Fastenal (NASDAQ:FAST) Shares Sold by Progressive Investment Management Corp

Progressive Investment Management Corp cut its holdings in Fastenal (NASDAQ:FAST) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 132,306 shares of the company’s stock after selling 1,023 shares during the period. Fastenal comprises approximately 2.4% of Progressive Investment Management Corp’s holdings, making the stock its 20th biggest position. Progressive Investment Management Corp’s holdings in Fastenal were worth $9,449,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Fastenal during the 3rd quarter valued at about $25,000. Knuff & Co LLC acquired a new position in shares of Fastenal during the 3rd quarter valued at $27,000. Central Valley Advisors LLC acquired a new position in shares of Fastenal during the 2nd quarter valued at $28,000. Moisand Fitzgerald Tamayo LLC raised its stake in shares of Fastenal by 1,019.0% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after buying an additional 428 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Fastenal in the first quarter valued at $39,000. Institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on FAST. Bank of America started coverage on Fastenal in a research note on Monday, October 7th. They issued a “buy” rating and a $85.00 price target on the stock. Stifel Nicolaus restated a “buy” rating and issued a $86.00 target price (up previously from $80.00) on shares of Fastenal in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their price target on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. UBS Group started coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective for the company. Finally, Robert W. Baird upped their target price on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $74.80.

Insider Buying and Selling at Fastenal

In other news, CAO Sheryl Ann Lisowski sold 13,567 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now owns 5,096 shares of the company’s stock, valued at approximately $388,264.24. The trade was a 72.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel L. Johnson sold 8,474 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total transaction of $706,392.64. Following the transaction, the director now owns 10,595 shares in the company, valued at approximately $883,199.20. The trade was a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,289 shares of company stock valued at $16,123,438 in the last three months. 0.41% of the stock is currently owned by company insiders.

Fastenal Stock Performance

FAST stock opened at $81.20 on Wednesday. The company has a 50 day moving average price of $75.49 and a 200 day moving average price of $69.43. The stock has a market capitalization of $46.52 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 4.80 and a beta of 0.99. Fastenal has a fifty-two week low of $59.47 and a fifty-two week high of $84.88. 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 (NASDAQ:FAST) last announced its quarterly earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The business’s revenue 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. Analysts forecast that Fastenal will post 2.03 EPS for the current year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be paid a $0.39 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 1.92%. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

Fastenal Company 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.