Bokf Na Has $393,000 Stock Position in Fastenal (NASDAQ:FAST)

Bokf Na boosted its holdings in shares of Fastenal (NASDAQ:FAST) by 131.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,259 shares of the company’s stock after acquiring an additional 3,553 shares during the quarter. Bokf Na’s holdings in Fastenal were worth $393,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Central Valley Advisors LLC bought a new position in shares of Fastenal during the 2nd quarter worth approximately $28,000. MCF Advisors LLC grew its stake in shares of Fastenal by 2,172.2% in the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after acquiring an additional 391 shares in the last quarter. Triad Wealth Partners LLC bought a new position in shares of Fastenal during the second quarter worth approximately $32,000. Crewe Advisors LLC increased its stake in Fastenal by 528.4% during the 2nd quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock worth $32,000 after acquiring an additional 428 shares during the period. Finally, OFI Invest Asset Management bought a new position in shares of Fastenal in the second quarter worth $35,000. Institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Fastenal

In other news, CEO Daniel L. Florness sold 45,744 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares in the company, valued at $19,489,266.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fastenal news, CEO Daniel L. Florness sold 45,744 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $68.14, for a total transaction of $3,116,996.16. Following the sale, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $19,489,266.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel L. Florness sold 50,000 shares of Fastenal stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $69.68, for a total value of $3,484,000.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company’s stock, valued at $19,929,734.24. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Fastenal Stock Performance

Shares of Fastenal stock opened at $70.09 on Tuesday. The company’s 50 day moving average price is $67.50 and its two-hundred day moving average price is $68.50. The firm has a market capitalization of $40.14 billion, a P/E ratio of 34.87, a P/E/G ratio of 3.78 and a beta of 1.01. Fastenal has a fifty-two week low of $53.83 and a fifty-two week high of $79.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data 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 return on equity of 33.54% and a net margin of 15.54%. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the business posted $0.52 EPS. Fastenal’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 earnings per share for the current fiscal year.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, July 26th. Fastenal’s dividend payout ratio (DPR) is currently 77.61%.

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.