Taylor Frigon Capital Management LLC reduced its holdings in Fastenal (NASDAQ:FAST) by 39.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,079 shares of the company’s stock after selling 14,895 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Fastenal were worth $853,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of FAST. Executive Wealth Management LLC increased its position in Fastenal by 120.7% in the 3rd quarter. Executive Wealth Management LLC now owns 1,249 shares of the company’s stock valued at $40,000 after acquiring an additional 683 shares during the period. CSat Investment Advisory L.P. increased its position in shares of Fastenal by 504.9% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,621 shares of the company’s stock valued at $53,000 after purchasing an additional 1,353 shares during the period. AdvisorNet Financial Inc increased its position in shares of Fastenal by 19.0% during the 3rd quarter. AdvisorNet Financial Inc now owns 1,814 shares of the company’s stock valued at $59,000 after purchasing an additional 290 shares during the period. Resources Management Corp CT ADV acquired a new position in shares of Fastenal during the 3rd quarter valued at $59,000. Finally, Simon Quick Advisors LLC increased its position in shares of Fastenal by 133.4% during the 4th quarter. Simon Quick Advisors LLC now owns 1,620 shares of the company’s stock valued at $60,000 after purchasing an additional 926 shares during the period. Hedge funds and other institutional investors own 84.45% of the company’s stock.
Shares of NASDAQ FAST traded down $0.98 during mid-day trading on Friday, reaching $35.08. The company had a trading volume of 92,294 shares, compared to its average volume of 3,773,397. The company has a current ratio of 4.51, a quick ratio of 2.00 and a debt-to-equity ratio of 0.18. The stock has a market cap of $20.61 billion, a PE ratio of 25.40, a P/E/G ratio of 1.78 and a beta of 1.25. The company has a 50-day moving average price of $36.64 and a two-hundred day moving average price of $33.85. Fastenal has a 1-year low of $28.38 and a 1-year high of $37.94.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.85%. This is a boost from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, January 30th. Fastenal’s payout ratio is presently 63.77%.
FAST has been the topic of several research analyst reports. Argus lifted their price target on Fastenal to $41.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. BidaskClub cut Fastenal from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Raymond James cut Fastenal from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 14th. Robert W. Baird lifted their price target on Fastenal from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Jefferies Financial Group initiated coverage on Fastenal in a research report on Friday, November 22nd. They set a “buy” rating and a $377.00 price target on the stock. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Fastenal has a consensus rating of “Hold” and an average price target of $74.11.
In related news, EVP Charles S. Miller sold 4,376 shares of Fastenal stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $35.98, for a total value of $157,448.48. Following the transaction, the executive vice president now directly owns 11,876 shares in the company, valued at approximately $427,298.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sheryl Ann Lisowski sold 20,578 shares of Fastenal stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $36.94, for a total value of $760,151.32. Following the completion of the transaction, the chief accounting officer now owns 17,266 shares in the company, valued at $637,806.04. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.
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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