Gamble Jones Investment Counsel lowered its stake in shares of Fastenal (NASDAQ:FAST) by 1.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,460 shares of the company’s stock after selling 900 shares during the quarter. Gamble Jones Investment Counsel’s holdings in Fastenal were worth $1,649,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in FAST. Cacti Asset Management LLC boosted its position in Fastenal by 100.0% during the 2nd quarter. Cacti Asset Management LLC now owns 14,790 shares of the company’s stock valued at $476,000 after purchasing an additional 7,395 shares during the period. First Financial Bank Trust Division boosted its position in Fastenal by 113.1% during the 2nd quarter. First Financial Bank Trust Division now owns 142,626 shares of the company’s stock worth $4,648,000 after acquiring an additional 75,687 shares during the period. Thomasville National Bank boosted its position in Fastenal by 100.0% during the 2nd quarter. Thomasville National Bank now owns 10,500 shares of the company’s stock worth $342,000 after acquiring an additional 5,250 shares during the period. Park National Corp OH boosted its position in Fastenal by 100.0% during the 2nd quarter. Park National Corp OH now owns 11,700 shares of the company’s stock worth $381,000 after acquiring an additional 5,850 shares during the period. Finally, Pensionfund DSM Netherlands boosted its position in Fastenal by 100.0% during the 2nd quarter. Pensionfund DSM Netherlands now owns 80,000 shares of the company’s stock worth $2,607,000 after acquiring an additional 40,000 shares during the period. Institutional investors and hedge funds own 84.20% of the company’s stock.
Shares of FAST traded down $0.07 during midday trading on Friday, reaching $37.07. The stock had a trading volume of 3,190,200 shares, compared to its average volume of 4,746,204. Fastenal has a 52 week low of $24.60 and a 52 week high of $37.91. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.51 and a quick ratio of 2.06. The company has a market capitalization of $21.38 billion, a P/E ratio of 28.08, a P/E/G ratio of 1.69 and a beta of 1.26. The firm’s 50 day moving average price is $34.55 and its 200-day moving average price is $37.70.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.37%. Fastenal’s dividend payout ratio is 66.67%.
In other Fastenal news, CAO Sheryl Ann Lisowski sold 5,615 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $33.50, for a total value of $188,102.50. Following the transaction, the chief accounting officer now owns 10,382 shares in the company, valued at $347,797. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Willard D. Oberton sold 100,000 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $37.00, for a total value of $3,700,000.00. Following the completion of the transaction, the director now owns 114,194 shares in the company, valued at approximately $4,225,178. The disclosure for this sale can be found here. Insiders have sold 171,031 shares of company stock worth $6,250,224 in the last quarter. 0.56% of the stock is currently owned by corporate insiders.
A number of brokerages have issued reports on FAST. Argus boosted their price target on Fastenal to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird boosted their price target on Fastenal from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Buckingham Research boosted their price target on Fastenal from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Morgan Stanley boosted their price target on Fastenal from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Finally, Edward Jones lowered Fastenal from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $34.55.
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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