Fastenal (NASDAQ:FAST) Shares Sold by Carolina Wealth Advisors LLC

Carolina Wealth Advisors LLC trimmed its holdings in shares of Fastenal (NASDAQ:FAST) by 4.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 102,101 shares of the company’s stock after selling 4,666 shares during the period. Fastenal makes up approximately 3.7% of Carolina Wealth Advisors LLC’s investment portfolio, making the stock its 7th largest holding. Carolina Wealth Advisors LLC’s holdings in Fastenal were worth $7,292,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of FAST. MCF Advisors LLC increased its position in shares of Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after purchasing an additional 391 shares during the period. Central Valley Advisors LLC acquired a new stake in Fastenal in the 2nd quarter valued at about $28,000. Moisand Fitzgerald Tamayo LLC grew its stake in shares of Fastenal by 1,019.0% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after purchasing an additional 428 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Fastenal in the 1st quarter worth approximately $39,000. Finally, Triad Wealth Partners LLC acquired a new stake in Fastenal during the second quarter valued at approximately $32,000. 81.38% of the stock is currently owned by institutional investors.

Fastenal Stock Down 0.4 %

Shares of NASDAQ:FAST traded down $0.33 during trading on Monday, reaching $77.57. 1,204,645 shares of the company traded hands, compared to its average volume of 3,355,253. Fastenal has a 1-year low of $56.41 and a 1-year high of $79.04. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. The firm has a market cap of $44.41 billion, a P/E ratio of 38.76, a price-to-earnings-growth ratio of 4.13 and a beta of 1.01. The firm has a fifty day simple moving average of $69.92 and a 200 day simple moving average of $67.91.

Fastenal (NASDAQ:FAST) last issued its earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. Analysts anticipate that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 2.01%. Fastenal’s dividend payout ratio is currently 77.61%.

Wall Street Analyst Weigh In

Several research firms have issued reports on FAST. Robert W. Baird lifted their price target on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $86.00 target price (up from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Stephens increased their price target on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group decreased their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $73.33.

Insider Activity

In other news, EVP Anthony Paul Broersma sold 680 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at approximately $19,929,734.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Anthony Paul Broersma sold 680 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total value of $52,944.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 179,373 shares of company stock worth $13,029,308. 0.41% of the stock is owned by corporate insiders.

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