Texas Permanent School Fund Corp Sells 1,687 Shares of Fastenal (NASDAQ:FAST)

Texas Permanent School Fund Corp trimmed its position in Fastenal (NASDAQ:FASTFree Report) by 1.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 118,061 shares of the company’s stock after selling 1,687 shares during the period. Texas Permanent School Fund Corp’s holdings in Fastenal were worth $6,451,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of FAST. Mission Wealth Management LP bought a new position in Fastenal during the 2nd quarter worth $213,000. Ontario Teachers Pension Plan Board bought a new position in Fastenal during the 2nd quarter worth $447,000. National Bank of Canada FI raised its position in Fastenal by 26.8% during the 3rd quarter. National Bank of Canada FI now owns 262,544 shares of the company’s stock worth $14,401,000 after purchasing an additional 55,491 shares during the last quarter. KBC Group NV raised its position in Fastenal by 108.1% during the 2nd quarter. KBC Group NV now owns 403,277 shares of the company’s stock worth $23,789,000 after purchasing an additional 209,475 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in Fastenal by 66.5% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 30,105 shares of the company’s stock worth $1,776,000 after purchasing an additional 12,024 shares during the last quarter. 78.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fastenal

In other Fastenal news, EVP Anthony Paul Broersma sold 5,586 shares of Fastenal stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total transaction of $387,333.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fastenal news, insider William Joseph Drazkowski sold 11,968 shares of Fastenal stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $69.10, for a total transaction of $826,988.80. Following the transaction, the insider now owns 5,997 shares of the company’s stock, valued at approximately $414,392.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Anthony Paul Broersma sold 5,586 shares of Fastenal stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total transaction of $387,333.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,120 shares of company stock worth $9,322,231. Insiders own 0.45% of the company’s stock.

Fastenal Stock Performance

FAST stock opened at $70.02 on Monday. The stock has a 50-day moving average price of $65.52 and a 200-day moving average price of $60.34. Fastenal has a 1-year low of $50.30 and a 1-year high of $70.95. The company has a current ratio of 4.57, a quick ratio of 2.27 and a debt-to-equity ratio of 0.06. The firm has a market cap of $40.07 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 3.62 and a beta of 1.05.

Fastenal (NASDAQ:FASTGet Free Report) last issued its earnings results on Thursday, January 18th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Fastenal had a return on equity of 34.31% and a net margin of 15.72%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $0.43 EPS. As a group, equities research analysts expect that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 29th. Stockholders of record on Thursday, February 1st will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This is an increase from Fastenal’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 2.23%. Fastenal’s dividend payout ratio (DPR) is currently 77.23%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Robert W. Baird raised their target price on Fastenal from $62.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Stifel Nicolaus lifted their price objective on Fastenal from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.17.

Get Our Latest Stock Analysis on FAST

Fastenal Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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