Fastenal (NASDAQ:FAST) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its position in shares of Fastenal (NASDAQ:FAST - Free Report) by 8.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,723 shares of the company's stock after selling 7,234 shares during the period. Pacer Advisors Inc.'s holdings in Fastenal were worth $5,373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its position in shares of Fastenal by 5.1% during the 3rd quarter. State Street Corp now owns 27,989,485 shares of the company's stock worth $1,999,009,000 after acquiring an additional 1,346,863 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Fastenal by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 19,878,045 shares of the company's stock worth $1,419,690,000 after purchasing an additional 608,596 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Fastenal by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 16,683,751 shares of the company's stock worth $1,188,251,000 after buying an additional 880,372 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Fastenal by 5.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,718,200 shares of the company's stock valued at $336,974,000 after buying an additional 226,126 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Fastenal by 3.8% in the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company's stock valued at $350,703,000 after buying an additional 165,423 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Fastenal Stock Performance

Shares of Fastenal stock traded up $0.90 on Thursday, reaching $74.98. 2,928,834 shares of the stock were exchanged, compared to its average volume of 3,199,610. The firm has a market capitalization of $42.96 billion, a PE ratio of 37.30, a PEG ratio of 3.60 and a beta of 1.02. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The business has a fifty day moving average price of $76.78 and a two-hundred day moving average price of $73.68. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST - Get Free Report) last released its earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the business posted $0.46 EPS. Fastenal's revenue was up 3.7% compared to the same quarter last year. As a group, research analysts anticipate that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Fastenal's previous quarterly dividend of $0.39. Fastenal's payout ratio is 77.61%.

Insider Buying and Selling at Fastenal

In other news, CEO Daniel L. Florness sold 31,818 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the sale, the chief executive officer now owns 286,018 shares in the company, valued at approximately $24,168,521. The trade was a 10.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Charles S. Miller sold 23,480 shares of Fastenal stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total transaction of $1,970,441.60. The disclosure for this sale can be found here. Insiders have sold 63,772 shares of company stock valued at $5,365,455 over the last quarter. Corporate insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. HSBC downgraded shares of Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 price objective for the company. in a research note on Wednesday, December 11th. Robert W. Baird raised their price target on Fastenal from $67.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on Fastenal from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Wolfe Research raised their target price on shares of Fastenal from $74.00 to $76.00 and gave the stock an "underweight" rating in a research report on Thursday, January 16th. Finally, Stephens lifted their target price 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Fastenal presently has an average rating of "Hold" and a consensus price target of $76.91.

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.