11,000 Fastenal Company $FAST Shares Sold by Mcdonald Capital Investors Inc. CA

Mcdonald Capital Investors Inc. CA trimmed its position in Fastenal Company (NASDAQ:FAST) by 27.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,000 shares of the company’s stock after selling 11,000 shares during the period. Fastenal accounts for approximately 0.1% of Mcdonald Capital Investors Inc. CA’s investment portfolio, making the stock its 18th biggest holding. Mcdonald Capital Investors Inc. CA’s holdings in Fastenal were worth $1,436,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FAST. BlackRock Inc. purchased a new stake in shares of Fastenal in the 2nd quarter valued at $5,105,454,000. Caisse de depot et placement du Quebec acquired a new stake in shares of Fastenal in the second quarter worth $39,417,000. Baird Financial Group Inc. raised its holdings in shares of Fastenal by 1.2% during the second quarter. Baird Financial Group Inc. now owns 15,561,007 shares of the company’s stock worth $747,395,000 after purchasing an additional 183,238 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Fastenal by 0.5% during the second quarter. Envestnet Asset Management Inc. now owns 10,347,343 shares of the company’s stock worth $496,983,000 after purchasing an additional 50,335 shares during the last quarter. Finally, CX Institutional raised its holdings in shares of Fastenal by 1,073.1% during the third quarter. CX Institutional now owns 203,749 shares of the company’s stock worth $10,092,000 after purchasing an additional 186,381 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on FAST. DA Davidson set a $51.00 target price on shares of Fastenal and gave the company a “neutral” rating in a research report on Tuesday, October 13th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $47.00 price target (up from $42.00) on shares of Fastenal in a research report on Thursday, October 15th. Barclays reduced their price objective on Fastenal from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, July 16th. Wolfe Research initiated coverage on Fastenal in a report on Tuesday, September 15th. They issued an “underperform” rating and a $51.00 price objective for the company. Finally, Argus upped their target price on Fastenal from $55.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, October 21st. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fastenal has an average rating of “Hold” and an average price target of $51.46.

Fastenal Trading Down 1.8%

Shares of FAST stock opened at $51.55 on Wednesday. The business’s 50 day moving average is $50.42 and its two-hundred day moving average is $47.04. Fastenal Company has a 12-month low of $38.97 and a 12-month high of $52.92.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, October 14th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.44 billion. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 earnings per share. On average, equities analysts predict that Fastenal Company will post 1.27 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, October 28th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, October 28th.

Insiders Place Their Bets

In other Fastenal news, Director Rita J. Heise sold 34,964 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total transaction of $1,749,948.20. Following the completion of the transaction, the director directly owned 20,000 shares in the company, valued at approximately $1,001,000. This represents a 63.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.28% of the company’s stock.

Fastenal Company Profile

Fastenal Company is a distributor of industrial and construction supplies headquartered in Winona, Minnesota. Founded in 1967, the company primarily serves businesses that require products for manufacturing, construction, maintenance, repair and operations.

Its product range includes threaded fasteners, bolts, nuts, screws, industrial and safety supplies, tools, electrical and plumbing products, material-handling equipment, and other related items. Fastenal also provides inventory-management solutions, including automated vending machines, customer-specific inventory programs and onsite services designed to improve product availability and purchasing efficiency.

Fastenal serves customers through a network of locations and sales channels across the United States, Canada, Mexico, Europe and parts of Asia.