Metis Global Partners LLC Sells 1,290 Shares of Fastenal (NASDAQ:FAST)

Metis Global Partners LLC reduced its position in shares of Fastenal (NASDAQ:FAST) by 4.6% in the fourth quarter, Holdings Channel reports. The fund owned 27,045 shares of the company’s stock after selling 1,290 shares during the quarter. Metis Global Partners LLC’s holdings in Fastenal were worth $1,752,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its holdings in shares of Fastenal by 47.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company’s stock worth $256,344,000 after purchasing an additional 1,505,936 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of Fastenal by 85.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 2,179,453 shares of the company’s stock worth $141,163,000 after purchasing an additional 1,002,004 shares during the period. Invesco Ltd. grew its holdings in Fastenal by 16.5% during the 3rd 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 during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake 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 last quarter. 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 valued at $363,445,000 after buying an additional 568,372 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In related news, insider Jeffery Michael Watts sold 19,420 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total value of $1,364,255.00. Following the completion of the transaction, the insider now owns 5,940 shares in the company, valued at approximately $417,285. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Daniel L. Johnson acquired 3,350 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was bought at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the purchase, the director now owns 10,595 shares in the company, valued at $724,486.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffery Michael Watts sold 19,420 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total value of $1,364,255.00. Following the completion of the transaction, the insider now directly owns 5,940 shares of the company’s stock, valued at $417,285. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Robert W. Baird reduced their price target on Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday. Stifel Nicolaus upped their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, March 18th. HSBC lifted their price objective on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday, April 15th. Finally, Loop Capital reduced their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $67.33.

Fastenal Stock Down 0.5 %

NASDAQ:FAST opened at $66.41 on Wednesday. The stock has a market capitalization of $38.02 billion, a P/E ratio of 32.88, a P/E/G ratio of 3.58 and a beta of 1.07. Fastenal has a fifty-two week low of $52.86 and a fifty-two week high of $79.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. The company’s 50-day simple moving average is $72.87 and its 200-day simple moving average is $67.29.

Fastenal (NASDAQ:FAST) last announced its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 earnings per share. On average, equities analysts anticipate that Fastenal will post 2.12 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s dividend payout ratio is presently 77.23%.

About Fastenal

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.