Fastenal (NASDAQ:FAST) Shares Sold by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. lessened its holdings in shares of Fastenal (NASDAQ:FAST) by 2.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 181,582 shares of the company’s stock after selling 4,461 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Fastenal were worth $13,058,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp lifted its holdings in Fastenal by 5.1% during the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company’s stock worth $1,999,009,000 after buying an additional 1,346,863 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Fastenal by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company’s stock worth $1,419,690,000 after acquiring an additional 608,596 shares during the period. Geode Capital Management LLC raised its stake in shares of Fastenal by 5.6% in the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company’s stock valued at $1,188,251,000 after acquiring an additional 880,372 shares in the last quarter. Legal & General Group Plc boosted its holdings in Fastenal by 3.4% in the second quarter. Legal & General Group Plc now owns 5,909,206 shares of the company’s stock valued at $371,334,000 after purchasing an additional 193,734 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Fastenal by 5.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company’s stock worth $336,974,000 after purchasing an additional 226,126 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Robert W. Baird lifted their price objective on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Bank of America assumed coverage on shares of Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 price target for the company. Stifel Nicolaus cut shares of Fastenal from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Wednesday, December 11th. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a report on Wednesday, December 11th. Finally, Hsbc Global Res cut Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Fastenal has a consensus rating of “Hold” and a consensus target price of $77.27.

Insider Buying and Selling

In other Fastenal news, Director Rita J. Heise sold 10,888 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total transaction of $845,670.96. Following the sale, the director now owns 20,000 shares in the company, valued at approximately $1,553,400. This represents a 35.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel L. Florness sold 31,818 shares of Fastenal stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $84.50, for a total value of $2,688,621.00. Following the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at approximately $24,168,521. This represents a 10.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,660 shares of company stock valued at $6,211,126. 0.41% of the stock is owned by insiders.

Fastenal Stock Up 1.8 %

FAST opened at $76.08 on Friday. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. The business has a 50 day simple moving average of $77.92 and a 200-day simple moving average of $72.93. The stock has a market capitalization of $43.59 billion, a P/E ratio of 37.85, a P/E/G ratio of 3.94 and a beta of 1.02.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1,842,560.16 billion. During the same period in the prior year, the firm posted $0.46 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts anticipate that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be paid a $0.43 dividend. This is an increase from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.26%. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

Fastenal Company 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.