UMB Bank n.a. Trims Position in Fastenal (NASDAQ:FAST)

UMB Bank n.a. cut its holdings in shares of Fastenal (NASDAQ:FAST) by 5.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,954 shares of the company’s stock after selling 2,667 shares during the quarter. UMB Bank n.a.’s holdings in Fastenal were worth $3,568,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Nomura Holdings Inc. acquired a new stake in shares of Fastenal during the 4th quarter worth approximately $747,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Fastenal by 98.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 118,301 shares of the company’s stock worth $9,126,000 after purchasing an additional 58,726 shares during the period. Virtu Financial LLC acquired a new stake in shares of Fastenal during the 4th quarter worth approximately $1,078,000. Empowered Funds LLC grew its stake in shares of Fastenal by 205.4% during the 1st quarter. Empowered Funds LLC now owns 27,181 shares of the company’s stock worth $2,097,000 after purchasing an additional 18,281 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of Fastenal by 499.7% during the 1st quarter. Cetera Investment Advisers now owns 132,046 shares of the company’s stock worth $10,186,000 after purchasing an additional 110,027 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FAST shares. Jefferies Financial Group dropped their price objective 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. JPMorgan Chase & Co. lifted their price target on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday. Morgan Stanley initiated coverage on shares of Fastenal in a research note on Friday, September 6th. They issued an “equal weight” rating and a $72.00 price target on the stock. Bank of America initiated coverage on shares of Fastenal in a research note on Monday. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Stephens reissued an “equal weight” rating and issued a $56.00 price target on shares of Fastenal in a research note on Monday, July 15th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.89.

Insider Transactions at Fastenal

In other news, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the transaction, the chief executive officer now owns 286,018 shares in the company, valued at $19,929,734.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Daniel L. Florness sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $69.68, for a total value of $3,484,000.00. Following the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,929,734.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel L. Florness sold 45,744 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Fastenal Trading Down 0.9 %

Shares of FAST stock opened at $69.99 on Friday. The stock’s fifty day moving average is $68.53 and its two-hundred day moving average is $68.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39. The firm has a market capitalization of $40.08 billion, a P/E ratio of 34.82, a PEG ratio of 4.13 and a beta of 1.01. Fastenal has a fifty-two week low of $55.42 and a fifty-two week high of $79.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. Research analysts expect that Fastenal will post 2.04 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.23%. Fastenal’s dividend payout ratio is presently 77.61%.

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.