Mcdonald Capital Investors Inc. CA Has $73.92 Million Position in Fastenal (NASDAQ:FAST)

Mcdonald Capital Investors Inc. CA trimmed its stake in shares of Fastenal (NASDAQ:FAST) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,034,983 shares of the company’s stock after selling 24,855 shares during the quarter. Fastenal accounts for 4.5% of Mcdonald Capital Investors Inc. CA’s portfolio, making the stock its 10th largest holding. Mcdonald Capital Investors Inc. CA owned approximately 0.18% of Fastenal worth $73,918,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FAST. Thurston Springer Miller Herd & Titak Inc. boosted its position in Fastenal by 5.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock valued at $186,000 after buying an additional 143 shares in the last quarter. Compass Ion Advisors LLC grew its position in Fastenal by 1.5% during the 3rd quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock worth $709,000 after acquiring an additional 146 shares during the last quarter. Catalina Capital Group LLC increased its holdings in Fastenal by 4.5% during the 3rd quarter. Catalina Capital Group LLC now owns 3,359 shares of the company’s stock valued at $240,000 after purchasing an additional 146 shares in the last quarter. Penobscot Investment Management Company Inc. raised its position in Fastenal by 1.1% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock valued at $1,030,000 after purchasing an additional 150 shares during the last quarter. Finally, Sara Bay Financial boosted its stake in Fastenal by 1.3% in the second quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock worth $746,000 after purchasing an additional 155 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Stock Performance

Shares of Fastenal stock opened at $83.19 on Thursday. The firm has a fifty day moving average of $72.67 and a two-hundred day moving average of $68.48. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40. The stock has a market capitalization of $47.66 billion, a price-to-earnings ratio of 41.58, a PEG ratio of 4.56 and a beta of 0.99. Fastenal has a 52 week low of $59.00 and a 52 week high of $83.80.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. As a group, equities research analysts predict that Fastenal will post 2.03 EPS for the current year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s payout ratio is 77.61%.

Insider Activity at Fastenal

In other Fastenal news, CAO Sheryl Ann Lisowski sold 13,567 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $76.19, for a total value of $1,033,669.73. Following the sale, the chief accounting officer now directly owns 5,096 shares in the company, valued at approximately $388,264.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Rita J. Heise sold 10,888 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total value of $845,670.96. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $1,553,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sheryl Ann Lisowski sold 13,567 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.19, for a total transaction of $1,033,669.73. Following the sale, the chief accounting officer now owns 5,096 shares in the company, valued at $388,264.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 190,261 shares of company stock worth $13,874,979. 0.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FAST shares. Jefferies Financial Group cut their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Bank of America initiated coverage on shares of Fastenal in a research note on Monday, October 7th. They set a “buy” rating and a $85.00 price target on the stock. Stephens raised their price target on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. upped their price objective on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Robert W. Baird lifted their target price on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $73.33.

Fastenal 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.