Bahl & Gaynor Inc. Sells 21,116 Shares of Fastenal (NASDAQ:FAST)

Bahl & Gaynor Inc. cut its position in shares of Fastenal (NASDAQ:FAST) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 851,420 shares of the company’s stock after selling 21,116 shares during the period. Bahl & Gaynor Inc. owned 0.15% of Fastenal worth $55,146,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Bryn Mawr Capital Management LLC increased its stake in shares of Fastenal by 2.7% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 47,667 shares of the company’s stock worth $3,087,000 after purchasing an additional 1,244 shares during the last quarter. Syon Capital LLC acquired a new position in shares of Fastenal during the 4th quarter worth about $315,000. Tokio Marine Asset Management Co. Ltd. grew its stake in Fastenal by 14.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,556 shares of the company’s stock valued at $748,000 after buying an additional 1,493 shares during the last quarter. Harvest Fund Management Co. Ltd grew its stake in Fastenal by 11.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 5,249 shares of the company’s stock valued at $337,000 after buying an additional 525 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in Fastenal in the 4th quarter valued at about $488,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on FAST shares. Robert W. Baird decreased their price target on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. HSBC upped their price target on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Stifel Nicolaus upped their price target on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Loop Capital decreased their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $67.67.

Fastenal Stock Performance

Shares of NASDAQ:FAST opened at $68.17 on Friday. The company’s 50 day moving average price is $73.41 and its two-hundred day moving average price is $66.73. Fastenal has a 12-month low of $52.66 and a 12-month high of $79.04. The firm has a market cap of $39.03 billion, a PE ratio of 33.75, a PEG ratio of 3.57 and a beta of 1.05. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06.

Fastenal (NASDAQ:FAST) last announced its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the company earned $0.52 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts predict that Fastenal will post 2.12 earnings per share for the current year.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Insider Transactions at Fastenal

In other news, EVP Anthony Paul Broersma sold 5,586 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total transaction of $387,333.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jeffery Michael Watts sold 19,420 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total value of $1,364,255.00. Following the completion of the transaction, the insider now owns 5,940 shares of the company’s stock, valued at approximately $417,285. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Anthony Paul Broersma sold 5,586 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total transaction of $387,333.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,082 shares of company stock valued at $2,584,060. Company insiders own 0.41% of the company’s stock.

About Fastenal

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