Mcdonald Capital Investors Inc. CA Sells 24,855 Shares of Fastenal (NASDAQ:FAST)

Mcdonald Capital Investors Inc. CA lessened its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,034,983 shares of the company's stock after selling 24,855 shares during the period. Fastenal makes up approximately 4.5% of Mcdonald Capital Investors Inc. CA's investment portfolio, making the stock its 10th largest position. Mcdonald Capital Investors Inc. CA owned about 0.18% of Fastenal worth $73,918,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Central Valley Advisors LLC acquired a new stake in shares of Fastenal in the second quarter valued at approximately $28,000. Triad Wealth Partners LLC acquired a new position in Fastenal during the second quarter valued at approximately $32,000. Crewe Advisors LLC raised its position in Fastenal by 528.4% during the second quarter. Crewe Advisors LLC now owns 509 shares of the company's stock valued at $32,000 after purchasing an additional 428 shares in the last quarter. Moisand Fitzgerald Tamayo LLC raised its position in Fastenal by 1,019.0% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company's stock valued at $34,000 after purchasing an additional 428 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in Fastenal during the second quarter valued at approximately $35,000. Institutional investors own 81.38% of the company's stock.

Insider Buying and Selling

In related news, VP John Lewis Soderberg sold 488 shares of the business's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $76.32, for a total value of $37,244.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of the company's stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total transaction of $52,944.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP John Lewis Soderberg sold 488 shares of the company's stock in a transaction dated Monday, October 14th. The shares were 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 have sold a total of 190,261 shares of company stock valued at $13,874,979 over the last 90 days. 0.41% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on FAST. Jefferies Financial Group lowered their price objective on shares of Fastenal from $74.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, July 11th. Robert W. Baird boosted their price objective on shares of Fastenal from $67.00 to $80.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Morgan Stanley boosted their price objective on shares of Fastenal from $72.00 to $76.00 and gave the company an "equal weight" rating in a research report on Monday, October 14th. Bank of America started coverage on shares of Fastenal in a research report on Monday, October 7th. They set a "buy" rating and a $85.00 price objective for the company. Finally, Stifel Nicolaus reiterated a "buy" rating and set a $86.00 price target (up from $80.00) on shares of Fastenal in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $73.33.

Fastenal Trading Down 0.6 %

Shares of Fastenal stock traded down $0.47 during trading on Thursday, hitting $83.10. The company's stock had a trading volume of 2,804,378 shares, compared to its average volume of 3,336,725. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. Fastenal has a 52 week low of $59.00 and a 52 week high of $83.80. The stock has a market cap of $47.61 billion, a price-to-earnings ratio of 41.37, a price-to-earnings-growth ratio of 4.56 and a beta of 0.99. The stock has a 50-day moving average price of $72.67 and a two-hundred day moving average price of $68.48.

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

Fastenal Announces Dividend

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

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.