Fastenal (NASDAQ:FAST) Shares Sold by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC lessened its stake in Fastenal (NASDAQ:FAST - Free Report) by 36.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,527 shares of the company's stock after selling 7,857 shares during the quarter. Gladstone Institutional Advisory LLC's holdings in Fastenal were worth $966,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Central Valley Advisors LLC purchased a new position in shares of Fastenal during the second quarter worth $28,000. Moisand Fitzgerald Tamayo LLC boosted its holdings in Fastenal by 1,019.0% in 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 during the period. LRI Investments LLC purchased a new position in Fastenal in the first quarter valued at $39,000. Triad Wealth Partners LLC purchased a new position in Fastenal in the second quarter valued at $32,000. Finally, Crewe Advisors LLC lifted its holdings in Fastenal by 528.4% during the 2nd quarter. Crewe Advisors LLC now owns 509 shares of the company's stock worth $32,000 after buying an additional 428 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Fastenal Stock Performance

FAST traded up $0.05 during trading on Friday, reaching $78.23. The company's stock had a trading volume of 3,340,019 shares, compared to its average volume of 3,121,971. Fastenal has a 52-week low of $58.23 and a 52-week high of $79.04. The company's fifty day moving average price is $71.94 and its 200-day moving average price is $68.23. The company has a market capitalization of $44.82 billion, a price-to-earnings ratio of 38.92, a price-to-earnings-growth ratio of 4.58 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 4.40.

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

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Friday, October 25th. Fastenal's dividend payout ratio (DPR) is 77.61%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Robert W. Baird lifted their price target on Fastenal from $67.00 to $80.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Morgan Stanley lifted their price target on Fastenal from $72.00 to $76.00 and gave the stock an "equal weight" rating in a report on Monday, October 14th. Stifel Nicolaus reaffirmed 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. Bank of America initiated coverage on Fastenal in a research report on Monday, October 7th. They set a "buy" rating and a $85.00 target price on the stock. Finally, Stephens lifted their target price on Fastenal from $56.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, October 14th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $73.33.

Insider Transactions at Fastenal

In other news, EVP Anthony Paul Broersma sold 680 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Fastenal news, CEO Daniel L. Florness sold 45,744 shares of the business's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value of $3,116,996.16. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $19,489,266.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Anthony Paul Broersma sold 680 shares of the business's stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total value of $52,944.80. The disclosure for this sale can be found here. Insiders have sold 190,261 shares of company stock valued at $13,874,979 in the last quarter. 0.41% of the stock is currently owned by corporate insiders.

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.