Fastenal (NASDAQ:FAST) Shares Sold by Catalyst Financial Partners LLC

by · The Cerbat Gem

Catalyst Financial Partners LLC lessened its stake in Fastenal (NASDAQ:FAST – Free Report) by 9.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,636 shares of the company’s stock after selling 491 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Fastenal were worth $331,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FAST. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Fastenal by 5.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,607 shares of the company’s stock valued at $186,000 after acquiring an additional 143 shares in the last quarter. Compass Ion Advisors LLC boosted its stake in Fastenal by 1.5% during the 3rd quarter. Compass Ion Advisors LLC now owns 9,927 shares of the company’s stock valued at $709,000 after purchasing an additional 146 shares in the last quarter. Penobscot Investment Management Company Inc. increased its position in shares of Fastenal by 1.1% during the 1st quarter. Penobscot Investment Management Company Inc. now owns 13,350 shares of the company’s stock valued at $1,030,000 after purchasing an additional 150 shares during the period. Sara Bay Financial raised its stake in shares of Fastenal by 1.3% in the 2nd quarter. Sara Bay Financial now owns 11,872 shares of the company’s stock worth $746,000 after buying an additional 155 shares in the last quarter. Finally, Trueblood Wealth Management LLC lifted its holdings in shares of Fastenal by 1.4% in the second quarter. Trueblood Wealth Management LLC now owns 11,314 shares of the company’s stock valued at $711,000 after buying an additional 156 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Down 0.2 %

NASDAQ:FAST opened at $78.18 on Friday. The business’s fifty day moving average price is $71.74 and its 200 day moving average price is $68.18. The firm has a market capitalization of $44.76 billion, a price-to-earnings ratio of 38.90, a PEG ratio of 4.48 and a beta of 1.01. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. Fastenal has a 1-year low of $58.04 and a 1-year high of $79.04.

Fastenal (NASDAQ:FAST – Get Free Report) last issued its earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. On average, sell-side analysts forecast that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, October 25th. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

Analyst Ratings Changes

A number of research firms recently issued reports on FAST. Morgan Stanley lifted their target price on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $86.00 target price (up from $80.00) on shares of Fastenal in a report on Monday, October 14th. Bank of America started coverage on shares of Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 target price for the company. Robert W. Baird upped their price target on Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. lifted their target price on Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $73.33.

Get Our Latest Analysis on Fastenal

Insider Activity

In related news, Director Rita J. Heise sold 10,888 shares of Fastenal stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total transaction of $845,670.96. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,553,400. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fastenal news, Director Rita J. Heise sold 10,888 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $77.67, for a total value of $845,670.96. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $1,553,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the transaction, the chief executive officer now owns 286,018 shares in the company, valued at $19,489,266.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 190,261 shares of company stock worth $13,874,979 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.

About Fastenal

(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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