First National Bank of South Miami Has $236,000 Stock Position in Fastenal (NASDAQ:FAST)

First National Bank of South Miami lessened its stake in shares of Fastenal (NASDAQ:FAST) by 14.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,001 shares of the company’s stock after selling 691 shares during the period. First National Bank of South Miami’s holdings in Fastenal were worth $236,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FAST. Ritholtz Wealth Management boosted its stake in Fastenal by 28.7% in the 1st quarter. Ritholtz Wealth Management now owns 20,928 shares of the company’s stock worth $1,129,000 after purchasing an additional 4,668 shares during the period. Pictet Asset Management SA grew its holdings in shares of Fastenal by 17.7% during the first quarter. Pictet Asset Management SA now owns 798,504 shares of the company’s stock valued at $43,071,000 after buying an additional 120,350 shares in the last quarter. Arete Wealth Advisors LLC acquired a new position in Fastenal during the first quarter valued at $284,000. DnB Asset Management AS lifted its stake in Fastenal by 32.8% in the 2nd quarter. DnB Asset Management AS now owns 203,184 shares of the company’s stock worth $11,986,000 after acquiring an additional 50,205 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Fastenal by 2.4% during the 1st quarter. Arizona State Retirement System now owns 166,518 shares of the company’s stock worth $8,982,000 after acquiring an additional 3,851 shares during the period. 78.47% of the stock is owned by hedge funds and other institutional investors.

Fastenal Stock Down 0.6 %

FAST stock opened at $54.91 on Tuesday. The firm has a market cap of $31.37 billion, a PE ratio of 27.87, a PEG ratio of 3.09 and a beta of 1.16. Fastenal has a 1 year low of $43.73 and a 1 year high of $59.43. The company has a fifty day simple moving average of $57.11 and a 200 day simple moving average of $55.33. The company has a current ratio of 4.26, a quick ratio of 2.13 and a debt-to-equity ratio of 0.06.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Thursday, July 13th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.89 billion. Fastenal had a return on equity of 34.63% and a net margin of 15.52%. Fastenal’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. Sell-side analysts anticipate that Fastenal will post 1.98 EPS for the current fiscal year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, July 27th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 26th. This represents a $1.40 dividend on an annualized basis and a yield of 2.55%. Fastenal’s payout ratio is currently 71.07%.

Analysts Set New Price Targets

FAST has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price target on shares of Fastenal from $50.00 to $60.00 in a research report on Friday, June 16th. StockNews.com assumed coverage on shares of Fastenal in a research note on Thursday, August 17th. They set a “hold” rating for the company. Robert W. Baird boosted their price target on shares of Fastenal from $57.00 to $60.00 in a report on Friday, July 14th. HSBC began coverage on Fastenal in a report on Friday. They set a “hold” rating and a $59.00 price objective for the company. Finally, Stephens downgraded Fastenal from an “overweight” rating to an “equal weight” rating and set a $60.00 target price on the stock. in a research note on Thursday, July 13th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $57.00.

Insider Buying and Selling at Fastenal

In other news, Director Michael J. Ancius acquired 500 shares of Fastenal stock in a transaction dated Monday, July 17th. The stock was acquired at an average cost of $57.53 per share, for a total transaction of $28,765.00. Following the completion of the purchase, the director now owns 28,765 shares of the company’s stock, valued at $1,654,850.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Reyne K. Wisecup sold 19,564 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $56.78, for a total transaction of $1,110,843.92. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,135,600. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael J. Ancius acquired 500 shares of the stock in a transaction dated Monday, July 17th. The stock was bought at an average price of $57.53 per share, for a total transaction of $28,765.00. Following the purchase, the director now owns 28,765 shares of the company’s stock, valued at approximately $1,654,850.45. The disclosure for this purchase can be found here. Corporate insiders own 0.45% 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, 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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.