Evergreen Capital Management LLC Has $606,000 Holdings in Fastenal (NASDAQ:FAST)

Evergreen Capital Management LLC lifted its stake in shares of Fastenal (NASDAQ:FAST) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,639 shares of the company’s stock after acquiring an additional 292 shares during the period. Evergreen Capital Management LLC’s holdings in Fastenal were worth $606,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Public Sector Pension Investment Board raised its position in Fastenal by 74.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 21,987 shares of the company’s stock valued at $1,382,000 after buying an additional 9,351 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Fastenal by 20.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,142 shares of the company’s stock worth $135,000 after purchasing an additional 368 shares in the last quarter. Fairscale Capital LLC bought a new position in Fastenal in the second quarter valued at $65,000. Fidelis Capital Partners LLC increased its stake in Fastenal by 19.6% in the 2nd quarter. Fidelis Capital Partners LLC now owns 19,162 shares of the company’s stock valued at $1,245,000 after buying an additional 3,134 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in Fastenal by 4.6% in the 2nd quarter. Epoch Investment Partners Inc. now owns 2,032,818 shares of the company’s stock valued at $127,742,000 after buying an additional 90,071 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

Fastenal Trading Down 1.5 %

Shares of FAST stock opened at $70.71 on Thursday. The company has a market capitalization of $40.49 billion, a PE ratio of 35.18, a price-to-earnings-growth ratio of 3.92 and a beta of 1.01. The company has a quick ratio of 2.29, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. Fastenal has a 12-month low of $53.94 and a 12-month high of $79.04. The firm has a 50 day moving average price of $68.18 and a two-hundred day moving average price of $68.35.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, July 12th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. Fastenal had a return on equity of 33.54% and a net margin of 15.54%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the firm posted $0.52 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, analysts predict that Fastenal will post 2.04 earnings per share for the current year.

Fastenal Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Friday, July 26th. Fastenal’s dividend payout ratio is currently 77.61%.

Fastenal Company 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.