STF Management LP Has $583,000 Position in Fastenal (NASDAQ:FAST)

STF Management LP trimmed its position in shares of Fastenal (NASDAQ:FAST) by 10.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,168 shares of the company’s stock after selling 982 shares during the quarter. STF Management LP’s holdings in Fastenal were worth $583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Fastenal in the third quarter valued at $25,000. Knuff & Co LLC bought a new position in Fastenal during the 3rd quarter worth approximately $27,000. Central Valley Advisors LLC acquired a new position in shares of Fastenal in the 2nd quarter worth approximately $28,000. Moisand Fitzgerald Tamayo LLC boosted its stake 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 valued at $34,000 after purchasing an additional 428 shares during the last quarter. Finally, LRI Investments LLC bought a new position in Fastenal during the first quarter worth $39,000. 81.38% of the stock is currently owned by institutional investors.

Fastenal Price Performance

Shares of Fastenal stock opened at $82.44 on Friday. The stock’s fifty day moving average is $75.99 and its 200 day moving average is $69.60. The stock has a market cap of $47.23 billion, a P/E ratio of 41.01, a P/E/G ratio of 4.78 and a beta of 0.99. Fastenal has a one year low of $59.47 and a one year high of $84.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40.

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

Fastenal Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.89%. The ex-dividend date is Friday, October 25th. Fastenal’s payout ratio is currently 77.61%.

Insider Activity at Fastenal

In related news, VP John Lewis Soderberg sold 488 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel L. Johnson sold 8,474 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total value of $706,392.64. Following the sale, the director now owns 10,595 shares in the company, valued at $883,199.20. The trade was a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,289 shares of company stock worth $16,123,438 in the last quarter. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $86.00 price target (up previously from $80.00) on shares of Fastenal in a research report on Monday, October 14th. JPMorgan Chase & Co. raised their target price on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Bank of America initiated coverage on shares of Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 target price for the company. UBS Group assumed coverage on shares of Fastenal in a research note on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target for the company. Finally, Morgan Stanley increased their price objective on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $74.80.

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.