Oppenheimer & Co. Inc. Sells 468 Shares of Fastenal (NASDAQ:FAST)

Oppenheimer & Co. Inc. reduced its holdings in Fastenal (NASDAQ:FAST) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,995 shares of the company’s stock after selling 468 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Fastenal were worth $2,856,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in FAST. Verdence Capital Advisors LLC boosted its holdings in Fastenal by 1.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company’s stock valued at $545,000 after purchasing an additional 142 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Fastenal by 5.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock valued at $186,000 after buying an additional 143 shares during the last quarter. Compass Ion Advisors LLC lifted its stake in shares of Fastenal by 1.5% in the third quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock valued at $709,000 after buying an additional 146 shares during the period. Catalina Capital Group LLC grew its position in Fastenal by 4.5% during the third quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock worth $240,000 after buying an additional 146 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. increased its stake in Fastenal by 1.1% during the first quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock valued at $1,030,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Holden Lewis sold 30,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $76.52, for a total transaction of $2,295,600.00. Following the transaction, the chief financial officer now owns 9,881 shares of the company’s stock, valued at $756,094.12. This represents a 75.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Daniel L. Florness sold 45,744 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,489,266.52. The trade was a 13.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,033 shares of company stock valued at $19,240,434. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

FAST has been the subject of a number of research reports. Robert W. Baird raised their price objective on 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 issued a $86.00 target price (up from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Stephens boosted their price target on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. UBS Group started coverage on shares of Fastenal in a report on Wednesday. They set a “neutral” rating and a $88.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $74.80.

Fastenal Stock Down 0.4 %

Shares of FAST opened at $81.85 on Friday. The company has a market capitalization of $46.89 billion, a P/E ratio of 40.72, a PEG ratio of 4.90 and a beta of 0.99. Fastenal has a one year low of $59.47 and a one year high of $84.88. The business’s 50 day simple moving average is $74.64 and its 200-day simple moving average is $69.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts predict that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.91%. The ex-dividend date is Friday, October 25th. Fastenal’s payout ratio is presently 77.61%.

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.