Fastenal Company $FAST Stock Holdings Decreased by Glenview Trust co

Glenview Trust co lowered its stake in Fastenal Company (NASDAQ:FAST) by 1.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 39,743 shares of the company’s stock after selling 536 shares during the period. Glenview Trust co’s holdings in Fastenal were worth $3,082,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Fastenal by 8.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,615,915 shares of the company’s stock worth $1,753,864,000 after purchasing an additional 1,850,871 shares during the last quarter. Picton Mahoney Asset Management increased its position in shares of Fastenal by 7.5% in the 1st quarter. Picton Mahoney Asset Management now owns 181,482 shares of the company’s stock worth $14,074,000 after purchasing an additional 12,721 shares during the last quarter. KLP Kapitalforvaltning AS increased its position in shares of Fastenal by 3.9% in the 1st quarter. KLP Kapitalforvaltning AS now owns 195,748 shares of the company’s stock worth $15,180,000 after purchasing an additional 7,400 shares during the last quarter. Raiffeisen Bank International AG increased its position in shares of Fastenal by 21.5% in the 1st quarter. Raiffeisen Bank International AG now owns 35,606 shares of the company’s stock worth $2,712,000 after purchasing an additional 6,303 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Fastenal by 23.9% in the 1st quarter. Deutsche Bank AG now owns 2,459,124 shares of the company’s stock worth $190,705,000 after purchasing an additional 473,987 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

FAST has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Fastenal from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 4th. Northcoast Research assumed coverage on shares of Fastenal in a report on Thursday, August 21st. They issued a “neutral” rating for the company. Robert W. Baird raised shares of Fastenal from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $47.00 to $55.00 in a report on Thursday, August 7th. Stifel Nicolaus set a $82.00 price target on shares of Fastenal in a report on Thursday, July 3rd. Finally, Baird R W raised shares of Fastenal from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $46.82.

Insider Activity

In other news, EVP William Joseph Drazkowski sold 6,842 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $48.67, for a total value of $333,000.14. Following the completion of the sale, the executive vice president directly owned 11,994 shares of the company’s stock, valued at approximately $583,747.98. This represents a 36.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Lewis Soderberg sold 34,612 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $48.03, for a total transaction of $1,662,414.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,230 shares of company stock valued at $5,288,364. Company insiders own 0.37% of the company’s stock.

Fastenal Trading Up 0.1%

Fastenal stock opened at $47.97 on Thursday. The company has a quick ratio of 2.12, a current ratio of 4.22 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $47.23 and a two-hundred day moving average price of $42.40. The firm has a market capitalization of $55.05 billion, a price-to-earnings ratio of 46.13, a PEG ratio of 4.36 and a beta of 0.97. Fastenal Company has a 52-week low of $33.43 and a 52-week high of $50.63.

Fastenal (NASDAQ:FAST) last posted its earnings results on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.07 billion. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. Fastenal’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. Sell-side analysts expect that Fastenal Company will post 2.15 earnings per share for the current year.

Fastenal Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, July 29th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 29th. Fastenal’s payout ratio is presently 84.62%.

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.