Crew Capital Management Ltd. Acquires 1,956 Shares of Fastenal (NASDAQ:FAST)

Crew Capital Management Ltd. lifted its holdings in shares of Fastenal (NASDAQ:FAST) by 15.7% in the third quarter, Holdings Channel.com reports. The fund owned 14,437 shares of the company’s stock after purchasing an additional 1,956 shares during the quarter. Crew Capital Management Ltd.’s holdings in Fastenal were worth $1,031,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC lifted its holdings in Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after purchasing an additional 391 shares during the last quarter. Central Valley Advisors LLC bought a new position in Fastenal during the 2nd quarter valued at about $28,000. Moisand Fitzgerald Tamayo LLC lifted its holdings in Fastenal by 1,019.0% during the 3rd 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 last quarter. LRI Investments LLC bought a new position in Fastenal during the 1st quarter valued at about $39,000. Finally, Triad Wealth Partners LLC bought a new position in Fastenal during the 2nd quarter valued at about $32,000. 81.38% of the stock is owned by institutional investors.

Insider Transactions at Fastenal

In other news, VP John Lewis Soderberg sold 488 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $76.32, for a total value of $37,244.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP John Lewis Soderberg sold 488 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.32, for a total transaction of $37,244.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Anthony Paul Broersma sold 680 shares of the 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 disclosure for this sale can be found here. Insiders have sold 179,373 shares of company stock worth $13,029,308 in the last ninety days. Insiders own 0.41% of the company’s stock.

Fastenal Stock Down 0.7 %

Shares of Fastenal stock traded down $0.57 on Monday, hitting $77.33. The company had a trading volume of 813,183 shares, compared to its average volume of 3,353,249. The firm has a market capitalization of $44.28 billion, a P/E ratio of 38.76, a P/E/G ratio of 4.13 and a beta of 1.01. Fastenal has a twelve month low of $56.41 and a twelve month high of $79.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. The stock has a 50-day moving average of $69.92 and a 200-day moving average of $67.91.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 15.54% and a return on equity of 33.54%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Research analysts predict that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, October 25th. Fastenal’s dividend payout ratio is currently 77.61%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Robert W. Baird lifted their price target on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Jefferies Financial Group dropped their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Stephens boosted their target price on shares of Fastenal from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $86.00 target price (up from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Finally, Bank of America initiated coverage on shares of Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $73.33.

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.