Fastenal (NASDAQ:FAST) Shares Sold by Taylor Frigon Capital Management LLC

by · The Cerbat Gem

Taylor Frigon Capital Management LLC cut its stake in Fastenal (NASDAQ:FAST – Free Report) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,326 shares of the company’s stock after selling 590 shares during the period. Taylor Frigon Capital Management LLC’s holdings in Fastenal were worth $1,737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MCF Advisors LLC raised its holdings in Fastenal by 2,172.2% during the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after purchasing an additional 391 shares during the last quarter. Central Valley Advisors LLC acquired a new position in shares of Fastenal during the 2nd quarter worth $28,000. Moisand Fitzgerald Tamayo LLC raised its stake in shares of Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after buying an additional 428 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Fastenal in the 1st quarter worth about $39,000. Finally, Triad Wealth Partners LLC acquired a new stake in Fastenal in the 2nd quarter valued at about $32,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FAST has been the topic of several recent research reports. Jefferies Financial Group reduced their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Stephens upped their target price on Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Robert W. Baird raised their price target on Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Stifel Nicolaus reissued a “buy” rating and issued a $86.00 price target (up from $80.00) on shares of Fastenal in a report on Monday, October 14th. Finally, Morgan Stanley increased their price objective on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and an average target price of $73.33.

Check Out Our Latest Stock Report on Fastenal

Insider Buying and Selling

In related news, VP John Lewis Soderberg sold 488 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $76.32, for a total value of $37,244.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Fastenal news, EVP Anthony Paul Broersma sold 680 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total value of $52,944.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP John Lewis Soderberg sold 488 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $76.32, for a total value of $37,244.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 179,373 shares of company stock valued at $13,029,308. Insiders own 0.41% of the company’s stock.

Fastenal Trading Down 0.2 %

FAST traded down $0.15 during trading on Thursday, reaching $75.78. The company had a trading volume of 451,548 shares, compared to its average volume of 3,347,607. Fastenal has a 12-month low of $56.41 and a 12-month high of $79.04. The firm’s 50-day simple moving average is $70.56 and its 200 day simple moving average is $67.99. The company has a market cap of $43.39 billion, a price-to-earnings ratio of 37.78, a PEG ratio of 4.13 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.29 and a current ratio of 4.39.

Fastenal (NASDAQ:FAST – Get Free Report) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. Equities research analysts anticipate that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a yield of 2.06%. Fastenal’s payout ratio is presently 77.61%.

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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