Bokf Na Sells 14,584 Shares of Fastenal Company $FAST

Bokf Na lowered its holdings in Fastenal Company (NASDAQ:FAST) by 10.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,369 shares of the company’s stock after selling 14,584 shares during the quarter. Bokf Na’s holdings in Fastenal were worth $5,854,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Fastenal by 1.6% during the third quarter. Vanguard Group Inc. now owns 151,515,539 shares of the company’s stock worth $7,430,322,000 after purchasing an additional 2,346,045 shares during the period. State Street Corp grew its stake in shares of Fastenal by 99.6% in the 2nd quarter. State Street Corp now owns 54,317,385 shares of the company’s stock valued at $2,281,330,000 after purchasing an additional 27,107,520 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Fastenal by 103.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 45,995,937 shares of the company’s stock worth $1,931,830,000 after buying an additional 23,380,022 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Fastenal by 103.8% in the 2nd quarter. Geode Capital Management LLC now owns 35,984,281 shares of the company’s stock worth $1,506,141,000 after buying an additional 18,329,847 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Fastenal by 141.9% during the 2nd quarter. Invesco Ltd. now owns 15,973,759 shares of the company’s stock worth $670,898,000 after buying an additional 9,370,909 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Down 2.9%

NASDAQ FAST opened at $45.25 on Friday. The stock has a market capitalization of $51.96 billion, a P/E ratio of 41.14, a price-to-earnings-growth ratio of 2.97 and a beta of 0.88. Fastenal Company has a 52 week low of $35.31 and a 52 week high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85. The stock has a fifty day moving average of $44.81 and a 200-day moving average of $44.21.

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

Fastenal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Thursday, January 29th. This is a boost from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio is currently 87.27%.

Analyst Ratings Changes

Several brokerages recently commented on FAST. Jefferies Financial Group set a $52.00 price target on Fastenal and gave the company a “buy” rating in a research note on Monday, December 15th. Benchmark reissued a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Raymond James Financial set a $48.00 target price on shares of Fastenal in a research note on Thursday, March 5th. Wolfe Research upped their target price on shares of Fastenal from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Friday, February 27th. Finally, Barclays increased their target price on shares of Fastenal from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, March 6th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.83.

Insider Activity

In related news, Director Reyne K. Wisecup sold 36,920 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total value of $1,747,792.80. Following the transaction, the director directly owned 40,000 shares in the company, valued at $1,893,600. This represents a 48.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Scott Satterlee sold 15,964 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 50,000 shares in the company, valued at approximately $2,209,500. The trade was a 24.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.