IRON Financial LLC Sells 6,375 Shares of Fastenal (NASDAQ:FAST)

IRON Financial LLC trimmed its position in shares of Fastenal (NASDAQ:FAST) by 67.9% during the third quarter, HoldingsChannel reports. The firm owned 3,008 shares of the company’s stock after selling 6,375 shares during the quarter. IRON Financial LLC’s holdings in Fastenal were worth $215,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Central Valley Advisors LLC bought a new stake in shares of Fastenal in the second quarter worth about $28,000. Moisand Fitzgerald Tamayo LLC increased its stake in Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after purchasing an additional 428 shares in the last quarter. LRI Investments LLC acquired a new stake in Fastenal during the 1st quarter worth approximately $39,000. Triad Wealth Partners LLC acquired a new stake in Fastenal during the 2nd quarter worth approximately $32,000. Finally, Crewe Advisors LLC lifted its stake in Fastenal by 528.4% in the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after buying an additional 428 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Stock Down 0.5 %

NASDAQ FAST traded down $0.36 during trading hours on Thursday, hitting $77.98. 629,433 shares of the company traded hands, compared to its average volume of 3,317,792. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. The business’s 50-day moving average is $71.53 and its 200-day moving average is $68.11. The stock has a market capitalization of $44.65 billion, a price-to-earnings ratio of 38.98, a P/E/G ratio of 4.48 and a beta of 1.01. Fastenal has a twelve month low of $58.04 and a twelve month high of $79.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the prior year, the business posted $0.52 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. Sell-side analysts anticipate that Fastenal will post 2.03 earnings per share for the current year.

Fastenal Dividend Announcement

The company also recently declared 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 yield of 2.00%. The ex-dividend date is Friday, October 25th. Fastenal’s dividend payout ratio is currently 77.61%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FAST shares. Jefferies Financial Group dropped their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Morgan Stanley lifted their price target on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $86.00 price objective (up from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Bank of America initiated coverage on Fastenal in a research report on Monday, October 7th. They issued a “buy” rating and a $85.00 target price on the stock. Finally, Stephens boosted their target price on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $73.33.

Insider Buying and Selling at Fastenal

In other news, EVP Anthony Paul Broersma sold 680 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total value of $52,944.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Fastenal news, insider William Joseph Drazkowski sold 16,362 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.65, for a total transaction of $1,270,509.30. Following the completion of the sale, the insider now owns 5,997 shares of the company’s stock, valued at $465,667.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Anthony Paul Broersma sold 680 shares of Fastenal stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The disclosure for this sale can be found here. Insiders sold a total of 179,373 shares of company stock worth $13,029,308 over the last quarter. 0.41% of the stock is currently owned by insiders.

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.