Lantz Financial LLC Sells 9,587 Shares of Fastenal (NASDAQ:FAST)

Lantz Financial LLC lessened its holdings in shares of Fastenal (NASDAQ:FAST) by 29.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,083 shares of the company’s stock after selling 9,587 shares during the period. Lantz Financial LLC’s holdings in Fastenal were worth $1,451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. boosted its position in Fastenal by 4.9% in the fourth quarter. Gilbert & Cook Inc. now owns 6,684 shares of the company’s stock valued at $433,000 after buying an additional 312 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of Fastenal by 220.7% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 4,265 shares of the company’s stock valued at $276,000 after purchasing an additional 2,935 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Fastenal by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,097,256 shares of the company’s stock worth $200,611,000 after purchasing an additional 60,490 shares in the last quarter. Forum Financial Management LP purchased a new stake in shares of Fastenal in the fourth quarter valued at approximately $203,000. Finally, Ieq Capital LLC lifted its position in shares of Fastenal by 60.8% during the 4th quarter. Ieq Capital LLC now owns 30,312 shares of the company’s stock valued at $1,963,000 after buying an additional 11,465 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Daniel L. Florness sold 45,744 shares of Fastenal stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total value 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Fastenal Stock Performance

Shares of FAST stock opened at $68.67 on Wednesday. The stock has a 50 day simple moving average of $66.95 and a 200-day simple moving average of $68.60. The company has a market cap of $39.32 billion, a price-to-earnings ratio of 34.16, a price-to-earnings-growth ratio of 3.59 and a beta of 1.01. The company has a current ratio of 4.39, a quick ratio of 2.29 and a debt-to-equity ratio of 0.04. Fastenal has a 12-month low of $53.83 and a 12-month high of $79.04.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the firm posted $0.52 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities analysts forecast that Fastenal will post 2.04 EPS for the current year.

Fastenal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Friday, July 26th. Fastenal’s dividend payout ratio (DPR) is 77.61%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Stephens reissued an “equal weight” rating and issued a $56.00 price target on shares of Fastenal in a research note on Monday, July 15th. Morgan Stanley initiated coverage on Fastenal in a report on Friday, September 6th. They set an “equal weight” rating and a $72.00 price target on the stock. Jefferies Financial Group cut their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $80.00 price objective (down from $85.00) on shares of Fastenal in a report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $67.43.

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.