Commerce Bank Has $5.59 Million Holdings in Fastenal (NASDAQ:FAST)

Commerce Bank boosted its holdings in Fastenal (NASDAQ:FAST - Free Report) by 50.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,285 shares of the company's stock after purchasing an additional 26,224 shares during the quarter. Commerce Bank's holdings in Fastenal were worth $5,591,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake in Fastenal by 84.5% in the first quarter. Acadian Asset Management LLC now owns 2,735 shares of the company's stock valued at $210,000 after buying an additional 1,253 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in Fastenal by 7.6% during the 1st quarter. EP Wealth Advisors LLC now owns 8,112 shares of the company's stock valued at $626,000 after purchasing an additional 573 shares during the period. Axxcess Wealth Management LLC grew its position in Fastenal by 23.3% in the 1st quarter. Axxcess Wealth Management LLC now owns 17,608 shares of the company's stock worth $1,358,000 after purchasing an additional 3,324 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Fastenal by 2.1% during the first quarter. Toronto Dominion Bank now owns 341,300 shares of the company's stock valued at $26,328,000 after buying an additional 7,046 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in Fastenal by 61.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 347,807 shares of the company's stock valued at $26,830,000 after acquiring an additional 131,887 shares during the period. Institutional investors own 81.38% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FAST shares. Stifel Nicolaus reissued a "buy" rating and issued a $86.00 price target (up previously from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Bank of America assumed coverage on shares of Fastenal in a research note on Monday, October 7th. They set a "buy" rating and a $85.00 target price on the stock. UBS Group assumed coverage on shares of Fastenal in a report on Wednesday, November 13th. They issued a "neutral" rating and a $88.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Fastenal from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Finally, Stephens increased their price target on Fastenal from $56.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, October 14th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Fastenal presently has a consensus rating of "Hold" and a consensus price target of $74.80.

Fastenal Stock Up 0.8 %

NASDAQ:FAST traded up $0.64 on Friday, hitting $83.00. 765,006 shares of the company's stock traded hands, compared to its average volume of 3,283,073. The firm has a 50-day moving average price of $75.99 and a 200-day moving average price of $69.60. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The company has a market cap of $47.55 billion, a PE ratio of 41.01, a price-to-earnings-growth ratio of 4.78 and a beta of 0.99. Fastenal has a 1 year low of $59.47 and a 1 year high of $84.88.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the company earned $0.52 earnings per share. Fastenal's quarterly revenue was up 3.5% compared to the same quarter last year. Equities analysts anticipate that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 annualized dividend and a yield of 1.88%. Fastenal's dividend payout ratio (DPR) is presently 77.61%.

Insiders Place Their Bets

In other news, CEO Daniel L. Florness sold 31,818 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $84.50, for a total value of $2,688,621.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares of the company's stock, valued at approximately $24,168,521. This represents a 10.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John Lewis Soderberg sold 488 shares of the business's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The disclosure for this sale can be found here. Insiders sold a total of 208,289 shares of company stock valued at $16,123,438 in the last quarter. Insiders own 0.41% of the company's stock.

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.