Griffin Asset Management Inc. Sells 1,135 Shares of Fastenal (NASDAQ:FAST)

Griffin Asset Management Inc. lessened its position in shares of Fastenal (NASDAQ:FAST) by 5.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,784 shares of the company’s stock after selling 1,135 shares during the period. Griffin Asset Management Inc.’s holdings in Fastenal were worth $1,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of FAST. Hennion & Walsh Asset Management Inc. grew its position in Fastenal by 135.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,607 shares of the company’s stock worth $1,281,000 after buying an additional 9,546 shares in the last quarter. MCF Advisors LLC increased its holdings in shares of Fastenal by 2,172.2% in the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after buying an additional 391 shares during the last quarter. Kathmere Capital Management LLC raised its position in shares of Fastenal by 35.0% during the 1st quarter. Kathmere Capital Management LLC now owns 7,606 shares of the company’s stock valued at $587,000 after buying an additional 1,972 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Fastenal by 17.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 199,562 shares of the company’s stock worth $15,394,000 after acquiring an additional 29,190 shares during the last quarter. Finally, Janiczek Wealth Management LLC grew its position in Fastenal by 51.8% in the first quarter. Janiczek Wealth Management LLC now owns 5,285 shares of the company’s stock worth $408,000 after acquiring an additional 1,804 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Daniel L. Johnson bought 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The stock was bought at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the purchase, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Fastenal news, Director Daniel L. Johnson purchased 3,350 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was bought at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the purchase, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James C. Jansen sold 11,428 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total transaction of $732,191.96. Following the sale, the executive vice president now directly owns 26,176 shares in the company, valued at approximately $1,677,096.32. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FAST. Robert W. Baird cut their price objective on Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. HSBC boosted their price objective on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Loop Capital reduced their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Finally, Stifel Nicolaus boosted their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fastenal presently has an average rating of “Hold” and a consensus price target of $68.80.

Fastenal Trading Down 0.8 %

Shares of NASDAQ FAST traded down $0.49 during trading hours on Friday, hitting $62.84. The company’s stock had a trading volume of 5,921,891 shares, compared to its average volume of 3,313,607. Fastenal has a 12 month low of $53.83 and a 12 month high of $79.04. The stock has a market cap of $35.98 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 3.38 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. The business has a 50-day simple moving average of $65.84 and a 200-day simple moving average of $68.59.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. Fastenal’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 earnings per share. On average, analysts anticipate that Fastenal will post 2.08 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th were issued a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.48%. Fastenal’s dividend payout ratio (DPR) is presently 77.23%.

Fastenal 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.