Chevy Chase Trust Holdings LLC Has $24.56 Million Stock Position in Fastenal (NASDAQ:FAST)

Chevy Chase Trust Holdings LLC cut its holdings in shares of Fastenal (NASDAQ:FAST) by 0.7% in the 1st quarter, Holdings Channel reports. The firm owned 318,356 shares of the company’s stock after selling 2,309 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Fastenal were worth $24,558,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Van ECK Associates Corp lifted its stake 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 purchasing an additional 5,509 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Fastenal during the 4th quarter valued at $747,000. Raymond James & Associates grew its position in Fastenal by 3.7% during the 4th quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock worth $58,304,000 after acquiring an additional 31,814 shares during the last quarter. Focus Financial Network Inc. ADV acquired a new position in Fastenal in the 4th quarter worth about $1,282,000. Finally, ICW Investment Advisors LLC raised its position in Fastenal by 2.0% in the fourth 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. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Up 1.1 %

Fastenal stock opened at $64.23 on Thursday. The firm has a market cap of $36.77 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 3.36 and a beta of 1.01. Fastenal has a 52-week low of $53.83 and a 52-week high of $79.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. The firm has a 50 day moving average price of $65.01 and a two-hundred day moving average price of $68.52.

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

Analyst Upgrades and Downgrades

FAST has been the topic of several research reports. Robert W. Baird reduced their price target on Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Loop Capital reduced their target price on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a 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. Finally, Stifel Nicolaus boosted their price objective on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $68.80.

Insiders Place Their Bets

In other Fastenal news, Director Daniel L. Johnson acquired 3,350 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were bought at an average cost of $68.38 per share, with a total value of $229,073.00. Following the purchase, the director now directly owns 10,595 shares of the company’s stock, valued at $724,486.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Daniel L. Johnson acquired 3,350 shares of Fastenal stock in a transaction dated Wednesday, April 17th. The stock was bought at an average price of $68.38 per share, with a total value of $229,073.00. Following the transaction, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP James C. Jansen sold 11,428 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total transaction of $732,191.96. Following the transaction, the executive vice president now owns 26,176 shares in the company, valued at approximately $1,677,096.32. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

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.