Compass Ion Advisors LLC Sells 6,492 Shares of Fastenal (NASDAQ:FAST)

Compass Ion Advisors LLC lessened its holdings in shares of Fastenal (NASDAQ:FAST) by 39.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,781 shares of the company’s stock after selling 6,492 shares during the period. Compass Ion Advisors LLC’s holdings in Fastenal were worth $755,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in FAST. Van ECK Associates Corp increased its holdings in Fastenal by 5.7% in the 4th quarter. Van ECK Associates Corp now owns 101,713 shares of the company’s stock valued at $6,588,000 after buying an additional 5,509 shares during the period. Nomura Holdings Inc. acquired a new position in Fastenal during the fourth quarter valued at approximately $747,000. Raymond James & Associates lifted its stake in Fastenal by 3.7% during the fourth quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock worth $58,304,000 after purchasing an additional 31,814 shares during the last quarter. Focus Financial Network Inc. ADV acquired a new stake in shares of Fastenal in the 4th quarter valued at $1,282,000. Finally, ICW Investment Advisors LLC increased its stake in shares of Fastenal by 2.0% in the 4th quarter. ICW Investment Advisors LLC now owns 36,090 shares of the company’s stock valued at $2,338,000 after purchasing an additional 694 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Down 0.8 %

NASDAQ:FAST opened at $62.84 on Monday. Fastenal has a one year low of $53.83 and a one year high of $79.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The company has a market cap of $35.98 billion, a PE ratio of 31.11, a P/E/G ratio of 3.36 and a beta of 1.01. The firm’s 50 day simple moving average is $65.84 and its 200 day simple moving average is $68.65.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a return on equity of 33.98% and a net margin of 15.68%. Fastenal’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. On average, research analysts anticipate that Fastenal will post 2.08 earnings per share for the current year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th were given a dividend of $0.39 per share. The ex-dividend date was Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.48%. Fastenal’s dividend payout ratio (DPR) is 77.23%.

Analyst Ratings Changes

Several analysts recently weighed in on FAST shares. Loop Capital dropped their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. HSBC raised their price target on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Robert W. Baird lowered their price objective on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Finally, 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 report on Monday, March 18th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $68.80.

Insider Buying and Selling

In other news, EVP James C. Jansen sold 11,428 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total value of $732,191.96. Following the sale, the executive vice president now directly owns 26,176 shares of the company’s stock, valued at approximately $1,677,096.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP James C. Jansen sold 11,428 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $64.07, for a total transaction of $732,191.96. Following the sale, the executive vice president now owns 26,176 shares in the company, valued at approximately $1,677,096.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Hsenghung Sam Hsu bought 500 shares of the stock in a transaction on Monday, June 10th. The stock was acquired at an average price of $63.28 per share, with a total value of $31,640.00. Following the completion of the acquisition, the director now owns 3,500 shares of the company’s stock, valued at approximately $221,480. The disclosure for this purchase can be found here. 0.41% of the stock is owned by insiders.

About Fastenal

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.