Fastenal (NASDAQ:FAST) Shares Sold by State Street Corp

State Street Corp lessened its holdings in shares of Fastenal (NASDAQ:FAST) by 3.3% in the third quarter, HoldingsChannel reports. The fund owned 27,204,152 shares of the company’s stock after selling 921,980 shares during the period. State Street Corp’s holdings in Fastenal were worth $1,226,635,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in FAST. AlphaStar Capital Management LLC raised its stake in shares of Fastenal by 3.6% in the 2nd quarter. AlphaStar Capital Management LLC now owns 11,885 shares of the company’s stock worth $523,000 after buying an additional 414 shares in the last quarter. Norway Savings Bank bought a new stake in shares of Fastenal in the 3rd quarter worth $36,000. FMR LLC raised its stake in shares of Fastenal by 72.5% in the 2nd quarter. FMR LLC now owns 1,627,880 shares of the company’s stock worth $69,738,000 after buying an additional 684,114 shares in the last quarter. Algert Global LLC raised its stake in shares of Fastenal by 76.7% in the 2nd quarter. Algert Global LLC now owns 47,824 shares of the company’s stock worth $2,049,000 after buying an additional 20,758 shares in the last quarter. Finally, Teza Capital Management LLC bought a new stake in shares of Fastenal in the 2nd quarter worth $254,000. Institutional investors own 77.18% of the company’s stock.

NASDAQ:FAST opened at $47.30 on Friday. The firm has a market capitalization of $27.15 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 3.52 and a beta of 1.21. Fastenal has a 1-year low of $26.72 and a 1-year high of $49.86. The company has a current ratio of 4.39, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average price is $45.63 and its 200 day moving average price is $44.24.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Sunday, October 18th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. Fastenal had a return on equity of 30.63% and a net margin of 15.12%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the firm earned $0.37 earnings per share. Fastenal’s quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts forecast that Fastenal will post 1.47 earnings per share for the current year.

The company also recently announced a special dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Wednesday, December 2nd will be paid a $0.40 dividend. Fastenal’s dividend payout ratio (DPR) is currently 72.46%.

In other Fastenal news, VP Terry Modock Owen sold 1,250 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $49.53, for a total value of $61,912.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Hsenghung Sam Hsu bought 2,000 shares of the stock in a transaction on Monday, October 19th. The stock was purchased at an average price of $44.75 per share, for a total transaction of $89,500.00. Following the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at $44,750. The disclosure for this purchase can be found here. Insiders acquired 4,100 shares of company stock worth $183,522 in the last 90 days. Corporate insiders own 0.57% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Raymond James lowered Fastenal from a “market perform” rating to an “underperform” rating in a research report on Friday, September 4th. Deutsche Bank Aktiengesellschaft cut their target price on Fastenal from $54.00 to $52.00 in a research report on Wednesday, October 14th. BidaskClub lowered Fastenal from a “buy” rating to a “hold” rating in a research report on Thursday, September 10th. Zacks Investment Research lowered Fastenal from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Tuesday, August 4th. Finally, ValuEngine lowered Fastenal from a “hold” rating to a “sell” rating in a research report on Thursday, October 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $44.36.

Fastenal Company Profile

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, 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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