Fastenal (NASDAQ:FAST) Shares Sold by Mcdonald Capital Investors Inc. CA

Mcdonald Capital Investors Inc. CA lowered its position in Fastenal (NASDAQ:FAST - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,117,678 shares of the company's stock after selling 21,936 shares during the quarter. Fastenal makes up approximately 5.0% of Mcdonald Capital Investors Inc. CA's portfolio, making the stock its 8th biggest position. Mcdonald Capital Investors Inc. CA owned about 0.20% of Fastenal worth $72,392,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank purchased a new position in shares of Fastenal in the fourth quarter valued at about $268,570,000. Morgan Stanley raised its position in Fastenal by 37.8% during the 4th quarter. Morgan Stanley now owns 9,092,207 shares of the company's stock valued at $430,243,000 after purchasing an additional 2,492,722 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Fastenal by 47.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,691,506 shares of the company's stock worth $256,344,000 after buying an additional 1,505,936 shares during the period. Invesco Ltd. grew its position in shares of Fastenal by 16.5% in the 3rd quarter. Invesco Ltd. now owns 6,745,302 shares of the company's stock worth $368,563,000 after buying an additional 957,091 shares during the last quarter. Finally, Select Equity Group L.P. increased its stake in shares of Fastenal by 60.2% during the first quarter. Select Equity Group L.P. now owns 2,481,822 shares of the company's stock valued at $133,869,000 after buying an additional 933,068 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Charles S. Miller sold 23,590 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $69.25, for a total value of $1,633,607.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Charles S. Miller sold 23,590 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $69.25, for a total value of $1,633,607.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reyne K. Wisecup sold 34,042 shares of the firm's stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $68.48, for a total value of $2,331,196.16. Following the sale, the director now directly owns 20,000 shares in the company, valued at $1,369,600. The disclosure for this sale can be found here. Insiders have sold a total of 105,682 shares of company stock valued at $7,375,853 in the last ninety days. Corporate insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Stifel Nicolaus upped their price objective on shares of Fastenal from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, March 18th. Loop Capital reduced their target price on Fastenal from $71.00 to $66.00 and set a "hold" rating on the stock in a report on Monday. HSBC raised their target price on Fastenal from $59.00 to $64.00 and gave the company a "hold" rating in a research note on Monday. Finally, Robert W. Baird decreased their price objective on Fastenal from $77.00 to $71.00 and set a "neutral" rating for the company in a report on Friday. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $67.67.

Fastenal Stock Performance

Shares of FAST stock traded down $1.06 on Monday, reaching $69.39. The stock had a trading volume of 4,439,417 shares, compared to its average volume of 4,074,303. The stock has a market cap of $39.71 billion, a P/E ratio of 34.51, a price-to-earnings-growth ratio of 3.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. Fastenal has a 1 year low of $52.28 and a 1 year high of $79.04. The company has a 50 day simple moving average of $73.74 and a 200 day simple moving average of $65.98.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. Fastenal's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 EPS. Equities research analysts expect that Fastenal will post 2.15 EPS for the current year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Wednesday, April 24th. Fastenal's payout ratio is 77.23%.

About Fastenal

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.