Wellington Management Group LLP Has $26.27 Million Stake in Fastenal (NASDAQ:FAST)

Wellington Management Group LLP lessened its stake in Fastenal (NASDAQ:FAST - Free Report) by 31.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 367,788 shares of the company's stock after selling 168,603 shares during the period. Wellington Management Group LLP owned 0.06% of Fastenal worth $26,267,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in Fastenal by 5.1% in the third quarter. State Street Corp now owns 27,989,485 shares of the company's stock valued at $1,999,009,000 after acquiring an additional 1,346,863 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Fastenal by 4,008.2% in the 2nd 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 last quarter. Dimensional Fund Advisors LP grew its position in shares of Fastenal by 19.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,837,530 shares of the company's stock worth $241,161,000 after buying an additional 636,546 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of 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 buying an additional 608,596 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Fastenal in the second quarter valued at approximately $37,659,000. Institutional investors and hedge funds own 81.38% of the company's stock.

Insider Transactions at Fastenal

In other Fastenal news, CFO Holden Lewis sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.52, for a total value of $2,295,600.00. Following the completion of the transaction, the chief financial officer now directly owns 9,881 shares in the company, valued at $756,094.12. This trade represents a 75.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP John Lewis Soderberg sold 488 shares of the business's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.32, for a total value of $37,244.16. The disclosure for this sale can be found here. Insiders sold 158,289 shares of company stock valued at $12,639,438 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FAST has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of Fastenal from $72.00 to $76.00 and gave the stock an "equal weight" rating in a report on Monday, October 14th. Jefferies Financial Group upped their price objective on Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a report on Friday, December 6th. Hsbc Global Res lowered Fastenal from a "hold" rating to a "moderate sell" rating in a research note on Wednesday. UBS Group began coverage on Fastenal in a research report on Wednesday, November 13th. They set a "neutral" rating and a $88.00 target price for the company. Finally, Bank of America began coverage on shares of Fastenal in a research report on Monday, October 7th. They issued a "buy" rating and a $85.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $77.40.

Fastenal Stock Down 0.7 %

Shares of Fastenal stock traded down $0.57 on Friday, hitting $78.47. The company had a trading volume of 2,387,306 shares, compared to its average volume of 3,238,986. The stock has a 50-day moving average of $79.47 and a 200-day moving average of $71.28. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. Fastenal has a twelve month low of $61.33 and a twelve month high of $84.88. The firm 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.

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. Research analysts predict that Fastenal will post 2.03 earnings per share for the current year.

Fastenal Announces Dividend

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

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.