Fastenal Company $FAST Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its stake in Fastenal Company (NASDAQ:FAST) by 4.6% during the 4th quarter, HoldingsChannel reports. The firm owned 369,480 shares of the company’s stock after selling 17,978 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Fastenal were worth $14,827,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of FAST. SOA Wealth Advisors LLC. grew its stake in shares of Fastenal by 71.6% in the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after buying an additional 255 shares in the last quarter. REAP Financial Group LLC acquired a new position in Fastenal during the 3rd quarter worth approximately $30,000. Twin Peaks Wealth Advisors LLC acquired a new position in Fastenal during the 2nd quarter worth approximately $27,000. First Horizon Corp purchased a new position in Fastenal in the 3rd quarter worth approximately $33,000. Finally, Financial Perspectives Inc grew its position in Fastenal by 414.0% in the third quarter. Financial Perspectives Inc now owns 699 shares of the company’s stock valued at $34,000 after acquiring an additional 563 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group set a $52.00 price objective on shares of Fastenal and gave the company a “buy” rating in a research note on Monday, December 15th. Morgan Stanley restated a “positive” rating and issued a $45.00 target price on shares of Fastenal in a research note on Thursday, March 5th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a research note on Wednesday, January 21st. Benchmark reiterated a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Finally, Wolfe Research upped their price objective on shares of Fastenal from $43.00 to $46.00 and gave the company an “underperform” rating in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $49.08.

Fastenal Stock Performance

Shares of FAST opened at $46.63 on Thursday. The firm has a market cap of $53.55 billion, a price-to-earnings ratio of 42.39, a PEG ratio of 2.95 and a beta of 0.84. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $45.63 and its two-hundred day moving average is $43.81. Fastenal Company has a 52-week low of $35.31 and a 52-week high of $50.63.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.04 billion. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 earnings per share. Analysts forecast that Fastenal Company will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, January 29th. This represents a $0.96 annualized dividend and a yield of 2.1%. This is an increase from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s dividend payout ratio (DPR) is 87.27%.

Insider Activity

In other news, Director Reyne K. Wisecup sold 36,920 shares of the company’s stock in a transaction dated 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 sale, the director owned 40,000 shares in the company, valued at approximately $1,893,600. This represents a 48.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott Satterlee sold 15,964 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $44.19, for a total transaction of $705,449.16. Following the transaction, the director directly owned 50,000 shares in the company, valued at $2,209,500. The trade was a 24.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is currently owned by insiders.

Fastenal Company 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.