Armstrong Henry H Associates Inc. Lowers Position in Fastenal (FAST)

Armstrong Henry H Associates Inc. trimmed its position in shares of Fastenal (NASDAQ:FAST) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,640 shares of the company’s stock after selling 225 shares during the period. Fastenal makes up approximately 0.4% of Armstrong Henry H Associates Inc.’s holdings, making the stock its 21st largest holding. Armstrong Henry H Associates Inc.’s holdings in Fastenal were worth $2,871,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Spectrum Asset Management Inc. NB CA bought a new stake in shares of Fastenal in the 1st quarter valued at approximately $1,035,000. Retirement Systems of Alabama grew its stake in shares of Fastenal by 0.7% in the 1st quarter. Retirement Systems of Alabama now owns 133,248 shares of the company’s stock valued at $8,569,000 after purchasing an additional 918 shares during the period. American National Bank bought a new stake in shares of Fastenal in the 1st quarter valued at approximately $880,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Fastenal in the 1st quarter valued at approximately $684,000. Finally, Gofen & Glossberg LLC IL bought a new stake in shares of Fastenal in the 1st quarter valued at approximately $458,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Shares of FAST stock traded up $0.57 during trading hours on Tuesday, reaching $69.34. The company had a trading volume of 74,768 shares, compared to its average volume of 1,891,784. The company has a quick ratio of 1.97, a current ratio of 4.31 and a debt-to-equity ratio of 0.20. The company has a market cap of $19.76 billion, a P/E ratio of 26.41, a price-to-earnings-growth ratio of 1.53 and a beta of 1.17. Fastenal has a 1-year low of $47.37 and a 1-year high of $69.88.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Thursday, April 11th. The company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Fastenal had a return on equity of 33.52% and a net margin of 15.16%. During the same quarter in the prior year, the business posted $0.61 EPS. Research analysts anticipate that Fastenal will post 2.85 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, April 24th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Tuesday, April 23rd. Fastenal’s dividend payout ratio (DPR) is currently 65.40%.

In other news, insider Leland J. Hein sold 22,500 shares of the stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $63.13, for a total value of $1,420,425.00. Following the transaction, the insider now owns 30,111 shares of the company’s stock, valued at approximately $1,900,907.43. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Leland J. Hein sold 39,583 shares of the company’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $62.86, for a total transaction of $2,488,187.38. Following the completion of the sale, the insider now owns 22,611 shares of the company’s stock, valued at approximately $1,421,327.46. The disclosure for this sale can be found here. In the last three months, insiders sold 87,083 shares of company stock worth $5,458,662. 0.62% of the stock is currently owned by company insiders.

FAST has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on Fastenal from $55.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday. Buckingham Research set a $65.00 target price on Fastenal and gave the stock a “hold” rating in a report on Friday. Zacks Investment Research downgraded Fastenal from a “buy” rating to a “sell” rating in a report on Thursday, January 3rd. Raymond James set a $78.00 target price on Fastenal and gave the stock a “buy” rating in a report on Friday. Finally, BidaskClub raised Fastenal from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 24th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Fastenal presently has a consensus rating of “Hold” and a consensus target price of $61.70.

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Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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