Ferguson Wellman Capital Management Inc. Decreases Stock Position in Fastenal (NASDAQ:FAST)

Ferguson Wellman Capital Management Inc. decreased its position in shares of Fastenal (NASDAQ:FAST) by 4.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,928 shares of the company’s stock after selling 1,280 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Fastenal were worth $1,566,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Central Valley Advisors LLC purchased a new stake in shares of Fastenal during the 2nd quarter worth approximately $28,000. MCF Advisors LLC grew its stake in shares of Fastenal by 2,172.2% in the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after buying an additional 391 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Fastenal in the 4th quarter worth about $35,000. LRI Investments LLC purchased a new stake in shares of Fastenal during the 1st quarter valued at about $39,000. Finally, Criterion Capital Advisors LLC bought a new position in shares of Fastenal in the 4th quarter valued at about $43,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Hsenghung Sam Hsu purchased 500 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average cost of $63.28 per share, for a total transaction of $31,640.00. Following the acquisition, the director now owns 3,500 shares of the company’s stock, valued at approximately $221,480. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Hsenghung Sam Hsu bought 500 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was bought at an average price of $63.28 per share, with a total value of $31,640.00. Following the completion of the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $221,480. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James C. Jansen sold 11,428 shares of Fastenal stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total transaction of $732,191.96. Following the completion of the transaction, the executive vice president now directly owns 26,176 shares in the company, valued at $1,677,096.32. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

FAST has been the subject of several analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 price objective (down from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Jefferies Financial Group lowered their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Stephens reiterated an “equal weight” rating and set a $56.00 price target on shares of Fastenal in a report on Monday, July 15th. Finally, Robert W. Baird reduced their price objective on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $66.67.

Fastenal Trading Down 0.3 %

FAST stock traded down $0.23 during mid-day trading on Wednesday, reaching $66.15. The company had a trading volume of 670,918 shares, compared to its average volume of 3,625,781. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. The firm has a 50 day moving average of $65.65 and a 200 day moving average of $68.97. The company has a market capitalization of $37.87 billion, a PE ratio of 32.99, a price-to-earnings-growth ratio of 3.65 and a beta of 1.01. Fastenal has a 12 month low of $53.83 and a 12 month high of $79.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, July 12th. The company reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities analysts predict that Fastenal will post 2.05 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, July 26th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Friday, July 26th. Fastenal’s payout ratio is 77.61%.

Fastenal Company 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.