Mcdonald Capital Investors Inc. CA Sells 24,855 Shares of Fastenal (NASDAQ:FAST)

Mcdonald Capital Investors Inc. CA decreased its holdings in shares of Fastenal (NASDAQ:FAST) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,034,983 shares of the company’s stock after selling 24,855 shares during the quarter. Fastenal makes up about 4.5% of Mcdonald Capital Investors Inc. CA’s investment portfolio, making the stock its 10th biggest holding. Mcdonald Capital Investors Inc. CA’s holdings in Fastenal were worth $73,918,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FAST. Legal & General Group Plc lifted its stake 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 acquiring an additional 193,734 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Fastenal by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,665,482 shares of the company’s stock valued at $293,179,000 after purchasing an additional 66,130 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Fastenal by 13.2% during the second quarter. Thrivent Financial for Lutherans now owns 4,420,659 shares of the company’s stock worth $277,794,000 after purchasing an additional 517,172 shares during the period. Dimensional Fund Advisors LP grew its holdings in Fastenal by 19.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company’s stock worth $241,161,000 after purchasing an additional 636,546 shares during the period. Finally, TD Asset Management Inc increased its position in Fastenal by 21.2% during the first quarter. TD Asset Management Inc now owns 3,248,853 shares of the company’s stock worth $250,617,000 after buying an additional 569,118 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

FAST has been the subject of a number of recent analyst reports. Jefferies Financial Group cut their price objective on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $86.00 price target (up previously from $80.00) on shares of Fastenal in a report on Monday, October 14th. Morgan Stanley lifted their price objective on shares of Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Robert W. Baird increased their price objective on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Bank of America initiated coverage on shares of Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 target price for the company. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.33.

Fastenal Trading Down 0.5 %

Shares of Fastenal stock opened at $83.19 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. The firm has a 50-day moving average of $72.67 and a 200-day moving average of $68.48. Fastenal has a 52-week low of $59.00 and a 52-week high of $83.80. The stock has a market cap of $47.66 billion, a PE ratio of 41.58, a PEG ratio of 4.56 and a beta of 0.99.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period last year, the firm earned $0.52 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, sell-side analysts forecast that Fastenal will post 2.03 EPS for the current year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 annualized dividend and a yield of 1.88%. Fastenal’s dividend payout ratio is presently 77.61%.

Insider Buying and Selling at Fastenal

In related news, CAO Sheryl Ann Lisowski sold 13,567 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $76.19, for a total value of $1,033,669.73. Following the transaction, the chief accounting officer now owns 5,096 shares in the company, valued at approximately $388,264.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Daniel L. Florness sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the sale, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,929,734.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sheryl Ann Lisowski sold 13,567 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $76.19, for a total value of $1,033,669.73. Following the transaction, the chief accounting officer now directly owns 5,096 shares of the company’s stock, valued at approximately $388,264.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 190,261 shares of company stock valued at $13,874,979 in the last three months. Corporate insiders own 0.41% of the company’s stock.

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.