Fastenal (NASDAQ:FAST) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its holdings in shares of Fastenal (NASDAQ:FAST - Free Report) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,766,143 shares of the company's stock after selling 64,808 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 2.41% of Fastenal worth $887,277,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Hartford Financial Management Inc. raised its position in shares of Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company's stock valued at $31,000 after purchasing an additional 153 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Fastenal in the fourth quarter worth $35,000. Criterion Capital Advisors LLC purchased a new position in shares of Fastenal in the fourth quarter valued at $43,000. First Horizon Advisors Inc. lifted its holdings in Fastenal by 283.2% during the 4th quarter. First Horizon Advisors Inc. now owns 755 shares of the company's stock worth $49,000 after purchasing an additional 558 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Fastenal by 77.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company's stock worth $70,000 after purchasing an additional 474 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Insider Activity at Fastenal

In other Fastenal news, insider Jeffery Michael Watts sold 19,420 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $70.25, for a total value of $1,364,255.00. Following the completion of the sale, the insider now owns 5,940 shares in the company, valued at $417,285. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jeffery Michael Watts sold 19,420 shares of the company's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total transaction of $1,364,255.00. Following the completion of the transaction, the insider now directly owns 5,940 shares of the company's stock, valued at $417,285. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel L. Johnson bought 3,350 shares of the company's stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the acquisition, the director now owns 10,595 shares of the company's stock, valued at approximately $724,486.10. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. HSBC increased their price target on shares of Fastenal from $59.00 to $64.00 and gave the stock a "hold" rating in a report on Monday, April 15th. Loop Capital decreased their price target on shares of Fastenal from $71.00 to $66.00 and set a "hold" rating on the stock in a report on Monday, April 15th. Stifel Nicolaus lifted their price objective on Fastenal from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, March 18th. Finally, Robert W. Baird dropped their price target on Fastenal from $71.00 to $69.00 and set a "neutral" rating for the company in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $67.33.

Fastenal Price Performance

Shares of NASDAQ FAST traded up $0.37 during trading hours on Wednesday, reaching $66.78. 3,945,343 shares of the stock traded hands, compared to its average volume of 3,962,624. The company has a market capitalization of $38.23 billion, a P/E ratio of 32.88, a price-to-earnings-growth ratio of 3.58 and a beta of 1.07. The company's 50-day simple moving average is $72.87 and its two-hundred day simple moving average is $67.29. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. Fastenal has a 52-week low of $52.86 and a 52-week high of $79.04.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.01). The business had revenue of $1.90 billion during 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% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. Equities research analysts forecast that Fastenal will post 2.12 EPS for the current year.

Fastenal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.34%. The ex-dividend date is Wednesday, April 24th. Fastenal's dividend payout ratio is presently 77.23%.

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.