Fastenal Company (NASDAQ:FAST) Stock Holdings Cut by Oak Thistle LLC

Key Points

• Oak Thistle LLC significantly reduced its holdings in Fastenal Company by 84.5%, selling 28,673 shares and holding just 5,262 shares worth $408,000.
• Fastenal reported a quarterly earnings per share of $0.29, exceeding analysts' expectations by $0.01, with revenue reaching $2.08 billion, an 8.6% increase year-over-year.
• Analysts' ratings of Fastenal vary, with one sell, eight holds, and three buy ratings, and the consensus price target currently at $45.64.

Oak Thistle LLC trimmed its position in Fastenal Company (NASDAQ:FAST - Free Report) by 84.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,262 shares of the company's stock after selling 28,673 shares during the quarter. Oak Thistle LLC's holdings in Fastenal were worth $408,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its position in Fastenal by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company's stock valued at $3,817,000 after purchasing an additional 130 shares during the period. Anchor Investment Management LLC raised its holdings in shares of Fastenal by 3.4% during the 4th quarter. Anchor Investment Management LLC now owns 4,134 shares of the company's stock valued at $297,000 after buying an additional 135 shares during the period. Welch & Forbes LLC raised its holdings in shares of Fastenal by 0.4% during the 1st quarter. Welch & Forbes LLC now owns 32,992 shares of the company's stock valued at $2,559,000 after buying an additional 135 shares during the period. Principal Securities Inc. raised its stake in shares of Fastenal by 0.9% during the first quarter. Principal Securities Inc. now owns 15,886 shares of the company's stock valued at $1,142,000 after purchasing an additional 140 shares during the period. Finally, Salvus Wealth Management LLC raised its stake in shares of Fastenal by 1.6% during the first quarter. Salvus Wealth Management LLC now owns 9,000 shares of the company's stock valued at $698,000 after purchasing an additional 141 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Fastenal from $43.00 to $47.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Stephens lifted their price target on shares of Fastenal from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Stifel Nicolaus set a $82.00 target price on Fastenal in a research report on Thursday, July 3rd. Loop Capital reaffirmed a "hold" rating on shares of Fastenal in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. lifted their target price on Fastenal from $38.00 to $41.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $45.64.

Fastenal Stock Performance

Shares of NASDAQ FAST traded down $0.04 during trading on Tuesday, reaching $46.55. The stock had a trading volume of 1,322,053 shares, compared to its average volume of 6,662,164. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.12 and a current ratio of 4.22. Fastenal Company has a one year low of $32.04 and a one year high of $48.10. The firm's 50 day moving average price is $42.85 and its two-hundred day moving average price is $39.98. The stock has a market cap of $53.42 billion, a PE ratio of 44.76, a P/E/G ratio of 4.36 and a beta of 0.96.

Fastenal (NASDAQ:FAST - Get Free Report) last posted its earnings results on Monday, July 14th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.07 billion. Fastenal had a return on equity of 32.33% and a net margin of 15.30%. The business's revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 earnings per share. On average, research analysts forecast that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, July 29th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, July 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.89%. Fastenal's dividend payout ratio is currently 84.62%.

Insider Transactions at Fastenal

In other Fastenal news, Director Scott Satterlee sold 19,340 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $39.76, for a total value of $768,861.70. Following the completion of the transaction, the director owned 50,000 shares in the company, valued at approximately $1,987,750. This represents a 27.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of the company's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $45.21, for a total transaction of $951,760.92. Following the completion of the transaction, the chief financial officer owned 10,192 shares of the company's stock, valued at approximately $460,780.32. This trade represents a 67.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,116 shares of company stock worth $3,069,670. Insiders own 0.37% of the company's stock.

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.