Amalgamated Bank Has $9.67 Million Holdings in Fastenal (NASDAQ:FAST)

Amalgamated Bank trimmed its position in Fastenal (NASDAQ:FAST) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,300 shares of the company’s stock after selling 3,617 shares during the quarter. Amalgamated Bank’s holdings in Fastenal were worth $9,670,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of FAST. Essex Financial Services Inc. lifted its holdings in shares of Fastenal by 1.8% during the fourth quarter. Essex Financial Services Inc. now owns 8,539 shares of the company’s stock valued at $553,000 after acquiring an additional 148 shares during the period. Hartford Financial Management Inc. grew its position in Fastenal by 46.9% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after acquiring an additional 153 shares during the last quarter. Empirical Asset Management LLC increased its holdings in 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 purchasing an additional 171 shares in the last quarter. Berkshire Bank boosted its stake in Fastenal by 3.1% in the third quarter. Berkshire Bank now owns 5,777 shares of the company’s stock worth $316,000 after purchasing an additional 174 shares in the last quarter. Finally, OmniStar Financial Group Inc. grew its holdings in shares of Fastenal by 1.1% during the third quarter. OmniStar Financial Group Inc. now owns 15,960 shares of the company’s stock worth $873,000 after purchasing an additional 174 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Ratings Changes

FAST has been the topic of a number of research analyst reports. HSBC increased their price objective on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Stifel Nicolaus raised their price target on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, March 18th. Loop Capital reduced 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. Finally, Robert W. Baird decreased their price objective on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $67.67.

Fastenal Trading Up 0.5 %

Shares of FAST stock traded up $0.34 on Friday, reaching $68.43. The company had a trading volume of 2,592,954 shares, compared to its average volume of 4,096,502. The company has a 50-day moving average of $73.21 and a 200-day moving average of $67.01. Fastenal has a 12 month low of $52.85 and a 12 month high of $79.04. The stock has a market cap of $39.18 billion, a PE ratio of 33.88, a PEG ratio of 3.56 and a beta of 1.07. 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 (NASDAQ:FAST) last announced its quarterly 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). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. Fastenal’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. On average, equities analysts forecast that Fastenal will post 2.12 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 annualized dividend and a dividend yield of 2.28%. Fastenal’s dividend payout ratio is presently 77.23%.

Insider Buying and Selling

In related news, Director Daniel L. Johnson purchased 3,350 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were purchased at an average price 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 in the company, valued at approximately $724,486.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Charles S. Miller sold 11,076 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel L. Johnson bought 3,350 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was acquired at an average cost of $68.38 per share, with a total value of $229,073.00. Following the transaction, the director now owns 10,595 shares of the company’s stock, valued at approximately $724,486.10. The disclosure for this purchase can be found here. In the last three months, insiders sold 36,082 shares of company stock valued at $2,584,060. 0.41% of the stock is owned by corporate insiders.

Fastenal 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.