Fastenal (NASDAQ:FAST) Stock Position Lessened by Shell Asset Management Co. (2024)

Shell Asset Management Co. decreased its holdings in Fastenal (NASDAQ:FAST - Free Report) by 20.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 105,973 shares of the company's stock after selling 27,404 shares during the quarter. Shell Asset Management Co.'s holdings in Fastenal were worth $6,864,000 as of its most recent filing with the SEC.

• Dividend Aristocrat Fastenal Goes on Sale: Buy It While It’s Down

Several other institutional investors have also modified their holdings of FAST. Essex Financial Services Inc. increased its position in Fastenal by 1.8% in the 4th quarter. Essex Financial Services Inc. now owns 8,539 shares of the company's stock worth $553,000 after purchasing an additional 148 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Fastenal by 0.8% during the 4th quarter. Panagora Asset Management Inc. now owns 19,095 shares of the company's stock valued at $1,237,000 after acquiring an additional 152 shares during the last quarter. Hartford Financial Management Inc. increased its holdings in shares of Fastenal by 46.9% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company's stock valued at $31,000 after acquiring an additional 153 shares during the last quarter. Accredited Investors Inc. increased its holdings in shares of Fastenal by 0.9% during the 4th quarter. Accredited Investors Inc. now owns 18,129 shares of the company's stock valued at $1,174,000 after acquiring an additional 164 shares during the last quarter. Finally, Empirical Asset Management LLC increased its holdings in shares of Fastenal by 2.4% during the 4th quarter. Empirical Asset Management LLC now owns 7,212 shares of the company's stock valued at $467,000 after acquiring an additional 171 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Fastenal Price Performance

Shares of Fastenal stock traded down $0.11 during midday trading on Monday, hitting $63.78. 98,240 shares of the company were exchanged, compared to its average volume of 3,798,743. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The firm has a market cap of $36.52 billion, a P/E ratio of 31.63, a PEG ratio of 3.39 and a beta of 1.02. Fastenal has a 52 week low of $53.83 and a 52 week high of $79.04. The firm has a 50 day simple moving average of $68.38 and a 200-day simple moving average of $68.38.

• Fastenal or Simpson Manufacturing: Which is the Better Buy?

Fastenal (NASDAQ:FAST - Get Free Report) last posted its 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). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the business earned $0.52 EPS. Fastenal's quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts forecast that Fastenal will post 2.09 earnings per share for the current year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th were given a $0.39 dividend. The ex-dividend date was Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.45%. Fastenal's payout ratio is 77.23%.

Insider Buying and Selling at Fastenal

• 3 Dividend Stocks to Buy if You Believe Inflation is Coming Back

In other news, Director Daniel L. Johnson bought 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The stock was bought at an average cost of $68.38 per share, with a total value of $229,073.00. Following the purchase, the director now owns 10,595 shares of the company's stock, valued at $724,486.10. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Charles S. Miller sold 11,076 shares of Fastenal stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel L. Johnson acquired 3,350 shares of the firm's stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average cost of $68.38 per share, with a total value of $229,073.00. Following the completion of the purchase, the director now owns 10,595 shares of the company's stock, valued at $724,486.10. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Loop Capital lowered their price objective on Fastenal from $71.00 to $66.00 and set a "hold" rating on the stock in a report on Monday, April 15th. Stifel Nicolaus increased their price objective on Fastenal from $75.00 to $85.00 and gave the company a "buy" rating in a report on Monday, March 18th. Robert W. Baird lowered their target price on Fastenal from $71.00 to $69.00 and set a "neutral" rating on the stock in a report on Tuesday, May 7th. Finally, HSBC raised their target price on Fastenal from $59.00 to $64.00 and gave the company a "hold" rating in a report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $67.33.

Check Out Our Latest Research Report on FAST

Fastenal Profile

(Free Report)

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.

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