Fastenal (NASDAQ:FAST) Stock Position Reduced by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC decreased its holdings in shares of Fastenal (NASDAQ:FAST - Free Report) by 13.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,657 shares of the company's stock after selling 36,320 shares during the quarter. Fastenal accounts for approximately 1.0% of Motley Fool Asset Management LLC's portfolio, making the stock its 24th largest position. Motley Fool Asset Management LLC's holdings in Fastenal were worth $16,326,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Fastenal during the third quarter valued at about $25,000. Knuff & Co LLC bought a new stake in Fastenal during the third quarter valued at approximately $27,000. Central Valley Advisors LLC bought a new stake in shares of Fastenal during the 2nd quarter valued at $28,000. Moisand Fitzgerald Tamayo LLC boosted its position in shares of Fastenal by 1,019.0% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company's stock worth $34,000 after purchasing an additional 428 shares during the period. Finally, First Personal Financial Services bought a new position in Fastenal in the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 81.38% of the company's stock.

Insider Buying and Selling at Fastenal

In related news, CEO Daniel L. Florness sold 50,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $69.68, for a total transaction of $3,484,000.00. Following the sale, the chief executive officer now owns 286,018 shares in the company, valued at $19,929,734.24. This represents a 14.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Holden Lewis sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.52, for a total value of $2,295,600.00. Following the completion of the sale, the chief financial officer now owns 9,881 shares in the company, valued at approximately $756,094.12. This represents a 75.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,289 shares of company stock worth $16,123,438 in the last quarter. 0.41% of the stock is owned by insiders.

Fastenal Stock Performance

FAST stock traded down $0.65 on Wednesday, hitting $82.16. The company's stock had a trading volume of 2,418,796 shares, compared to its average volume of 3,256,199. Fastenal has a 1 year low of $60.16 and a 1 year high of $84.88. 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 firm has a 50 day moving average of $78.01 and a two-hundred day moving average of $70.56. The stock has a market cap of $47.07 billion, a price-to-earnings ratio of 41.20, a price-to-earnings-growth ratio of 4.84 and a beta of 1.00.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $1.90 billion. During the same quarter last year, the business posted $0.52 earnings per share. The business's revenue for the quarter was up 3.5% on a year-over-year basis. Equities analysts predict that Fastenal will post 2.03 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, October 25th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.90%. Fastenal's dividend payout ratio (DPR) is presently 77.61%.

Analysts Set New Price Targets

Several research analysts have commented on FAST shares. Stephens increased their price objective on shares of Fastenal from $56.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, October 14th. JPMorgan Chase & Co. upped their price target on shares of Fastenal from $57.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Morgan Stanley lifted their price objective on Fastenal from $72.00 to $76.00 and gave the company an "equal weight" rating in a report on Monday, October 14th. Robert W. Baird boosted their price target on Fastenal from $67.00 to $80.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. Finally, Bank of America initiated coverage on shares of Fastenal in a research note on Monday, October 7th. They set a "buy" rating and a $85.00 price target on the stock. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $74.80.

Fastenal Company 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.