Jump Financial LLC Sells 5,871 Shares of Fastenal (NASDAQ:FAST)

Jump Financial LLC trimmed its stake in shares of Fastenal (NASDAQ:FAST - Free Report) by 32.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,283 shares of the company's stock after selling 5,871 shares during the quarter. Jump Financial LLC's holdings in Fastenal were worth $883,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FAST. OFI Invest Asset Management purchased a new stake in shares of Fastenal in the fourth quarter worth about $46,000. Whipplewood Advisors LLC purchased a new stake in Fastenal in the 4th quarter worth approximately $49,000. SBI Securities Co. Ltd. bought a new position in Fastenal in the 4th quarter valued at $49,000. R Squared Ltd purchased a new position in shares of Fastenal during the 4th quarter valued at $68,000. Finally, Eastern Bank increased its holdings in shares of Fastenal by 440.7% in the fourth quarter. Eastern Bank now owns 984 shares of the company's stock worth $71,000 after purchasing an additional 802 shares during the period. Hedge funds and other institutional investors own 81.38% of the company's stock.

Wall Street Analysts Forecast Growth

FAST has been the subject of several research analyst reports. Stephens lifted their price objective on Fastenal from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 15th. Wolfe Research raised Fastenal from an "underperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. William Blair raised shares of Fastenal from a "market perform" rating to an "outperform" rating in a research note on Monday, March 10th. Stifel Nicolaus cut their price target on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. Finally, Robert W. Baird increased their price target on shares of Fastenal from $80.00 to $86.00 and gave the stock a "neutral" rating in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Fastenal has an average rating of "Hold" and an average price target of $79.10.

Fastenal Trading Down 1.7 %

Shares of FAST traded down $1.37 during trading hours on Friday, hitting $80.73. The company had a trading volume of 3,196,449 shares, compared to its average volume of 3,094,554. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The stock's 50 day moving average price is $76.93 and its 200 day moving average price is $77.09. The firm has a market cap of $46.31 billion, a P/E ratio of 40.16, a P/E/G ratio of 3.58 and a beta of 1.05.

Shares of Fastenal are going to split on the morning of Thursday, May 22nd. The 2-1 split was announced on Wednesday, April 23rd. The newly created shares will be issued to shareholders after the closing bell on Wednesday, May 21st.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. The business had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $1.94 billion. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The business's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. On average, research analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.18%. This is a boost from Fastenal's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, April 25th. Fastenal's dividend payout ratio (DPR) is currently 87.56%.

Insider Activity

In related news, EVP William Joseph Drazkowski sold 15,000 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $81.31, for a total value of $1,219,650.00. Following the sale, the executive vice president now directly owns 5,997 shares of the company's stock, valued at $487,616.07. This represents a 71.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.