Godsey & Gibb Inc. Has $21.53 Million Position in Fastenal (NASDAQ:FAST)

Godsey & Gibb Inc. lessened its holdings in shares of Fastenal (NASDAQ:FAST) by 2.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 301,410 shares of the company’s stock after selling 8,240 shares during the quarter. Fastenal makes up approximately 2.1% of Godsey & Gibb Inc.’s portfolio, making the stock its 22nd largest position. Godsey & Gibb Inc.’s holdings in Fastenal were worth $21,527,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Central Valley Advisors LLC acquired a new position in shares of Fastenal during the second quarter worth approximately $28,000. MCF Advisors LLC raised its stake in Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after purchasing an additional 391 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in Fastenal during the 2nd quarter valued at $32,000. Crewe Advisors LLC grew its position in Fastenal by 528.4% in the 2nd quarter. Crewe Advisors LLC now owns 509 shares of the company’s stock worth $32,000 after purchasing an additional 428 shares during the last quarter. Finally, Moisand Fitzgerald Tamayo LLC grew its position in Fastenal by 1,019.0% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after purchasing an additional 428 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Activity

In related news, EVP Anthony Paul Broersma sold 680 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $77.86, for a total transaction of $52,944.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Fastenal news, insider William Joseph Drazkowski sold 16,362 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $77.65, for a total value of $1,270,509.30. Following the completion of the transaction, the insider now directly owns 5,997 shares of the company’s stock, valued at approximately $465,667.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Anthony Paul Broersma sold 680 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $77.86, for a total transaction of $52,944.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 179,373 shares of company stock worth $13,029,308. Insiders own 0.41% of the company’s stock.

Fastenal Stock Performance

Shares of NASDAQ:FAST opened at $77.90 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.39 and a quick ratio of 2.29. The business’s fifty day moving average price is $69.92 and its two-hundred day moving average price is $67.91. Fastenal has a fifty-two week low of $56.41 and a fifty-two week high of $79.04. The stock has a market capitalization of $44.60 billion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 4.13 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, October 11th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. Fastenal had a net margin of 15.54% and a return on equity of 33.54%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, analysts predict that Fastenal will post 2.04 EPS for the current fiscal year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, October 25th. Fastenal’s payout ratio is 77.61%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group reduced their target price on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Bank of America initiated coverage on Fastenal in a research report on Monday, October 7th. They issued a “buy” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Morgan Stanley raised their target price on Fastenal from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Finally, Robert W. Baird boosted their price target on shares of Fastenal from $67.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.33.

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.