Fastenal (NASDAQ:FAST) Shares Sold by Fulcrum Equity Management

Fulcrum Equity Management lowered its holdings in Fastenal (NASDAQ:FAST) by 48.3% in the third quarter, Holdings Channel.com reports. The fund owned 6,219 shares of the company’s stock after selling 5,816 shares during the quarter. Fulcrum Equity Management’s holdings in Fastenal were worth $280,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its stake in shares of Fastenal by 3.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 6,328 shares of the company’s stock worth $271,000 after buying an additional 230 shares during the last quarter. DAVENPORT & Co LLC raised its stake in shares of Fastenal by 1.0% during the 2nd quarter. DAVENPORT & Co LLC now owns 22,793 shares of the company’s stock worth $976,000 after buying an additional 233 shares during the last quarter. CWM LLC raised its stake in shares of Fastenal by 12.2% during the 3rd quarter. CWM LLC now owns 2,145 shares of the company’s stock worth $97,000 after buying an additional 233 shares during the last quarter. CX Institutional raised its stake in shares of Fastenal by 22.6% during the 2nd quarter. CX Institutional now owns 1,444 shares of the company’s stock worth $62,000 after buying an additional 266 shares during the last quarter. Finally, Moloney Securities Asset Management LLC raised its stake in Fastenal by 4.8% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 5,764 shares of the company’s stock valued at $260,000 after purchasing an additional 266 shares during the last quarter. 77.18% of the stock is owned by institutional investors and hedge funds.

In other Fastenal news, insider William Joseph Drazkowski sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $47.51, for a total value of $522,610.00. Following the transaction, the insider now directly owns 16,580 shares of the company’s stock, valued at approximately $787,715.80. 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 business’s stock in a transaction on Monday, October 19th. The stock was acquired at an average cost of $44.75 per share, for a total transaction of $89,500.00. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at $44,750. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 4,100 shares of company stock worth $183,522 and sold 31,750 shares worth $1,520,393. Corporate insiders own 0.57% of the company’s stock.

Several research analysts recently weighed in on the stock. Argus boosted their target price on shares of Fastenal from $43.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. BidaskClub cut Fastenal from a “buy” rating to a “hold” rating in a report on Thursday, September 10th. UBS Group began coverage on Fastenal in a report on Tuesday, September 15th. They issued a “neutral” rating and a $44.00 price target for the company. Stephens began coverage on Fastenal in a report on Thursday, October 15th. They issued an “overweight” rating for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Fastenal from $54.00 to $52.00 in a report on Wednesday, October 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $44.36.

Fastenal stock opened at $43.12 on Friday. The stock’s 50 day moving average price is $44.84 and its 200 day moving average price is $43.03. The firm has a market capitalization of $24.75 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 3.36 and a beta of 1.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.16 and a current ratio of 4.39. Fastenal has a one year low of $26.72 and a one year high of $49.86.

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

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, October 26th. Fastenal’s payout ratio is 72.46%.

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

Further Reading: Cash Flow Analysis in Stock Selection

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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