OLD National Bancorp IN Sells 1,261 Shares of Fastenal (NASDAQ:FAST)

OLD National Bancorp IN trimmed its holdings in shares of Fastenal (NASDAQ:FAST) by 6.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,011 shares of the company’s stock after selling 1,261 shares during the quarter. OLD National Bancorp IN’s holdings in Fastenal were worth $1,102,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FAST. Hartford Financial Management Inc. grew its holdings in Fastenal by 46.9% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after acquiring an additional 153 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Fastenal in the 4th quarter worth approximately $35,000. Criterion Capital Advisors LLC acquired a new position in shares of Fastenal in the 4th quarter worth approximately $43,000. Pacific Center for Financial Services acquired a new position in shares of Fastenal in the 3rd quarter worth approximately $66,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Fastenal by 77.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock worth $70,000 after purchasing an additional 474 shares during the period. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Up 0.1 %

Fastenal stock opened at $67.51 on Wednesday. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. Fastenal has a 12-month low of $52.28 and a 12-month high of $79.04. The firm’s fifty day moving average is $73.54 and its 200 day moving average is $66.63. The company has a market capitalization of $38.65 billion, a PE ratio of 33.42, a PEG ratio of 3.53 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts predict that Fastenal will post 2.12 EPS for the current fiscal year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.31%. Fastenal’s payout ratio is 77.23%.

Insiders Place Their Bets

In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel L. Johnson acquired 3,350 shares of the stock in a transaction on Wednesday, April 17th. The shares were acquired at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the acquisition, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 48,050 shares of company stock worth $3,411,049. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FAST. Stifel Nicolaus boosted their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. HSBC boosted their price target on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Robert W. Baird dropped their price target on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Finally, Loop Capital dropped their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $67.67.

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.