Fastenal (FAST) Shares Sold by RiverPark Advisors LLC

RiverPark Advisors LLC cut its position in Fastenal (NASDAQ:FAST) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 756,500 shares of the company’s stock after selling 15,500 shares during the quarter. Fastenal makes up about 4.5% of RiverPark Advisors LLC’s holdings, making the stock its 7th biggest position. RiverPark Advisors LLC owned about 0.26% of Fastenal worth $34,481,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Commonwealth Bank of Australia grew its stake in Fastenal by 44.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock valued at $104,000 after buying an additional 753 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Fastenal in the 3rd quarter valued at $114,000. Cable Hill Partners LLC bought a new stake in Fastenal in the 3rd quarter valued at $126,000. Krilogy Financial LLC boosted its holdings in Fastenal by 2.0% in the 2nd quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock valued at $154,000 after purchasing an additional 70 shares during the period. Finally, QS Investors LLC boosted its holdings in Fastenal by 1.6% in the 2nd quarter. QS Investors LLC now owns 4,051 shares of the company’s stock valued at $176,000 after purchasing an additional 63 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

In other news, VP Leland J. Hein sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $48.00, for a total transaction of $480,000.00. Following the completion of the transaction, the vice president now directly owns 20,258 shares of the company’s stock, valued at approximately $972,384. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Terry Modock Owen sold 30,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $48.02, for a total transaction of $1,440,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 80,112 shares of company stock valued at $3,879,832 over the last ninety days. 0.55% of the stock is owned by insiders.

FAST has been the subject of a number of research reports. BidaskClub downgraded shares of Fastenal from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. BMO Capital Markets reissued a “hold” rating and issued a $46.00 price target on shares of Fastenal in a report on Monday, August 21st. Stephens set a $54.00 price target on shares of Fastenal and gave the company a “buy” rating in a report on Wednesday, October 11th. Morgan Stanley reissued an “equal weight” rating and issued a $46.00 price target (up from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $46.00 price target on shares of Fastenal in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $50.80.

Fastenal (NASDAQ FAST) opened at $53.43 on Thursday. The company has a market cap of $15,771.99, a PE ratio of 29.19, a PEG ratio of 2.03 and a beta of 1.08. Fastenal has a 1-year low of $39.79 and a 1-year high of $55.35. The company has a current ratio of 5.36, a quick ratio of 2.45 and a debt-to-equity ratio of 0.21.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS. research analysts anticipate that Fastenal will post 1.93 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, October 25th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Tuesday, October 24th. Fastenal’s payout ratio is 68.09%.

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Fastenal Company Profile

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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