KG&L Capital Management LLC Has $227,000 Position in Fastenal (NASDAQ:FAST)

KG&L Capital Management LLC lowered its position in Fastenal (NASDAQ:FAST) by 37.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,182 shares of the company’s stock after selling 1,905 shares during the period. KG&L Capital Management LLC’s holdings in Fastenal were worth $227,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FAST. Norden Group LLC raised its holdings in Fastenal by 57.9% during the 1st quarter. Norden Group LLC now owns 7,399 shares of the company’s stock worth $571,000 after buying an additional 2,712 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in Fastenal by 5.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 4,307 shares of the company’s stock valued at $332,000 after acquiring an additional 205 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Fastenal by 98.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 118,301 shares of the company’s stock worth $9,126,000 after purchasing an additional 58,726 shares during the period. Larson Financial Group LLC increased its holdings in Fastenal by 26.0% during the 1st quarter. Larson Financial Group LLC now owns 10,163 shares of the company’s stock worth $784,000 after purchasing an additional 2,094 shares in the last quarter. Finally, Catalina Capital Group LLC acquired a new stake in Fastenal in the 1st quarter valued at approximately $237,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FAST has been the subject of several research reports. Robert W. Baird raised their price target on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Morgan Stanley upped their target price on 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 lowered their price target on Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Stifel Nicolaus reiterated a “buy” rating and issued a $86.00 price target (up previously from $80.00) on shares of Fastenal in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Fastenal has an average rating of “Hold” and an average price target of $73.33.

Fastenal Price Performance

Fastenal stock opened at $77.82 on Tuesday. The stock’s 50 day moving average is $72.14 and its 200-day moving average is $68.30. The company has a market capitalization of $44.58 billion, a price-to-earnings ratio of 38.72, a PEG ratio of 4.58 and a beta of 0.99. Fastenal has a 12 month low of $58.23 and a 12 month high of $79.04. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a net margin of 15.44% and a return on equity of 33.30%. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the previous year, the business posted $0.52 earnings per share. Fastenal’s quarterly revenue was up 3.5% on a year-over-year basis. Equities research analysts expect 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 given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s dividend payout ratio is currently 77.61%.

Insiders Place Their Bets

In other news, VP John Lewis Soderberg sold 488 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP John Lewis Soderberg sold 488 shares of Fastenal stock in a transaction that occurred on 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 is available through the SEC website. Also, EVP Anthony Paul Broersma sold 680 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total value of $52,944.80. The disclosure for this sale can be found here. Insiders have sold a total of 190,261 shares of company stock worth $13,874,979 in the last 90 days. Company insiders own 0.41% of the company’s stock.

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.