Marino Stram & Associates LLC Sells 157 Shares of Fastenal (NASDAQ:FAST)

Marino Stram & Associates LLC reduced its stake in shares of Fastenal (NASDAQ:FAST) by 1.1% during the 4th quarter, HoldingsChannel reports. The fund owned 14,191 shares of the company’s stock after selling 157 shares during the period. Marino Stram & Associates LLC’s holdings in Fastenal were worth $919,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hartford Financial Management Inc. increased its stake in Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after purchasing an additional 153 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Fastenal in the 4th quarter worth approximately $35,000. Sunbelt Securities Inc. boosted its stake in shares of Fastenal by 131.7% during the second quarter. Sunbelt Securities Inc. now owns 600 shares of the company’s stock valued at $35,000 after purchasing an additional 341 shares in the last quarter. Quarry LP increased its holdings in Fastenal by 184.9% during the first quarter. Quarry LP now owns 678 shares of the company’s stock valued at $37,000 after buying an additional 440 shares during the period. Finally, Resurgent Financial Advisors LLC bought a new position in Fastenal in the fourth quarter worth approximately $33,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Robert W. Baird dropped their target price on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday. Stifel Nicolaus raised their target price on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. HSBC upped their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Loop Capital dropped their target price on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday. Five investment 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 company has an average rating of “Hold” and a consensus target price of $67.67.

Fastenal Stock Performance

Shares of FAST stock traded down $0.31 during mid-day trading on Tuesday, reaching $69.08. The stock had a trading volume of 1,603,236 shares, compared to its average volume of 4,039,005. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. Fastenal has a 1-year low of $52.28 and a 1-year high of $79.04. The business’s fifty day moving average is $73.74 and its 200-day moving average is $66.08. The firm has a market cap of $39.53 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 3.64 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (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 business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the business earned $0.52 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, research analysts forecast that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.26%. Fastenal’s payout ratio is 77.23%.

Insider Buying and Selling

In related news, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Charles S. Miller sold 11,076 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Reyne K. Wisecup sold 34,042 shares of Fastenal stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $68.48, for a total value of $2,331,196.16. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,369,600. The disclosure for this sale can be found here. Insiders have sold a total of 105,682 shares of company stock valued at $7,375,853 over the last ninety days. Company insiders own 0.41% of the company’s stock.

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.