Fastenal Company (NASDAQ:FAST) Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC trimmed its stake in Fastenal Company (NASDAQ:FAST - Free Report) by 8.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,477 shares of the company's stock after selling 19,044 shares during the period. Madison Asset Management LLC's holdings in Fastenal were worth $16,012,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund lifted its stake in shares of Fastenal by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company's stock worth $3,817,000 after acquiring an additional 130 shares during the period. Anchor Investment Management LLC lifted its stake in shares of Fastenal by 3.4% in the 4th quarter. Anchor Investment Management LLC now owns 4,134 shares of the company's stock worth $297,000 after acquiring an additional 135 shares during the period. Welch & Forbes LLC lifted its stake in shares of Fastenal by 0.4% in the first quarter. Welch & Forbes LLC now owns 32,992 shares of the company's stock valued at $2,559,000 after purchasing an additional 135 shares during the period. Principal Securities Inc. lifted its stake in shares of Fastenal by 0.9% in 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 lifted its stake in shares of Fastenal by 1.6% in 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 owned by hedge funds and other institutional investors.

Fastenal Trading Down 0.4%

Fastenal stock traded down $0.18 during trading on Friday, reaching $47.75. The company had a trading volume of 5,507,497 shares, compared to its average volume of 6,903,187. Fastenal Company has a 12-month low of $32.04 and a 12-month high of $48.10. The stock's 50 day moving average price is $42.75 and its two-hundred day moving average price is $39.88. The firm has a market capitalization of $54.80 billion, a price-to-earnings ratio of 45.91, a PEG ratio of 4.36 and a beta of 0.96. 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 (NASDAQ:FAST - Get Free Report) last released its earnings results on Monday, July 14th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. Fastenal had a net margin of 15.30% and a return on equity of 32.33%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. Fastenal's revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts expect that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, July 29th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, July 29th. This represents a $0.88 annualized dividend and a yield of 1.84%. Fastenal's dividend payout ratio is currently 84.62%.

Insiders Place Their Bets

In other Fastenal news, EVP John Lewis Soderberg sold 32,724 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $41.23, for a total transaction of $1,349,046.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sheryl Ann Lisowski sold 21,052 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $45.21, for a total transaction of $951,760.92. Following the sale, the chief financial officer owned 10,192 shares of the company's stock, valued at approximately $460,780.32. This represents a 67.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,116 shares of company stock worth $3,069,670 over the last ninety days. 0.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on FAST shares. Loop Capital reiterated a "hold" rating on shares of Fastenal in a research note on Tuesday, July 15th. JPMorgan Chase & Co. lifted their target price on shares of Fastenal from $38.00 to $41.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Robert W. Baird lifted their target price on shares of Fastenal from $43.00 to $47.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Stifel Nicolaus set a $82.00 target price on shares of Fastenal in a research report on Thursday, July 3rd. Finally, Stephens lifted their target price on shares of Fastenal from $40.00 to $45.00 and gave the stock an "equal weight" 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $45.64.

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.