Godsey & Gibb Inc. Has $21.53 Million Position in Fastenal (NASDAQ:FAST)

Godsey & Gibb Inc. lowered its holdings in Fastenal (NASDAQ:FAST - Free Report) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 301,410 shares of the company's stock after selling 8,240 shares during the period. Fastenal comprises about 2.1% of Godsey & Gibb Inc.'s investment portfolio, making the stock its 22nd biggest holding. Godsey & Gibb Inc. owned about 0.05% of Fastenal worth $21,527,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. ProShare Advisors LLC increased its stake in shares of Fastenal by 497.3% in the first quarter. ProShare Advisors LLC now owns 3,099,333 shares of the company's stock valued at $239,083,000 after purchasing an additional 2,580,478 shares during the period. Marshall Wace LLP increased its stake in shares of Fastenal by 4,008.2% in the second quarter. Marshall Wace LLP now owns 756,241 shares of the company's stock valued at $47,522,000 after purchasing an additional 737,833 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Fastenal by 19.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company's stock valued at $241,161,000 after purchasing an additional 636,546 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Fastenal in the second quarter valued at approximately $37,659,000. Finally, TD Asset Management Inc increased its stake in shares of Fastenal by 21.2% in the first quarter. TD Asset Management Inc now owns 3,248,853 shares of the company's stock valued at $250,617,000 after purchasing an additional 569,118 shares during the period. Institutional investors own 81.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FAST. Jefferies Financial Group dropped their price target on shares of Fastenal from $74.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, July 11th. Morgan Stanley raised their price objective on shares of Fastenal from $72.00 to $76.00 and gave the company an "equal weight" rating in a research note on Monday, October 14th. Robert W. Baird raised their price objective on shares of Fastenal from $67.00 to $80.00 and gave the company a "neutral" rating 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 price objective on the stock. Finally, 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. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $73.33.

Insider Buying and Selling

In related news, VP John Lewis Soderberg sold 488 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.32, for a total value of $37,244.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP John Lewis Soderberg sold 488 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.32, for a total value of $37,244.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Anthony Paul Broersma sold 680 shares of Fastenal 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 179,373 shares of company stock valued at $13,029,308. Company insiders own 0.41% of the company's stock.

Fastenal Price Performance

Fastenal stock traded down $0.13 during mid-day trading on Monday, hitting $77.77. The company's stock had a trading volume of 2,590,305 shares, compared to its average volume of 3,361,667. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $44.53 billion, a P/E ratio of 38.76, a P/E/G ratio of 4.13 and a beta of 1.01. Fastenal has a twelve month low of $56.41 and a twelve month high of $79.04. The stock's fifty day moving average price is $69.92 and its two-hundred day moving average price is $67.91.

Fastenal (NASDAQ:FAST - Get Free Report) last posted its quarterly earnings results 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 net margin of 15.54% and a return on equity of 33.54%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the business posted $0.52 earnings per share. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. Research analysts forecast that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Announces Dividend

The company 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. This represents a $1.56 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal's dividend payout ratio is 77.61%.

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.