Fastenal (NASDAQ:FAST) Stake Reduced by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC decreased its holdings in shares of Fastenal (NASDAQ:FAST) by 10.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,298 shares of the company’s stock after selling 615 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Fastenal were worth $343,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in FAST. Hartford Financial Management Inc. boosted its holdings in shares of Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after buying an additional 153 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Fastenal during the fourth quarter worth approximately $35,000. Criterion Capital Advisors LLC purchased a new position in Fastenal during the fourth quarter valued at approximately $43,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Fastenal by 77.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock valued at $70,000 after buying an additional 474 shares during the period. Finally, Pacific Center for Financial Services purchased a new stake in Fastenal in the 3rd quarter worth approximately $66,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling

In other news, Director Daniel L. Johnson purchased 3,350 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was bought at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the acquisition, the director now directly owns 10,595 shares of the company’s stock, valued at $724,486.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Fastenal news, Director Daniel L. Johnson purchased 3,350 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was bought at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the acquisition, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The purchase was disclosed in a filing with the SEC, which can be accessed 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 value of $387,333.24. The disclosure for this sale can be found here. Insiders have sold 36,082 shares of company stock worth $2,584,060 in the last quarter. 0.41% of the stock is currently owned by company insiders.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $68.43 on Friday. The stock has a market capitalization of $39.18 billion, a P/E ratio of 33.88, a P/E/G ratio of 3.56 and a beta of 1.07. The business has a 50-day moving average of $73.21 and a two-hundred day moving average of $67.01. Fastenal has a fifty-two week low of $52.85 and a fifty-two week high of $79.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49.

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

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be paid a $0.39 dividend. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a yield of 2.28%. Fastenal’s payout ratio is presently 77.23%.

Wall Street Analysts Forecast Growth

FAST has been the topic of several research analyst reports. Loop Capital lowered their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday, April 15th. HSBC upped their target price on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Stifel Nicolaus lifted their price target on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Robert W. Baird dropped their price objective on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Fastenal has an average rating of “Hold” and an average price target of $67.67.

Fastenal Profile

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.