Mn Services Vermogensbeheer B.V. Lowers Holdings in Fastenal (NASDAQ:FAST)

Mn Services Vermogensbeheer B.V. trimmed its stake in shares of Fastenal (NASDAQ:FAST) by 2.4% during the 3rd quarter, Holdings Channel reports. The fund owned 219,156 shares of the company’s stock after selling 5,400 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Fastenal were worth $15,652,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Fastenal by 5.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock worth $186,000 after purchasing an additional 143 shares during the period. Compass Ion Advisors LLC raised its position in shares of Fastenal by 1.5% in the third quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock worth $709,000 after acquiring an additional 146 shares during the period. Penobscot Investment Management Company Inc. boosted its stake in shares of Fastenal by 1.1% during the 1st quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock worth $1,030,000 after acquiring an additional 150 shares in the last quarter. Sara Bay Financial grew its position in shares of Fastenal by 1.3% during the 2nd quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock valued at $746,000 after acquiring an additional 155 shares during the period. Finally, Trueblood Wealth Management LLC raised its holdings in Fastenal by 1.4% in the 2nd quarter. Trueblood Wealth Management LLC now owns 11,314 shares of the company’s stock worth $711,000 after purchasing an additional 156 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Fastenal

In related news, Director Rita J. Heise sold 10,888 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $77.67, for a total value of $845,670.96. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,553,400. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Fastenal news, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the sale, the chief executive officer now owns 286,018 shares in the company, valued at $19,489,266.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rita J. Heise sold 10,888 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total value of $845,670.96. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,553,400. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 190,261 shares of company stock worth $13,874,979 in the last quarter. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

FAST has been the topic of several research analyst reports. Jefferies Financial Group dropped their price objective on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Stifel Nicolaus reissued a “buy” rating and issued a $86.00 price target (up previously from $80.00) on shares of Fastenal in a report on Monday, October 14th. Stephens upped their price objective on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. boosted their target price on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Bank of America initiated coverage on shares of Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Fastenal presently has an average rating of “Hold” and a consensus target price of $73.33.

Fastenal Stock Performance

FAST opened at $77.82 on Tuesday. The firm has a market capitalization of $44.58 billion, a PE ratio of 38.72, a PEG ratio of 4.58 and a beta of 0.99. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. Fastenal has a twelve month low of $58.23 and a twelve month high of $79.04. The firm’s 50-day moving average price is $72.14 and its 200 day moving average price is $68.30.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period in the prior year, the business earned $0.52 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts expect that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, October 25th. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

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.