Cullen Frost Bankers Inc. Sells 976 Shares of Fastenal (NASDAQ:FAST)

Cullen Frost Bankers Inc. cut its stake in Fastenal (NASDAQ:FAST) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,896 shares of the company’s stock after selling 976 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Fastenal were worth $1,936,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FAST. Van ECK Associates Corp boosted its position in Fastenal by 5.7% in the fourth quarter. Van ECK Associates Corp now owns 101,713 shares of the company’s stock worth $6,588,000 after purchasing an additional 5,509 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Fastenal by 3.7% in the fourth quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock worth $58,304,000 after buying an additional 31,814 shares during the last quarter. ICW Investment Advisors LLC raised its holdings in Fastenal by 2.0% in the 4th quarter. ICW Investment Advisors LLC now owns 36,090 shares of the company’s stock worth $2,338,000 after purchasing an additional 694 shares during the period. International Assets Investment Management LLC purchased a new stake in Fastenal in the fourth quarter worth about $13,204,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Fastenal by 178.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 78,030 shares of the company’s stock valued at $5,054,000 after buying an additional 49,972 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Daniel L. Johnson bought 3,350 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average price of $68.38 per share, with a total value of $229,073.00. Following the transaction, the director now owns 10,595 shares in the company, valued at approximately $724,486.10. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Fastenal news, insider Jeffery Michael Watts sold 19,420 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 5,940 shares of the company’s stock, valued at $417,285. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel L. Johnson bought 3,350 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were acquired at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the purchase, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by company insiders.

Fastenal Trading Up 1.3 %

Shares of FAST stock opened at $67.62 on Friday. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $38.72 billion, a price-to-earnings ratio of 33.48, a price-to-earnings-growth ratio of 3.58 and a beta of 1.07. Fastenal has a 12-month low of $52.86 and a 12-month high of $79.04. The stock’s 50-day moving average price is $72.63 and its 200-day moving average price is $67.29.

Fastenal (NASDAQ:FAST) last announced its quarterly 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 business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm posted $0.52 EPS. The company’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 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s payout ratio is 77.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FAST shares. Loop Capital decreased their target price 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. Robert W. Baird decreased their price target on Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday. Stifel Nicolaus boosted their price objective on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, HSBC lifted their target price on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating 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 company’s stock. According to MarketBeat, Fastenal currently has a consensus rating of “Hold” and a consensus target price of $67.33.

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.