Commerce Bank lowered its position in Fastenal Co. (NASDAQ:FAST) by 2.9% during the third quarter, Holdings Channel reports. The firm owned 37,809 shares of the company’s stock after selling 1,115 shares during the period. Commerce Bank’s holdings in Fastenal were worth $1,579,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the company. Cantab Capital Partners LLP acquired a new stake in Fastenal during the second quarter worth approximately $119,000. American Research & Management Co. raised its stake in Fastenal by 191.5% in the second quarter. American Research & Management Co. now owns 2,740 shares of the company’s stock worth $122,000 after buying an additional 1,800 shares during the period. Washington Trust Bank raised its stake in Fastenal by 2.3% in the second quarter. Washington Trust Bank now owns 2,762 shares of the company’s stock worth $123,000 after buying an additional 62 shares during the period. Van ECK Associates Corp raised its stake in Fastenal by 32.0% in the second quarter. Van ECK Associates Corp now owns 3,131 shares of the company’s stock worth $139,000 after buying an additional 759 shares during the period. Finally, FineMark National Bank & Trust raised its stake in Fastenal by 0.6% in the second quarter. FineMark National Bank & Trust now owns 3,420 shares of the company’s stock worth $152,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 76.20% of the company’s stock.
Shares of Fastenal Co. (NASDAQ:FAST) traded down 0.02% during midday trading on Monday, hitting $46.36. 2,289,943 shares of the company were exchanged. The firm’s 50 day moving average price is $41.34 and its 200 day moving average price is $42.84. Fastenal Co. has a one year low of $35.10 and a one year high of $49.99. The firm has a market capitalization of $13.40 billion, a price-to-earnings ratio of 26.98 and a beta of 0.92.
Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, October 11th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.01. Fastenal had a return on equity of 26.84% and a net margin of 12.61%. The firm had revenue of $1.01 billion for the quarter. During the same quarter in the prior year, the company posted $0.47 earnings per share. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts forecast that Fastenal Co. will post $1.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Tuesday, October 25th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, October 21st. This represents a $1.20 annualized dividend and a dividend yield of 2.60%. Fastenal’s payout ratio is currently 69.77%.
A number of research analysts have commented on FAST shares. Zacks Investment Research upgraded Fastenal from a “sell” rating to a “hold” rating in a research report on Friday. BMO Capital Markets reiterated a “hold” rating and issued a $45.00 price objective on shares of Fastenal in a research report on Monday, November 7th. Argus lowered Fastenal from a “buy” rating to a “hold” rating in a research report on Friday, October 14th. Vetr lowered Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 price objective on the stock. in a research report on Tuesday, September 6th. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of Fastenal in a research report on Sunday, September 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the stock. Fastenal has a consensus rating of “Hold” and an average price target of $47.93.
In other news, EVP Leland J. Hein sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $46.15, for a total transaction of $46,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Ancius purchased 700 shares of the firm’s stock in a transaction dated Thursday, October 13th. The shares were bought at an average price of $38.82 per share, with a total value of $27,174.00. The disclosure for this purchase can be found here. Insiders own 0.78% of the company’s stock.
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.