Fastenal Company $FAST Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. trimmed its holdings in Fastenal Company (NASDAQ:FAST) by 79.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 45,913 shares of the company’s stock after selling 180,814 shares during the period. Shell Asset Management Co.’s holdings in Fastenal were worth $2,252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FAST. National Pension Service boosted its holdings in shares of Fastenal by 3.6% in the third quarter. National Pension Service now owns 1,558,579 shares of the company’s stock valued at $76,433,000 after acquiring an additional 53,888 shares in the last quarter. Nordea Investment Management AB lifted its position in Fastenal by 6.3% in the third quarter. Nordea Investment Management AB now owns 3,713,469 shares of the company’s stock valued at $181,626,000 after purchasing an additional 219,154 shares during the period. Vanguard Group Inc. lifted its position in Fastenal by 103.5% in the second quarter. Vanguard Group Inc. now owns 149,169,494 shares of the company’s stock valued at $6,265,119,000 after purchasing an additional 75,852,223 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in Fastenal by 7,923.2% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,268,795 shares of the company’s stock valued at $62,222,000 after purchasing an additional 1,252,981 shares in the last quarter. Finally, Arjuna Capital acquired a new position in Fastenal during the 3rd quarter worth approximately $3,999,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other news, Director Scott Satterlee sold 15,964 shares of Fastenal stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the completion of the sale, the director directly owned 50,000 shares in the company, valued at $2,209,500. The trade was a 24.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sarah N. Nielsen acquired 1,000 shares of Fastenal stock in a transaction that occurred on Wednesday, November 19th. The shares were purchased at an average cost of $39.60 per share, for a total transaction of $39,600.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $198,000. This trade represents a 25.00% increase in their position. The SEC filing for this purchase provides additional information. 0.37% of the stock is owned by corporate insiders.

Fastenal Stock Performance

Shares of FAST opened at $46.41 on Friday. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The stock has a market cap of $53.29 billion, a P/E ratio of 42.19, a PEG ratio of 2.96 and a beta of 0.89. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $43.08 and a two-hundred day moving average of $44.43.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period in the prior year, the business earned $0.46 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts predict that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, January 29th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, January 29th. Fastenal’s payout ratio is presently 87.27%.

Wall Street Analysts Forecast Growth

FAST has been the subject of several recent analyst reports. Barclays set a $43.00 price target on Fastenal and gave the company an “equal weight” rating in a report on Wednesday, January 21st. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research note on Monday, December 29th. Wolfe Research reduced their price objective on shares of Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a research note on Wednesday, January 21st. Finally, UBS Group reiterated a “neutral” rating and set a $46.00 price target on shares of Fastenal in a research report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.18.

About Fastenal

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.