489,266.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Fastenal Stock Performance

Shares of NASDAQ FAST opened at $76.82 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. Fastenal has a one year low of $56.41 and a one year high of $79.04. The business’s 50-day moving average price is $68.77 and its two-hundred day moving average price is $67.89. The company has a market capitalization of $43.98 billion, a P/E ratio of 38.22, a price-to-earnings-growth ratio of 4.13 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 EPS. Analysts anticipate that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 annualized dividend and a dividend yield of 2.03%. Fastenal’s dividend payout ratio (DPR) is 77.61%.

Analyst Ratings Changes

Several research firms have issued reports on FAST. Bank of America started coverage on Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective on the stock. Morgan Stanley initiated coverage on shares of Fastenal in a research report on Friday, September 6th. They issued an “equal weight” rating and a $72.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday. Stephens reaffirmed an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a research report on Monday, July 15th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $80.00 price target (down from $85.00) on shares of Fastenal in a research report on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $68.89.

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.