Fastenal Company $FAST Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lessened its position in shares of Fastenal Company (NASDAQ:FAST) by 48.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 120,557 shares of the company’s stock after selling 113,172 shares during the period. TD Waterhouse Canada Inc.’s holdings in Fastenal were worth $5,758,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Brighton Jones LLC bought a new stake in shares of Fastenal during the fourth quarter valued at about $496,000. Integrated Wealth Concepts LLC grew its position in Fastenal by 2.4% in the first quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after buying an additional 147 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Fastenal during the second quarter valued at $158,000. Jump Financial LLC acquired a new position in shares of Fastenal in the second quarter worth about $2,199,000. Finally, Cary Street Partners Financial LLC boosted its stake in Fastenal by 111.0% in the 2nd quarter. Cary Street Partners Financial LLC now owns 3,367 shares of the company’s stock worth $141,000 after purchasing an additional 1,771 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on FAST shares. Morgan Stanley upped their price objective on shares of Fastenal from $48.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Rothschild & Co Redburn set a $55.00 target price on Fastenal and gave the stock a “buy” rating in a report on Monday, July 13th. Barclays cut their target price on shares of Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Jefferies Financial Group reissued a “buy” rating on shares of Fastenal in a research report on Thursday, June 4th. Finally, Robert W. Baird set a $54.00 target price on Fastenal in a research report on Friday, August 7th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $49.17.

Fastenal Stock Performance

FAST opened at $49.60 on Monday. The firm has a 50 day simple moving average of $48.71 and a 200 day simple moving average of $46.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21. The company has a market cap of $56.92 billion, a price-to-earnings ratio of 42.03, a price-to-earnings-growth ratio of 3.09 and a beta of 0.72. Fastenal Company has a fifty-two week low of $38.97 and a fifty-two week high of $52.92.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, sell-side analysts anticipate that Fastenal Company will post 1.26 earnings per share for the current year.

Fastenal Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th were paid a $0.26 dividend. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Tuesday, July 28th. Fastenal’s dividend payout ratio is 88.14%.

Insider Buying and Selling at Fastenal

In other news, Director Rita J. Heise sold 34,964 shares of Fastenal stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total value of $1,749,948.20. Following the completion of the transaction, the director owned 20,000 shares of the company’s stock, valued at $1,001,000. This trade represents a 63.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Ancius sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total value of $147,000.00. Following the transaction, the director directly owned 58,690 shares in the company, valued at $2,875,810. The trade was a 4.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is currently owned by company insiders.

Fastenal Profile

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.