Ontario Teachers Pension Plan Board Sells 15,907 Shares of Fastenal (NASDAQ:FAST)

Ontario Teachers Pension Plan Board decreased its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 73.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,879 shares of the company's stock after selling 15,907 shares during the period. Ontario Teachers Pension Plan Board's holdings in Fastenal were worth $423,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sound Financial Strategies Group LLC acquired a new position in shares of Fastenal in the 4th quarter worth approximately $873,000. Matrix Trust Co acquired a new position in shares of Fastenal in the 4th quarter worth approximately $1,756,000. Franklin Resources Inc. grew its stake in shares of Fastenal by 3.8% in the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company's stock worth $350,703,000 after purchasing an additional 165,423 shares during the last quarter. Czech National Bank grew its stake in shares of Fastenal by 6.5% in the 4th quarter. Czech National Bank now owns 124,213 shares of the company's stock worth $8,932,000 after purchasing an additional 7,559 shares during the last quarter. Finally, Armstrong Henry H Associates Inc. grew its stake in shares of Fastenal by 29.9% in the 4th quarter. Armstrong Henry H Associates Inc. now owns 36,367 shares of the company's stock worth $2,615,000 after purchasing an additional 8,380 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Fastenal Stock Down 0.8 %

Fastenal stock traded down $0.67 during mid-day trading on Wednesday, hitting $80.77. 1,423,549 shares of the company's stock were exchanged, compared to its average volume of 3,081,905. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The stock has a market cap of $46.33 billion, a P/E ratio of 40.18, a P/E/G ratio of 3.58 and a beta of 1.05. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The stock has a 50 day moving average of $76.55 and a two-hundred day moving average of $76.82.

Fastenal (NASDAQ:FAST - Get Free Report) last posted its earnings results on Friday, April 11th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.94 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be given a $0.44 dividend. This is an increase from Fastenal's previous quarterly dividend of $0.43. This represents a $1.76 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, April 25th. Fastenal's dividend payout ratio (DPR) is currently 87.56%.

Insider Activity

In other news, EVP William Joseph Drazkowski sold 15,000 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $81.31, for a total value of $1,219,650.00. Following the sale, the executive vice president now directly owns 5,997 shares of the company's stock, valued at approximately $487,616.07. This trade represents a 71.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FAST has been the topic of several recent research reports. William Blair raised shares of Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th. Stephens lifted their target price on shares of Fastenal from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 15th. Robert W. Baird lifted their target price on shares of Fastenal from $80.00 to $86.00 and gave the stock a "neutral" rating in a research report on Monday, April 14th. Wolfe Research raised shares of Fastenal from an "underperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Finally, Stifel Nicolaus decreased their price target on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Fastenal presently has a consensus rating of "Hold" and an average price target of $79.10.

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.