Oppenheimer & Co. Inc. Has $2.59 Million Stake in Fastenal Company $FAST

Oppenheimer & Co. Inc. trimmed its position in shares of Fastenal Company (NASDAQ:FAST) by 42.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,578 shares of the company’s stock after selling 46,706 shares during the period. Oppenheimer & Co. Inc.’s holdings in Fastenal were worth $2,592,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Secured Retirement Advisors LLC grew its stake in Fastenal by 10.3% during the fourth quarter. Secured Retirement Advisors LLC now owns 5,509 shares of the company’s stock worth $221,000 after buying an additional 515 shares in the last quarter. WoodTrust Financial Corp grew its stake in Fastenal by 6.3% during the fourth quarter. WoodTrust Financial Corp now owns 73,150 shares of the company’s stock worth $2,935,000 after buying an additional 4,350 shares in the last quarter. Keybank National Association OH grew its stake in Fastenal by 100.2% during the fourth quarter. Keybank National Association OH now owns 92,844 shares of the company’s stock worth $3,726,000 after buying an additional 46,459 shares in the last quarter. Vest Financial LLC grew its stake in Fastenal by 1.2% during the fourth quarter. Vest Financial LLC now owns 1,157,914 shares of the company’s stock worth $46,467,000 after buying an additional 13,908 shares in the last quarter. Finally, Strategic Blueprint LLC grew its stake in Fastenal by 21.9% during the fourth quarter. Strategic Blueprint LLC now owns 16,587 shares of the company’s stock worth $666,000 after buying an additional 2,978 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Trading Down 0.1%

Shares of Fastenal stock opened at $44.88 on Tuesday. The firm has a market capitalization of $51.52 billion, a PE ratio of 39.37, a price-to-earnings-growth ratio of 2.86 and a beta of 0.75. The company has a current ratio of 4.39, a quick ratio of 2.34 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $45.70 and its 200 day moving average is $43.57. Fastenal Company has a 1 year low of $38.97 and a 1 year high of $50.63.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. Fastenal had a net margin of 15.39% and a return on equity of 33.25%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 EPS. Equities research analysts forecast that Fastenal Company will post 1.23 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, April 28th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, April 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Fastenal’s payout ratio is 84.21%.

Insider Buying and Selling

In related news, Director Reyne K. Wisecup sold 36,920 shares of Fastenal stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $47.34, for a total transaction of $1,747,792.80. Following the sale, the director directly owned 40,000 shares in the company, valued at $1,893,600. This trade represents a 48.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.28% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group reiterated a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a research note on Wednesday, January 21st. Benchmark reiterated a “buy” rating on shares of Fastenal in a research note on Thursday, March 5th. Robert W. Baird decreased their price target on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $42.00 price target on shares of Fastenal in a report on Tuesday, April 14th. Finally, Wolfe Research decreased their price target on shares of Fastenal from $46.00 to $45.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Fastenal currently has an average rating of “Hold” and an average target price of $49.77.

Fastenal 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.