Fastenal (NASDAQ:FAST) Stock Holdings Decreased by Tandem Investment Advisors Inc.

Tandem Investment Advisors Inc. reduced its position in Fastenal (NASDAQ:FAST) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,267 shares of the company’s stock after selling 1,461 shares during the period. Tandem Investment Advisors Inc.’s holdings in Fastenal were worth $1,118,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in FAST. Hartford Financial Management Inc. increased its position in shares of Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after acquiring an additional 153 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of Fastenal in the fourth quarter worth approximately $33,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Fastenal in the fourth quarter worth approximately $35,000. Sunbelt Securities Inc. increased its position in shares of Fastenal by 131.7% in the second quarter. Sunbelt Securities Inc. now owns 600 shares of the company’s stock worth $35,000 after acquiring an additional 341 shares in the last quarter. Finally, Quarry LP increased its position in shares of Fastenal by 184.9% in the first quarter. Quarry LP now owns 678 shares of the company’s stock worth $37,000 after acquiring an additional 440 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Down 0.5 %

NASDAQ FAST traded down $0.31 during trading on Wednesday, reaching $68.48. The company’s stock had a trading volume of 4,217,193 shares, compared to its average volume of 4,074,912. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $39.19 billion, a PE ratio of 33.65, a PEG ratio of 3.62 and a beta of 1.05. The business has a 50-day moving average price of $73.72 and a 200-day moving average price of $66.18. Fastenal has a 1-year low of $52.28 and a 1-year high of $79.04.

Fastenal (NASDAQ:FAST) last posted its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. Fastenal’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share. On average, research analysts forecast that Fastenal will post 2.13 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Insider Buying and Selling at Fastenal

In other Fastenal news, VP Charles S. Miller sold 11,076 shares of Fastenal stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Charles S. Miller sold 11,076 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffery Michael Watts sold 19,420 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total transaction of $1,364,255.00. Following the completion of the sale, the insider now owns 5,940 shares of the company’s stock, valued at $417,285. The disclosure for this sale can be found here. Insiders sold 105,682 shares of company stock worth $7,375,853 over the last ninety days. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. HSBC lifted their target price on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday. Stifel Nicolaus boosted their price objective on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Loop Capital lowered their price objective on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday. Finally, Robert W. Baird lowered their price objective on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Fastenal presently has an average rating of “Hold” and a consensus price target of $67.67.

Fastenal 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 that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.