Chevy Chase Trust Holdings LLC Sells 4,274 Shares of Fastenal (NASDAQ:FAST)

Chevy Chase Trust Holdings LLC trimmed its position in shares of Fastenal (NASDAQ:FAST) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 314,082 shares of the company’s stock after selling 4,274 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Fastenal were worth $19,737,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Central Valley Advisors LLC purchased a new stake in shares of Fastenal during the second quarter valued at $28,000. MCF Advisors LLC increased its position in shares of Fastenal by 2,172.2% during the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after acquiring an additional 391 shares during the period. Triad Wealth Partners LLC purchased a new position in shares of Fastenal during the second quarter worth approximately $32,000. OFI Invest Asset Management bought a new stake in shares of Fastenal during the second quarter valued at approximately $35,000. Finally, LRI Investments LLC purchased a new position in Fastenal during the 1st quarter worth $39,000. Institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stephens reaffirmed an “equal weight” rating and issued a $56.00 price objective on shares of Fastenal in a research note on Monday, July 15th. Robert W. Baird reduced their price objective on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Jefferies Financial Group dropped their target price on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, 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. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Fastenal presently has an average rating of “Hold” and a consensus target price of $66.67.

Insiders Place Their Bets

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

Fastenal Stock Up 0.5 %

Shares of FAST stock traded up $0.35 during trading hours on Tuesday, reaching $66.90. 1,407,005 shares of the company’s stock were exchanged, compared to its average volume of 3,593,538. Fastenal has a fifty-two week low of $53.83 and a fifty-two week high of $79.04. The stock’s 50 day moving average is $65.86 and its 200-day moving average is $68.91. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. The company has a market cap of $38.30 billion, a price-to-earnings ratio of 33.28, a P/E/G ratio of 3.65 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, July 12th. The company reported $0.51 earnings per share (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 company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the company posted $0.52 EPS. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. Analysts predict that Fastenal will post 2.05 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, July 26th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Friday, July 26th. Fastenal’s dividend payout ratio (DPR) is presently 77.61%.

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.