Meag Munich Ergo Kapitalanlagegesellschaft MBH lessened its holdings in Fastenal (NASDAQ:FAST) by 93.8% during the 4th quarter, Holdings Channel reports. The firm owned 13,792 shares of the company’s stock after selling 210,162 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Fastenal were worth $765,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. bought a new position in shares of Fastenal in the 3rd quarter valued at about $114,000. Cable Hill Partners LLC bought a new position in shares of Fastenal in the 3rd quarter valued at about $126,000. Krilogy Financial LLC boosted its stake in shares of 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 last quarter. QS Investors LLC boosted its stake in shares of 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 last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of Fastenal by 14.1% in the 2nd quarter. Advisory Services Network LLC now owns 4,223 shares of the company’s stock valued at $184,000 after purchasing an additional 522 shares during the last quarter. 84.64% of the stock is currently owned by institutional investors.
Fastenal (NASDAQ FAST) opened at $54.50 on Friday. The company has a quick ratio of 2.40, a current ratio of 5.51 and a debt-to-equity ratio of 0.20. Fastenal has a one year low of $39.79 and a one year high of $57.81. The firm has a market cap of $15,806.04 and a P/E ratio of 28.48.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Wednesday, January 31st will be paid a $0.37 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $1.48 dividend on an annualized basis and a yield of 2.72%. This is a positive change from Fastenal’s previous quarterly dividend of $0.32. Fastenal’s payout ratio is presently 73.63%.
In other news, insider Gary A. Polipnick sold 2,634 shares of Fastenal stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $53.45, for a total value of $140,787.30. Following the sale, the insider now directly owns 59,323 shares in the company, valued at $3,170,814.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Leland J. Hein sold 10,000 shares of Fastenal stock in a transaction that occurred on 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 sale, the vice president now owns 20,258 shares in the company, valued at $972,384. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,996 shares of company stock worth $4,544,944. Insiders own 0.55% of the company’s stock.
FAST has been the topic of several recent analyst reports. Robert W. Baird reissued a “buy” rating on shares of Fastenal in a research note on Wednesday, January 17th. Stephens set a $54.00 price objective on shares of Fastenal and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Credit Suisse Group raised shares of Fastenal to a “buy” rating and set a $61.00 price objective on the stock in a research note on Thursday, January 18th. BMO Capital Markets reissued a “hold” rating and set a $57.00 price objective on shares of Fastenal in a research note on Tuesday, January 9th. Finally, KeyCorp reissued a “buy” rating and set a $52.00 price objective on shares of Fastenal in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $53.29.
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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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