Clearbridge LLC cut its position in shares of Fastenal (NASDAQ:FAST) by 25.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,350 shares of the company’s stock after selling 450 shares during the quarter. Clearbridge LLC’s holdings in Fastenal were worth $71,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Fastenal by 1.0% during the third quarter. Vanguard Group Inc. now owns 32,459,382 shares of the company’s stock worth $1,883,293,000 after purchasing an additional 311,099 shares during the last quarter. Vanguard Group Inc boosted its stake in Fastenal by 1.0% in the third quarter. Vanguard Group Inc now owns 32,459,382 shares of the company’s stock valued at $1,883,293,000 after acquiring an additional 311,099 shares during the last quarter. BlackRock Inc. boosted its stake in Fastenal by 3.3% in the fourth quarter. BlackRock Inc. now owns 19,919,843 shares of the company’s stock valued at $1,041,607,000 after acquiring an additional 633,546 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Fastenal by 7.7% in the fourth quarter. Bank of New York Mellon Corp now owns 15,859,900 shares of the company’s stock valued at $829,314,000 after acquiring an additional 1,134,666 shares during the last quarter. Finally, Route One Investment Company L.P. boosted its stake in Fastenal by 1.6% in the third quarter. Route One Investment Company L.P. now owns 7,848,280 shares of the company’s stock valued at $455,357,000 after acquiring an additional 125,000 shares during the last quarter. Institutional investors and hedge funds own 85.85% of the company’s stock.

NASDAQ FAST opened at $62.19 on Friday. Fastenal has a 12-month low of $47.37 and a 12-month high of $63.72. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 5.30. The company has a market capitalization of $17.79 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 1.37 and a beta of 1.17.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Thursday, January 17th. The company reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. Fastenal had a net margin of 15.14% and a return on equity of 33.48%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Research analysts predict that Fastenal will post 2.84 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 27th. Stockholders of record on Thursday, January 31st were given a $0.43 dividend. The ex-dividend date of this dividend was Wednesday, January 30th. This represents a $1.72 annualized dividend and a dividend yield of 2.77%. This is a positive change from Fastenal’s previous quarterly dividend of $0.40. Fastenal’s payout ratio is 65.40%.

A number of research firms have weighed in on FAST. ValuEngine upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Thursday, January 17th. Buckingham Research set a $51.00 target price on shares of Fastenal and gave the company a “hold” rating in a research note on Friday, January 11th. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Friday, December 14th. Longbow Research cut shares of Fastenal from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 4th. Finally, BidaskClub cut shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $56.91.

In other news, EVP John Lewis Soderberg sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $63.00, for a total value of $472,500.00. Following the sale, the executive vice president now owns 7,500 shares of the company’s stock, valued at $472,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Sheryl Ann Lisowski sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $62.50, for a total transaction of $625,000.00. Following the completion of the sale, the chief accounting officer now directly owns 10,300 shares in the company, valued at approximately $643,750. The disclosure for this sale can be found here. In the last three months, insiders sold 87,083 shares of company stock worth $5,458,662. Insiders own 0.62% of the company’s stock.

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About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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