Fastenal (NASDAQ:FAST) Shares Sold by GDS Wealth Management

GDS Wealth Management decreased its holdings in Fastenal (NASDAQ:FAST) by 4.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,452 shares of the company’s stock after selling 317 shares during the quarter. GDS Wealth Management’s holdings in Fastenal were worth $405,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Central Valley Advisors LLC bought a new position in Fastenal during the 2nd quarter worth $28,000. MCF Advisors LLC grew its position in 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 purchasing an additional 391 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of Fastenal in the second quarter valued at approximately $32,000. Crewe Advisors LLC raised its holdings in shares of Fastenal by 528.4% during the second quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock valued at $32,000 after buying an additional 428 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of Fastenal during the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling

In other news, CEO Daniel L. Florness sold 45,744 shares of the company’s 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 directly owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares in the company, valued at $19,929,734.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction 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 transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $19,489,266.52. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the topic of several analyst reports. Morgan Stanley started coverage on Fastenal in a research report on Friday, September 6th. They issued an “equal weight” rating and a $72.00 target price on the stock. Stifel Nicolaus restated a “buy” rating and set a $80.00 price objective (down from $85.00) on shares of Fastenal in a research note on Monday, July 15th. Stephens reiterated an “equal weight” rating and issued a $56.00 target price on shares of Fastenal in a research report on Monday, July 15th. Finally, Jefferies Financial Group lowered their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $67.43.

Fastenal Price Performance

NASDAQ:FAST opened at $70.09 on Tuesday. Fastenal has a 52-week low of $53.83 and a 52-week high of $79.04. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average price is $67.50 and its 200 day moving average price is $68.50. The firm has a market cap of $40.13 billion, a P/E ratio of 34.87, a PEG ratio of 3.78 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last released its earnings results on Friday, July 12th. The company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. As a group, sell-side analysts predict 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 was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, July 26th. Fastenal’s dividend payout ratio is presently 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.