Ossiam Sells 22,484 Shares of Fastenal (NASDAQ:FAST)

Ossiam decreased its holdings in Fastenal (NASDAQ:FAST - Free Report) by 62.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,293 shares of the company's stock after selling 22,484 shares during the quarter. Ossiam's holdings in Fastenal were worth $956,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Anchor Investment Management LLC lifted its position in Fastenal by 3.4% in the 4th quarter. Anchor Investment Management LLC now owns 4,134 shares of the company's stock valued at $297,000 after acquiring an additional 135 shares in the last quarter. HB Wealth Management LLC lifted its position in shares of Fastenal by 1.2% during the 4th quarter. HB Wealth Management LLC now owns 11,674 shares of the company's stock worth $840,000 after buying an additional 142 shares in the last quarter. Cozad Asset Management Inc. lifted its position in shares of Fastenal by 5.5% during the 4th quarter. Cozad Asset Management Inc. now owns 2,985 shares of the company's stock worth $215,000 after buying an additional 155 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of Fastenal by 0.7% during the 4th quarter. Neuberger Berman Group LLC now owns 21,857 shares of the company's stock worth $1,572,000 after buying an additional 159 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its position in shares of Fastenal by 2.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 7,008 shares of the company's stock worth $504,000 after buying an additional 164 shares in the last quarter. Institutional investors own 81.38% of the company's stock.

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 shares were sold at an average price of $81.31, for a total value of $1,219,650.00. Following the completion of the transaction, the executive vice president now directly owns 5,997 shares in the company, valued at approximately $487,616.07. The trade was a 71.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.37% of the company's stock.

Wall Street Analysts Forecast Growth

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

Fastenal Stock Performance

Fastenal stock traded down $1.37 during mid-day trading on Friday, reaching $80.73. The company's stock had a trading volume of 3,196,449 shares, compared to its average volume of 3,094,554. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The company has a market capitalization of $46.31 billion, a P/E ratio of 40.16, a PEG ratio of 3.58 and a beta of 1.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The firm's fifty day moving average price is $76.93 and its two-hundred day moving average price is $77.09.

Fastenal's stock is scheduled to split before the market opens on Thursday, May 22nd. The 2-1 split was announced on Wednesday, April 23rd. The newly created shares will be distributed to shareholders after the market closes 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, meeting analysts' consensus estimates of $0.52. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business earned $0.52 EPS. Fastenal's revenue was up 3.4% compared to the same quarter last year. Sell-side analysts predict that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be given a dividend of $0.44 per share. This is a positive change from Fastenal's previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, April 25th. Fastenal's payout ratio is 87.56%.

Fastenal Company 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.