Albert D Mason Inc. Sells 193 Shares of Fastenal (NASDAQ:FAST)

by · The Markets Daily

Albert D Mason Inc. lessened its position in shares of Fastenal (NASDAQ:FAST – Free Report) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,750 shares of the company’s stock after selling 193 shares during the quarter. Fastenal comprises 1.1% of Albert D Mason Inc.’s holdings, making the stock its 29th biggest position. Albert D Mason Inc.’s holdings in Fastenal were worth $1,696,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FAST. Aaron Wealth Advisors LLC purchased a new stake in shares of Fastenal in the 3rd quarter valued at $310,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Fastenal by 98.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 118,301 shares of the company’s stock worth $9,126,000 after buying an additional 58,726 shares in the last quarter. Empowered Funds LLC boosted its holdings in Fastenal by 205.4% during the first quarter. Empowered Funds LLC now owns 27,181 shares of the company’s stock worth $2,097,000 after buying an additional 18,281 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Fastenal by 499.7% during the first quarter. Cetera Investment Advisers now owns 132,046 shares of the company’s stock worth $10,186,000 after buying an additional 110,027 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Fastenal by 7.2% during the first quarter. Nordea Investment Management AB now owns 1,371,825 shares of the company’s stock worth $106,316,000 after buying an additional 91,754 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

Shares of NASDAQ FAST opened at $76.54 on Wednesday. The stock has a market cap of $43.82 billion, a price-to-earnings ratio of 38.08, a PEG ratio of 4.13 and a beta of 1.01. Fastenal has a 52 week low of $56.41 and a 52 week high of $79.04. The company’s 50-day moving average price is $70.37 and its 200 day moving average price is $67.93. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04.

Fastenal (NASDAQ:FAST – Get Free Report) last issued its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 EPS. As a group, research analysts forecast that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 annualized dividend and a dividend yield of 2.04%. Fastenal’s payout ratio is currently 77.61%.

Insider Activity at Fastenal

In related news, EVP Anthony Paul Broersma sold 680 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total value of $52,944.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Fastenal news, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,489,266.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Anthony Paul Broersma sold 680 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total transaction of $52,944.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,373 shares of company stock worth $13,029,308. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FAST shares. JPMorgan Chase & Co. increased their price target on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Jefferies Financial Group lowered their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Robert W. Baird increased their price target on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Stephens upped their price objective on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Finally, Bank of America started coverage on shares of Fastenal in a research report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.33.

View Our Latest Analysis on Fastenal

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.

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