Hendershot Investments Inc. Sells 5,763 Shares of Fastenal (NASDAQ:FAST)

Hendershot Investments Inc. lessened its stake in shares of Fastenal (NASDAQ:FAST) by 5.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 108,372 shares of the company’s stock after selling 5,763 shares during the period. Hendershot Investments Inc.’s holdings in Fastenal were worth $6,810,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Penobscot Investment Management Company Inc. boosted its stake in shares of Fastenal by 1.1% in the first quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock worth $1,030,000 after acquiring an additional 150 shares during the period. Panagora Asset Management Inc. boosted its position in shares of Fastenal by 0.8% during the 4th quarter. Panagora Asset Management Inc. now owns 19,095 shares of the company’s stock valued at $1,237,000 after acquiring an additional 152 shares during the last quarter. Sara Bay Financial grew its holdings in shares of Fastenal by 1.3% in the second quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock valued at $746,000 after purchasing an additional 155 shares in the last quarter. Team Hewins LLC increased its position in Fastenal by 4.8% in the first quarter. Team Hewins LLC now owns 3,404 shares of the company’s stock worth $263,000 after purchasing an additional 157 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its stake in Fastenal by 2.0% during the first quarter. Bleakley Financial Group LLC now owns 8,173 shares of the company’s stock valued at $630,000 after purchasing an additional 159 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Fastenal Price Performance

Fastenal stock opened at $65.18 on Friday. 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 stock has a market cap of $37.32 billion, a price-to-earnings ratio of 32.43, a price-to-earnings-growth ratio of 3.72 and a beta of 1.01. The firm has a 50-day moving average of $66.65 and a two-hundred day moving average of $68.70. Fastenal has a 1 year low of $53.83 and a 1 year high of $79.04.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. On average, research analysts forecast that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Friday, July 26th. Fastenal’s dividend payout ratio (DPR) is 77.61%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FAST shares. Morgan Stanley began coverage on shares of Fastenal in a report on Friday. They issued an “equal weight” rating and a $72.00 target price on the stock. Jefferies Financial Group reduced their price objective on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Stifel Nicolaus reiterated a “buy” rating and issued a $80.00 target price (down previously from $85.00) on shares of Fastenal in a report on Monday, July 15th. Finally, Stephens restated an “equal weight” rating and set a $56.00 price target on shares of Fastenal in a report on Monday, July 15th. Seven 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 stock currently has an average rating of “Hold” and an average price target of $67.43.

Insider Buying and Selling at Fastenal

In related news, Director Hsenghung Sam Hsu purchased 500 shares of Fastenal stock in a transaction dated Monday, June 10th. The stock was purchased at an average cost of $63.28 per share, with a total value of $31,640.00. Following the transaction, the director now owns 3,500 shares in the company, valued at approximately $221,480. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Daniel L. Florness sold 45,744 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the sale, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,489,266.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Hsenghung Sam Hsu bought 500 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the purchase, the director now owns 3,500 shares in the company, valued at $221,480. The disclosure for this purchase can be found here. Insiders own 0.41% of the company’s stock.

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.