State of Alaska Department of Revenue Sells 45,880 Shares of Fastenal (NASDAQ:FAST)

State of Alaska Department of Revenue lessened its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 29.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 109,945 shares of the company's stock after selling 45,880 shares during the period. State of Alaska Department of Revenue's holdings in Fastenal were worth $7,852,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Valley National Advisers Inc. lifted its holdings in shares of Fastenal by 74,605.7% in the third quarter. Valley National Advisers Inc. now owns 26,147 shares of the company's stock valued at $1,866,000 after purchasing an additional 26,112 shares in the last quarter. Bristlecone Advisors LLC purchased a new stake in shares of Fastenal in the third quarter valued at $213,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Fastenal by 3.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,063,709 shares of the company's stock valued at $75,786,000 after purchasing an additional 33,025 shares in the last quarter. MCF Advisors LLC lifted its holdings in shares of Fastenal by 54.1% in the third quarter. MCF Advisors LLC now owns 635 shares of the company's stock valued at $45,000 after purchasing an additional 223 shares in the last quarter. Finally, Boston Trust Walden Corp purchased a new stake in shares of Fastenal in the third quarter valued at $203,000. Institutional investors and hedge funds own 81.38% of the company's stock.

Insiders Place Their Bets

In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Anthony Paul Broersma sold 680 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider William Joseph Drazkowski sold 16,362 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $77.65, for a total transaction of $1,270,509.30. Following the transaction, the insider now owns 5,997 shares of the company's stock, valued at approximately $465,667.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 179,373 shares of company stock worth $13,029,308. Corporate insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FAST shares. Morgan Stanley increased their price objective on Fastenal from $72.00 to $76.00 and gave the stock an "equal weight" rating in a report on Monday, October 14th. Stephens increased their price objective on Fastenal from $56.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on Fastenal from $57.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Stifel Nicolaus reiterated a "buy" rating and set a $86.00 price objective (up from $80.00) on shares of Fastenal in a report on Monday, October 14th. Finally, Robert W. Baird increased their price objective on Fastenal from $67.00 to $80.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $73.33.

Fastenal Trading Up 1.2 %

Shares of FAST traded up $0.94 during trading hours on Tuesday, reaching $77.61. The stock had a trading volume of 2,263,229 shares, compared to its average volume of 3,335,364. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. Fastenal has a 52 week low of $57.56 and a 52 week high of $79.04. The firm has a 50-day moving average of $71.32 and a 200 day moving average of $68.03. The company has a market cap of $44.44 billion, a P/E ratio of 38.61, a P/E/G ratio of 4.48 and a beta of 1.01.

Fastenal (NASDAQ:FAST - Get Free Report) last released its earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. The firm had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The company's revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. On average, sell-side analysts expect that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, October 25th. Fastenal's dividend payout ratio (DPR) is presently 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.