Fastenal (NASDAQ:FAST) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC cut its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,536 shares of the company's stock after selling 5,072 shares during the period. Yousif Capital Management LLC's holdings in Fastenal were worth $11,904,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Fastenal by 5.1% during the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company's stock valued at $1,999,009,000 after acquiring an additional 1,346,863 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Fastenal by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company's stock valued at $1,419,690,000 after purchasing an additional 608,596 shares during the last quarter. Geode Capital Management LLC lifted its position in Fastenal by 5.6% during the third quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company's stock valued at $1,188,251,000 after purchasing an additional 880,372 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Fastenal by 5.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company's stock worth $336,974,000 after buying an additional 226,126 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Fastenal by 3.8% during the third quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company's stock worth $350,703,000 after acquiring an additional 165,423 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Fastenal Stock Down 1.1 %

Shares of FAST stock traded down $0.81 during mid-day trading on Friday, hitting $73.84. The stock had a trading volume of 2,971,859 shares, compared to its average volume of 3,333,444. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.67 and a quick ratio of 2.28. The firm's 50-day moving average is $75.44 and its two-hundred day moving average is $73.94. The firm has a market capitalization of $42.30 billion, a P/E ratio of 36.74, a price-to-earnings-growth ratio of 3.55 and a beta of 1.02. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The business's quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.46 EPS. On average, analysts predict that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.33%. This is an increase from Fastenal's previous quarterly dividend of $0.39. Fastenal's dividend payout ratio (DPR) is presently 85.57%.

Insider Buying and Selling at Fastenal

In other news, VP Charles S. Miller sold 23,480 shares of Fastenal stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total transaction of $1,970,441.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel L. Florness sold 31,818 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $84.50, for a total value of $2,688,621.00. Following the sale, the chief executive officer now owns 286,018 shares in the company, valued at approximately $24,168,521. The trade was a 10.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,772 shares of company stock worth $5,365,455 over the last quarter. Insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Fastenal from $72.00 to $76.00 and gave the stock an "equal weight" rating in a research note on Monday, October 14th. Robert W. Baird upped their price target on shares of Fastenal from $67.00 to $80.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Jefferies Financial Group raised their price objective on shares of Fastenal from $74.00 to $85.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. Stifel Nicolaus cut their target price on Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. Finally, HSBC lowered Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 price target for the company. in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $76.91.

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.