Stock Yards Bank & Trust Co. Has $806,000 Holdings in Fastenal (NASDAQ:FAST)

Stock Yards Bank & Trust Co. lessened its holdings in shares of Fastenal (NASDAQ:FAST) by 2.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,205 shares of the company’s stock after selling 300 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Fastenal were worth $806,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Fastenal in the 3rd quarter valued at $25,000. Knuff & Co LLC acquired a new position in Fastenal in the third quarter valued at approximately $27,000. Moisand Fitzgerald Tamayo LLC boosted its stake in Fastenal by 1,019.0% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock valued at $34,000 after acquiring an additional 428 shares during the last quarter. First Personal Financial Services acquired a new stake in Fastenal during the 3rd quarter worth $36,000. Finally, CVA Family Office LLC raised its position in shares of Fastenal by 51.0% during the 3rd quarter. CVA Family Office LLC now owns 533 shares of the company’s stock valued at $38,000 after acquiring an additional 180 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Transactions at Fastenal

In other news, VP Charles S. Miller sold 23,480 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total value of $1,970,441.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel L. Johnson sold 8,474 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total transaction of $706,392.64. Following the transaction, the director now owns 10,595 shares in the company, valued at approximately $883,199.20. The trade was a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,772 shares of company stock valued at $5,365,455 over the last 90 days. 0.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FAST shares. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a research note on Wednesday, December 11th. Bank of America started coverage on Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Wolfe Research boosted their price objective on shares of Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Finally, Stifel Nicolaus cut their target price on shares of Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.91.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $73.72 on Tuesday. The company has a fifty day moving average price of $76.43 and a 200 day moving average price of $73.78. The firm has a market cap of $42.23 billion, a PE ratio of 36.68, a PEG ratio of 3.48 and a beta of 1.02. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the company earned $0.46 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Research analysts predict that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.33%. Fastenal’s dividend payout ratio (DPR) is 85.57%.

About Fastenal

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.