Toronto Dominion Bank Sells 83,028 Shares of Fastenal (NASDAQ:FAST)

Toronto Dominion Bank lessened its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 28.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 205,358 shares of the company's stock after selling 83,028 shares during the period. Toronto Dominion Bank's holdings in Fastenal were worth $14,667,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of FAST. Swedbank AB increased its holdings in Fastenal by 1.8% during the second quarter. Swedbank AB now owns 347,959 shares of the company's stock worth $21,866,000 after buying an additional 6,251 shares during the last quarter. Fiduciary Financial Group LLC acquired a new stake in Fastenal in the 2nd quarter valued at about $261,000. Triad Wealth Partners LLC acquired a new position in Fastenal during the second quarter worth approximately $32,000. Blue Trust Inc. raised its stake in Fastenal by 63.2% in the second quarter. Blue Trust Inc. now owns 3,699 shares of the company's stock valued at $232,000 after buying an additional 1,432 shares during the period. Finally, Brookstone Capital Management lifted its position in shares of Fastenal by 10.6% in the second quarter. Brookstone Capital Management now owns 4,530 shares of the company's stock valued at $285,000 after buying an additional 436 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fastenal

In other Fastenal news, Director Daniel L. Johnson sold 8,474 shares of the business's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total transaction of $706,392.64. Following the sale, the director now owns 10,595 shares of the company's stock, valued at approximately $883,199.20. The trade was a 44.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sheryl Ann Lisowski sold 13,567 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $76.19, for a total value of $1,033,669.73. Following the completion of the transaction, the chief accounting officer now owns 5,096 shares of the company's stock, valued at $388,264.24. The trade was a 72.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 158,289 shares of company stock valued at $12,639,438 over the last three months. 0.41% of the stock is owned by insiders.

Fastenal Price Performance

NASDAQ:FAST traded down $0.57 during trading hours on Friday, reaching $78.47. 2,387,306 shares of the company were exchanged, compared to its average volume of 3,238,986. The company has a market capitalization of $44.95 billion, a P/E ratio of 39.04, a P/E/G ratio of 4.69 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. The business has a 50 day moving average of $79.47 and a 200 day moving average of $71.33. Fastenal has a 1-year low of $61.33 and a 1-year high of $84.88.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings results on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. The company had revenue of $1.91 billion for 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%. Fastenal's revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business earned $0.52 earnings per share. Research analysts forecast that Fastenal will post 2.03 EPS for the current year.

Fastenal Announces Dividend

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

Analyst Upgrades and Downgrades

FAST has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on Fastenal from $57.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Hsbc Global Res lowered shares of Fastenal from a "hold" rating to a "moderate sell" rating in a research report on Wednesday. Stephens lifted their target price on shares of Fastenal from $56.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, October 14th. Stifel Nicolaus cut shares of Fastenal from a "buy" rating to a "hold" rating and set a $86.00 price target on the stock. in a report on Wednesday. Finally, HSBC cut Fastenal from a "hold" rating to a "reduce" rating and set a $70.00 price objective for the company. in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $77.40.

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.