Fastenal Company (FAST)

Meridian Wealth Management LLC Sells 4,803 Shares of Fastenal (NASDAQ:FAST)

Meridian Wealth Management LLC cut its position in shares of Fastenal (NASDAQ:FAST – Free Report) by 49.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,913 shares of the company’s stock after selling 4,803 shares during the quarter. Meridian Wealth Management LLC’s holdings in Fastenal were worth $318,000 at the end of the most recent quarter. A number of other hedge funds also recently modified their holdings of FAST. Envestnet Asset Management Inc. increased its holdings in Fastenal by 47.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company’s stock valued at $256,344,000 after purchasing an additional 1,505,936 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Fastenal by 85.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 2,179,453 shares of the company’s stock valued at $141,163,000 after purchasing an additional 1,002,004 shares in the last quarter. Invesco Ltd. increased its stake in Fastenal by 16.5% in the third quarter. Invesco Ltd. now owns 6,745,302 shares of the company’s stock valued at $368,563,000 after purchasing an additional 957,091 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Fastenal by 80.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,600,206 shares of the company’s stock worth $87,435,000 after purchasing an additional 711,265 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Fastenal by 9.3% during the third quarter. Royal Bank of Canada now owns 6,651,629 shares of the company’s stock worth $363,445,000 after purchasing an additional 568,372 shares in the last quarter. Institutional investors own 81.38% of the company’s stock. Fastenal Trading Down 0.6 % NASDAQ:FAST opened at $66.42 on Monday. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. Fastenal has a twelve month low of $52.86 and a twelve month high of $79.04. The company has a market cap of $38.03 billion, a P/E ratio of 32.88, a price-to-earnings-growth ratio of 3.48 and a beta of 1.07. The business has a 50 day moving average price of $71.73 and a two-hundred day moving average price of $67.82. Fastenal (NASDAQ:FAST – Get Free Report) last posted its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, analysts expect that Fastenal will post 2.12 EPS for the current fiscal year. Fastenal Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be paid a $0.39 dividend. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 annualized dividend and a dividend yield of 2.35%. Fastenal’s dividend payout ratio is presently 77.23%. Analyst Upgrades and Downgrades A number of analysts recently commented on the stock. HSBC upped their price objective on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, April 15th. Loop Capital dropped their price target on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Robert W. Baird decreased their price objective on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Finally, Stifel Nicolaus raised their target price on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $67.33. Check Out Our Latest Analysis on Fastenal Insider Activity at Fastenal In related news, VP Charles S. Miller sold 11,076 shares of Fastenal stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel L. Johnson bought 3,350 shares of Fastenal stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average cost of $68.38 per share, with a total value of $229,073.00. Following the acquisition, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The disclosure for this purchase can be found here. 0.41% of the stock is owned by company insiders. About Fastenal (Free Report) 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.