Fastenal (NASDAQ:FAST) Shares Acquired by Catalina Capital Group LLC

Catalina Capital Group LLC lifted its position in shares of Fastenal (NASDAQ:FAST) by 4.5% during the third quarter, HoldingsChannel reports. The fund owned 3,359 shares of the company’s stock after acquiring an additional 146 shares during the quarter. Catalina Capital Group LLC’s holdings in Fastenal were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Central Valley Advisors LLC purchased a new stake in Fastenal during the second quarter worth about $28,000. Triad Wealth Partners LLC purchased a new stake in Fastenal during the second quarter worth about $32,000. Crewe Advisors LLC boosted its holdings in Fastenal by 528.4% during the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock worth $32,000 after buying an additional 428 shares in the last quarter. Moisand Fitzgerald Tamayo LLC boosted its holdings in Fastenal by 1,019.0% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after buying an additional 428 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new stake in Fastenal during the second quarter worth about $35,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Performance

NASDAQ:FAST opened at $83.57 on Thursday. The firm has a 50 day simple moving average of $72.67 and a 200-day simple moving average of $68.48. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. The firm has a market cap of $47.88 billion, a PE ratio of 41.58, a P/E/G ratio of 4.58 and a beta of 0.99. Fastenal has a 1-year low of $58.28 and a 1-year high of $83.80.

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

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.87%. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FAST shares. Bank of America started coverage on shares of Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective on the stock. Morgan Stanley upped their price target on shares of Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Robert W. Baird upped their price target on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, October 14th. JPMorgan Chase & Co. upped their price target on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Stephens upped their price target on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $73.33.

Insider Buying and Selling

In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction dated 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 owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fastenal news, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,929,734.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was 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 owns 286,018 shares of the company’s stock, valued at approximately $19,489,266.52. The trade was 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 valued at $13,874,979 in the last quarter. Company insiders own 0.41% of the company’s stock.

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.